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StockWatch Scomi Group, Scomi Energy up on news of securing Ophir contract
by Cals Sat 04 Jan 2014, 01:28
| StockWatch Scomi Group, Scomi Energy up on news of securing Ophir contract |
| Business & Markets 2013 |
| Written by Jonathan Gan at theedgemalaysia.com |
| Friday, 03 January 2014 17:36 |
KUALA LUMPUR (Jan 3): Scomi Group Berhad and its associate Scomi Energy Services Berhad rose today on news of the latter being close to securing a contract from Petroliam Nasional Berhad (Petronas) to develop the Ophir oilfield offshore Terengganu.
Ophir is said to be one of the 10 small oil fields reported in May to be tendered out by Petronas under its Risk Service Contract (RSC) licensing programme. It is estimated that the Ophir contract is worth US$510 mil (RM1.68 billion)
At 4:46pm today, Scomi Group rose 2 sen or 5% to RM0.385 per share, with 11,610,700 trades done. Scomi Energy Services rose 2.5 sen or 3% to RM0.825 per share, with 7,842,700 trades done.
According to a local news report, Scomi Energy Services and its Australian partner Octanex are said to be close to securing the Petronas contract.
Scomi Energy is said to have a 30% stake in the venture along with Octanex (50%) and Vestigo Petroleum Sdn Bhd (20%), a unit of Petronas Carigali.
The total number of RSC’s at this point is still unclear but Petronas has identified 25 marginal fields to be awarded.
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