Sapura Energy bags multiple new contracts value RM905m
Sapura Energy Bhd, formerly known as SapuraKencana Petroleum Bhd, have been awarded contracts with a combined value of about RM905 million for engineering, procurement, construction and commissioning as well as transportation and installation works.
Sapura Fabrication Sdn Bhd has secured three EPCC contracts for Kinarut ERB West Compressor upgrading project and Bokor Betty Brownfield & Rejuvenation for Petronas Carigali Sdn Bhd and FFD Phase 2 Facilities in the North Malay Basin project for Hess Exploration And Production Malaysia BV .
In a filing to Bursa Malaysia, Sapura said the Kinarut contract spans three years till the fourth quarter of 2020 and the works scope involves the replacement and refurbishment of compressors and associated equipment at ERB West and Kinarut platforms.
The Bokor contract scope of work comprises of Bokor rejuvenation and host tie-in works at existing platforms including LADR-A and BNG-B and Betty rejuvenation and redevelopment works involving existing platform facilities upgrades, both to support Bokor enhanced oil recovery and redevelopment of the two fields, it added.
“The duration of the contract will be for a four and a half years expiring in the second quarter of 2022.”
Sapura said the FFD Phase 2 Facilities contract scope of work comprises engineering, procurement, construction and commissioning of a conventional three-legged Terminal Wellhead Platform and a Minimal Wellhead Platform, with associated pipelines.
“The scope for offshore transportation and installation work associated to the above contract is optional. Hess will notify Sapura in writing if this option is exercised,” it said.
Meanwhile, Sapura Offshore Sdn Bhd has secured a contract to undertake transportation and installation works for the Bokor Central Processing Platform project for Malaysia Marine and Heavy Engineering Sdn Bhd.
The contract is expected to be completed by March 2020.
Sapura Offshore was also awarded a contract for the provisioning of offshore/onshore pipelines and terminal works for the Fifth Oil Berth project at Mumbai Port Trust, which is expected to be completed by May 2019.
Sapura said all contracts announced are expected to contribute positively towards the earnings of the group for the financial year ending January 31, 2018 and subsequent financial periods thereafter, in accordance with the duration of the contracts and extensions, if such options are exercised.