SapuraKencana Receives LOA for Kebabangan Offshore Project (Malaysia)

SapuraKencana Petroleum Berhad has received a letter of award from Kebabangan Petroleum Operating Company Sdn Bhd (“KPOC”) for the provision of hook-up and commissioning services for Kebabangan Northern Hub Development Project located in the South China Sea, 130km offshore Sabah in East Malaysia.

The Contract comprises provision of hook-up and commissioning services for offshore facilities for the Kebabangan offshore field.  The total value of the contract is approximately RM106.0 million (USD 34.1 million) .

The work for the contract is expected to start soon and is expected to be completed by mid 2014.

“The Board of Directors of the Company is of the opinion that the acceptance of the Contract is in the best interest of the Company,” said the company in a press release

KPOC, comprising PETRONAS Carigali Sdn Bhd (40%), ConocoPhillips Sabah Gas Ltd (30%) and Shell Energy Asia Limited (30%), will operate the Kebabangan field. The field, located in water depths of 100 metres to 400 metres, is expected to come on stream in 2014.

KBB will be a hub for the development of deep water and on-shelf oil and gas assets offshore Northern Sabah.

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Offshore Energy Today Staff, August 9, 2012