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Tuesday, 1 April 2014

SapuraKencana Petroleum's drilling division wins new business worth US$454 mln in West Africa, Thailand and Brunei

SapuraKencana Petroleum Bhd announced Tuesday that its wholly-owned drilling subsidiaries overseas had won one new contract and three contract extensions worth a total of US$454mil.

In its filing with Bursa Malaysia, it said Singapore-incorporated SapuraKencana Drilling Pte Ltd had been awarded a contract by Total E&P Congo, of the Republic of Congo, for the provision of its Semi-Tender Assist Drilling Rig, SKD Berani.

The contract, for a period of one year with the option for an extension of one year, for drilling campaign off the coast of the Republic of Congo, is worth US$108mil. It commences in April 2014 until March 2015.

Meanwhile Brunei-incorporated SapuraKencana Drilling Sdn Bhd is extending its contract with Brunei Shell Petroleum Company Sdn Bhd for the provision of its Semi-Tender Assist Drilling Rig, SKD Pelaut. The extension is for a period of two years from April 2015, and is valued at about US$92mil.

In Angola, HK-incorporated SapuraKencana Drilling Asia Ltd (SKD Asia) is extending its contract with Cabinda Gulf Oil Company Ltd for the provision of its Tender Assist Drilling Rig, SKD Setia. The contract extension is for two years, beginning in August 2014, and is worth US$164mil.

Elsewhere in Thailand, SKD Asia also received an extension to its contract with Chevron Thailand Exploration and Production Ltd  for the provision of the Tender Assist Drilling Rig, SKD T-12. The extension is for two years, from March 2014, and is worth US$90mil.