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Update SapuraKencana unit bags contracts worth RM1.3 billion

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Update SapuraKencana unit bags contracts worth RM1.3 billion Empty Update SapuraKencana unit bags contracts worth RM1.3 billion

Post by Cals Fri 20 Jun 2014, 01:51

Update SapuraKencana unit bags contracts worth RM1.3 billion
Business & Markets 2014
Written by Ho Wah Foon of theedgemalaysia.com   
Thursday, 19 June 2014 19:11

KUALA LUMPUR (June 19): SapuraKencana Petroleum Berhad announced that its wholly owned unit Kencana HL Sdn Bhd has been awarded  two contracts with total value at RM1.3 billion.

The contracts won were:

(i)  An EPCIC contract for 3 remote wellhead platforms in the North Malay Basin by Hess Exploration and Production Malaysia B.V.

This EPCIC contract is for 25 months and the work is expected to commence in the second quarter of 2014 and to be completed by the third quarter of 2016.

(ii)  An EPCIC contract for 4 wellhead platforms and associated subsea pipelines for JDA Block B-17 and B17-01 Field Phase 3 Development Project by Carigali-PTTEPI Operating Company Sdn Bhd.

This EPCIC contract is for 39 months, with work commencing in June 2014 and expected completion in September 2017.

“In total, the contracts are valued at circa USD415 Million (circa RM 1.3 Billion),” said SapuraKencana in a statement to the stock exchange.
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