SapuraKencana PLSV starts Petrobras job

Malaysia’s upstream oil and gas services provider SapuraKencana Petroleum Berhad, has reached a key milestone in its international operations by starting ahead of schedule its first pipe-laying support vessel (PLSV) work for state-run Petrobras in the pre-salt waters off Brazil.

This maiden foray for the SapuraKencana in Brazilian waters was undertaken by its brand new PLSV “Sapura Diamante” on June 28, 2014 — more than 3 months ahead of the original contractual delivery date.

SapuraKencana’s offshore operations in Brazil for PETROBRAS are being executed there by its Brazilian joint venture company Sapura Navegacao Maritima (SNM), a 50:50 venture with offshore drilling firm Seadrill.

“This is indeed a key milestone for us as it signals the start of SapuraKencana’s PLSV operations in Brazil, our single biggest foreign market,” said Tan Sri Dato’ Seri Shahril Shamsuddin, President and Group CEO of SapuraKencana Petroleum.

“Soon revenues from this new geographical area of operation are set to start contributing to the Group’s future results.”

“We are proud to have been able to keep our promise and deliver ahead of schedule the first of the six PLSVs contracted by Petrobras,” he added.

“We are confident that we will be able to fulfill our remaining contractual obligations to PETROBRAS in similar fashion and continue developing more local expertise in Brazil.”

In November 2011 and in June 2013, SapuraKencana’s joint venture company in Brazil, SNM, was awarded two major contracts by PETROBRAS worth a total of US$4.1 billion to build and operate a total of 6 PLSVs for offshore work in Brazil. Three of the PLSVs from the contract awarded in 2011 would be on 5+5 year contracts while the remaining 3 from the contract in 2013 would be on 8+8 year contracts.

The PLSVs contracted by Petrobras to develop deep sea oilfields at depths of up to 3,000 metres will be fitted with world class Remotely Operated Vehicles (ROVs) developed and built by Sapurakencana’s Australian subsidiary, Total Marine Technology Pty Ltd.