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SapuraKencana eyes $416m in international deals

SapuraKencana eyes $416m in international deals
Malaysian oil and gas services provider SapuraKencana Petroleum (SapKen) is reportedly set to seal two international contracts in India and Mexico worth a total of about MYR1.5bn ($416m), local media quoted sources as saying.

SapKen is seen being in a good position for the India job after putting in the lowest bid of $273m to $291m, and may even edge out local company Larsen & Toubro. SapKen’s bid for the Indian contract is being made through its offshore construction and subsea services arm, TL Offshore.

There are believed to be four contenders for the job for a portion of Oil & Natural Gas Corp’s Mumbai High South (MHS) phase three redevelopment project which is expected to be awarded for between $200m to $300m. This contract is a part of the overall third-phase redevelopment of MHS, believed to be worth a total of $982.4m.

Larsen & Toubro, Abu Dhabi-based National ­Petroleum & Construction Co and McDermott have put in bids of $390m, $471m and $406m respectively.In the North America market, SapKen is believed to be gunning for deepwater and shallow structure contracts expected to be worth around MYR400m in Mexico.