SapuraKencana scoops TANAP deal
- Business & Finance
SapuraKencana, a Malaysian oil and gas services provider, has won a contract worth RM 510 million ($125.8 million) from TANAP Doğalgaz İletim for the Trans-Anatolian Natural Gas Pipeline (TANAP) in the Marmara Sea.
The company said on Wednesday that the contract was won via its wholly-owned subsidiary company, SapuraKencana TL Offshore (SKTLO).
The scope of the contract entails the Engineering, Procurement, Construction and Installation (EPCI) of offshore pipelines and fiber optic cables for TANAP, located offshore Dardanelles Strait in the Sea of Marmara.
TANAP is a natural gas pipeline project that links the two continents of Europe and Asia, supplying natural gas from the Southern Gas Corridor project in Azerbaijan through Georgia and Turkey and onwards to Europe.
The pipeline is 58 percent owned by the State Oil Company of Azerbaijan Republic ( SOCAR), 30 percent owned by the stated-owned Turkish BOTAS Petroleum Pipeline Corporation and 12 percent by BP.
Tan Sri Dato’ Seri Shahril Shamsuddin, President and Group CEO of SapuraKencana, said: “Our cost reduction efforts and increased operational effectiveness have driven this enhanced competitiveness that has helped us to secure our latest wins in Mexico and TANAP, both totaling just under RM1 billion.”