SapuraKencana enters EU with TANAP contract

expat network

SapuraKencana enters EU with TANAP contract

SapuraKencana Petroleum Berhad has expanded its global footprint by making its entry into Europe, securing a RM510 million contract for the Trans Anatolian Natural Gas Pipeline (“TANAP”) from TANAP Doğalgaz İletim A.S.

The contract, awarded to SapuraKencana via its wholly-owned subsidiary company, SapuraKencana TL Offshore Sdn. Bhd. (“SKTLO”), is for the Engineering, Procurement, Construction and Installation (“EPCI”) of offshore pipelines and fibre optic cables for TANAP, located offshore Dardanelles Strait in the Sea of Marmara. The project is scheduled to commence in the third quarter of 2016 and end in the third quarter of 2018.

TANAP is a strategic 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. TANAP is 58% owned by the State Oil Company of Azerbaijan Republic (“SOCAR”), 30% owned by the stated-owned Turkish BOTAS Petroleum Pipeline Corporation (“BOTAS”) and 12% owned by British Petroleum Plc (“BP”).

“This contract win demonstrates that our transformation and strategies are continuing to enhance our competitiveness globally. 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 totalling just under RM1 billion. These wins will contribute positively to the Group’s performance,” said Tan Sri Dato’ Seri Shahril Shamsuddin, President and Group Chief Executive Officer of SapuraKencana.

To date, SapuraKencana has successfully secured a total of RM3.1 billion of new contract wins in the current financial year.

Source: www.sapurakencana.com

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.