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Sapura Kencana picks up $273m India job

Sapura Kencana picks up $273m India job
SapuraKencana Petroleum (SapKen) finally clinched its long-awaited India deal, announcing in a stock market announcement that it has been awarded with a lump sum contract worth $273m by Oil and Natural Gas Corp for the Mumbai High South Redevelopment Phase III Project on a turnkey basis.

SapKen said its unit Kencana HL, had secured the contract, which includes surveys, design, engineering, procurement, fabrication, transport and installation, hook-up and commissioning of three new well head platforms, around 116km of submarine pipelines, around 7.5km of submarine cables, modification works on existing platforms including clamp-on works on two platforms, subsea repair works on three jackets and D1C pile remedial works.

The overall project completion is scheduled for 30 April 2017.

SapKen said the award is expected to contribute positively towards the earnings and net assets per share of the company for the financial years ending 31 January 2016 and 2017.

TAGS: Offshore