Malaysia’s SapuraKencana has won contracts and extensions valued at approximately $117 million.
The first is an eight-month contract for the provision of hook up & commissioning works for KNPG-B Phase II, Kinabalu Non Associated Gas (NAG) development project by THHE Fabricators.
Under the contract SapuraKencana will provide supervision, manpower, equipment and marine spread to carry out the hook up and commissioning of a compression system module and high pressure high temperature (HPHT) facilities on the KNPG-B central processing platform.
According to the company, the works are scheduled to start in the first quarter of 2016.
The second is an EPC contract, awarded by Hess Exploration & Production Malaysia, for the subsea isolation valve (SSIV) Systems at Block PM302, North Malay Basin.
Reportedly, the company is to carry out and complete the work for SSIV skids, subsea umbilical and flying lead, hydraulic power unit (HPU), topside umbilical termination unit (TUTU), umbilical termination assembly (UTA) and the supporting details.
The work has already begun and is expected to be wrapped up around Q1 2017.
Additional contract win is for the provision of semi-tender assist drilling rig SKD Esperanza. The contract is for 18 months plus options. Furthermore, contract for the SKD T20 rig, offshore Côte d’Ivoire, has been extended until June this year, with option to extend the contract by an additional 5 wells and keep the SKD T20 working until Q4 2016.
The contracts are expected to have positive effect on SapuraKencana’s earnings in 2016 and beyond, the company said Thursday.