SapuraKencana nets several contracts worth $312M

Malaysian oilfield services provider SapuraKencana has secured several new contracts through its subsidiaries. The total value of the contracts is $312 million.

Drilling Division

SapuraKencana Drilling Holdings Limited has been awarded a contract for the provision of offshore drilling rig and services by its Tender Assist Drilling Rig “SKD T-20’’ by CNR International (Côte d’Ivoire) S.A.R.L. (“CNRI”).

The CNRI Contract comprises the provision of SKD T-20 for wells in the Espoir Field in Block CI-26 offshore Côte d’Ivoire. The drilling programme includes drilling, side-tracking, completion and other associated works, where applicable.

The CNRI Contract is for a primary term of ten firm wells to be completed in not less than 365 days, followed by four single well options to be exercised at CNRI’s sole discretion.

Offshore Construction and Subsea Services Division

TL Offshore Sdn Bhd (“TLO”), a wholly-owned subsidiary, has executed a Charter Party Agreement with Heerema Marine Contractors Nederland SE (“HMC”) for the provision of a command installation vessel “SK1200” for the Arkutun-Dagi Project in Sakhalin, Russia.

Exxon Neftegas Ltd (“Exxon”) has awarded a contract to HMC for the transportation and installation of the Arkutun-Dagi topsides. HMC has in turn awarded TLO with transportation of Exxon’s Temporary Living Quarters under the Charter. The charter will be for a firm period of 55 days and Charterer has an option of 15 daily extensions.

Also, TLO has been awarded a subcontract for the provision of transportation and installation works in connection with the British Gas Exploration & Production India Limited Mukta B Platform and Pipeline Project by Larsen & Toubro Ltd (“L&T”) through L&T Sapura Offshore Private Limited, an Indian joint venture company between L&T and Nautical Power Pte Ltd, a wholly-owned subsidiary of SapuraKencana.

The LTS Subcontract comprises the provision of transportation and installation of a jacket, topside and pipelines, including tie-ins, transportation and installation engineering, procurement and provision of riser clamps for risers at existing platforms, pre-commissioning and project management.

Furthermore, SapuraAcergy Sdn Bhd, a joint venture company equally owned by SapuraKencana and Subsea 7 S.A., has been awarded a contract for the provision of subsea services for the Maharaja Lela South Project by TOTAL E&P Borneo B.V. (“MLS Contract”).

The MLS Contract comprises Engineering, Procurement, Supply, Construction, Pre-Commissioning, Transportation and Installation related to offshore platform and pipeline works together with associated assistance to start-up. The MLS Contract is for a duration of approximately twenty months.

Fabrication, Hook-up and Commissioning

Kencana HL Sdn Bhd, a wholly-owned subsidiary, has been awarded a contract for the provision of detailed engineering, procurement, construction, and commissioning for the Layang Development (Facilities) Project by JX Nippon Oil & Gas Exploration (Malaysia) Limited. The Layang Contract comprises the provision of detailed engineering, procurement, construction and commissioning for the Layang Project. The Layang Project is for a period of two years and is expected to be completed by the second quarter of 2016.