SapuraKencana Secures US$273 Million Contract in India

Wednesday 15 July 2015

SapuraKencana Petroleum Bhd's wholly-owned subsidiary Kencana HL Sdn Bhd has secured a contract from Oil and Natural Gas Corporation Ltd worth about US$273 million (RM1 billion).

In a filing to Bursa Malaysia today, SapuraKencana said its unit was awarded the contract for the Mumbai High South Redevelopment Phase III Project on a turnkey basis.

The scope of work includes but is not limited to surveys, design, engineering, procurement, fabrication, transport and installation, hook-up and commissioning of three new Well Head platforms, around 116km of submarine pipelines and around 7.5km of submarine cables.

It also covers modification work on existing platforms, including clamp-on works on two platforms, sub-sea repair work on three jackets and D1C pile remedial work.

The company said the contract agreement was signed by both parties on June 27, 2015 in Mumbai, India, with the overall project expected to be completed on April 30, 2017.

[Source: The Malaysian Insider]

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