Wednesday 08 May 2024
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This article first appeared in The Edge Financial Daily, on September 2, 2016.

 

KUALA LUMPUR: SapuraKencana Petroleum Bhd said it had secured some US$65.3 million (RM264 million) worth of oil and gas support services contracts.

In a statement to Bursa Malaysia yesterday, SapuraKencana said the five projects involve engineering and construction work via its 100%-owned SapuraKencana TL Offshore Sdn Bhd. Of the five projects, four are in Malaysia, while one is in Vietnam.

“The contracts announced herein will have no effect on the issued and paid-up share capital of the company and are expected to contribute positively towards earnings of [the] SapuraKencana group principally for the financial year ending Jan 31, 2017 and, for contracts that extend beyond Jan 31, 2017, the financial period(s) thereafter during their respective contract periods,” SapuraKencana said.

In Malaysia, SapuraKencana said, the contracts include one from Petronas Carigali Sdn Bhd. The offshore contract involves pipeline, substructure and topside transportation and installation for the F12 gas development project in Bintulu, Sarawak.

SapuraKencana said the contract in Vietnam involves offshore structure installation at the Su Tu Trang field for PTSC Offshore Services Joint Stock Co.

SapuraKencana shares settled four sen or 2.53% lower at RM1.54 yesterday, with a market value of RM9.23 billion. The stock saw some 24.37 million shares traded.

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