OTHERS SAPURAKENCANA PETROLEUM BERHAD - AWARD OF NEW CONTRACTS AND CONTRACT UPDATES
SAPURAKENCANA PETROLEUM BERHAD |
Type | Announcement |
Subject | OTHERS |
Description | SAPURAKENCANA PETROLEUM BERHAD - AWARD OF NEW CONTRACTS AND CONTRACT UPDATES |
INTRODUCTION The Board of Directors of SapuraKencana Petroleum Berhad (“SapuraKencana” or “Company”) (“Board”) is pleased to announce that wholly-owned subsidiary companies within the SapuraKencana Group have been awarded contracts and extensions with a combined value of approximately USD117 million (approximately RM503 million, based on USD/MYR exchange rate of USD1: RM4.3).
Award of Provision of Hook Up & Commissioning Works for KNPG-B Phase II, Kinabalu Non-associated Gas (NAG) Development Project by THHE Fabricators Sdn. Bhd. SapuraKencana HL Sdn Bhd has been awarded a contract for the Provision of Hook Up & Commissioning Works for KNPG-B Phase II, Kinabalu Non Associated Gas (NAG) Development Project by THHE Fabricators Sdn. Bhd. This involves the provision of supervision, manpower, equipment and marine spread to carry out the hook up and commissioning of a Compression System module and High Pressure High Temperature (HPHT) facilities on the KNPG-B Central Processing Platform. The contract is for a period of approximately eight months and works are expected to commence in the first quarter of 2016.
Award of Contract for the Provision of Engineering, Procurement and Construction (EPC) of the Subsea Isolation Value (SSIV) Systems by Hess Exploration & Production Malaysia B.V. SapuraKencana Technology Sdn Bhd (formerly known as Sapura Energy Sdn Bhd) has been awarded a contract by Hess Exploration & Production Malaysia B.V. for the provision of Engineering, Procurement and Construction of the Subsea Isolation Valve (“SSIV”) Systems at Block PM302, North Malay Basin. The scope of work under the contract includes the complete responsibility for carrying out and completing the work for SSIV Skids, Subsea Umbilical and Flying Lead, Hydraulic Power Unit (“HPU”), Topside Umbilical Termination Unit (“TUTU”), Umbilical Termination Assembly (“UTA”) and the supporting details. The contract is for a period of approximately 18 months. It has commenced and is expected to complete around the first quarter of 2017.
Update on Sarawak Shell Berhad / Sabah Shell Petroleum Co. Ltd Contract for the Provision of Semi-Tender Assist Drilling Rig "SKD Esperanza" SapuraKencana Drilling Tioman Sdn. Bhd. has been awarded a contract from Sarawak Shell Berhad (“SSB”)/ Sabah Shell Petroleum Co. Ltd (“SSPC”) for the provision of its Semi Tender Assist Drilling Rig “SKD Esperanza”. The contract is for the nominal term of 18 months with options to extend for up to a further 18 months.
Reference is made to the Company’s previous announcement, dated 15 May 2014, for SapuraKencana Drilling Holdings Ltd’s Tender Assist Drilling Rig SKD T20 (“SKD T20”) offshore Côte d'Ivoire. The contract is now expected to be completed in June of 2016, adding to the original contract term. Additionally, there is the option to extend the contract by an 5 additional wells, which if exercised, will keep the SKD T20 on contract to the final quarter of 2016.
None of the Directors and/or major shareholders of the Company and/or persons connected with them have any direct or indirect interest in the award and extension of the contracts herein.
The Board is of the opinion that the acceptance of the contracts herein is in the best interest of the Company.
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Announcement Info
Company Name | SAPURAKENCANA PETROLEUM BERHAD |
Stock Name | SKPETRO |
Date Announced | 14 Jan 2016 |
Category | General Announcement for PLC |
Reference Number | GA1-14012016-00039 |