SMOE, a wholly-owned subsidiary of Sembcorp Marine has secured a contract close to S$600 million from PTTEP International Limited (PTTEPI), Yangon Branch, for engineering, procurement, construction, transportation, installation, offshore hook-up and commissioning, inclusive of novated equipment, of an integrated Processing and Living Quarters platform, to be installed at a water depth of 150 meters in Block M9, in the Andaman Sea, offshore Myanmar.
The new platform, featuring a 15,000 metric tonnes Topside integrated with a 128 men Living Quarters Module, Jacket with Piles of approximately 20,000 metric tonnes and a 100 meter Flare Boom, is bridged linked to a Wellhead platform. Construction is expected to commence in October 2011 with offshore completion scheduled in November 2013. The topside will be installed using the float-over methodology.
Mr. Ho Nee Sin, Managing Director of SMOE said “We would like to thank PTTEP International for awarding us this contract, which is a testament of their confidence in our capabilities and construction expertise of mega offshore platforms. As one of our most valued repeat clients, PTTEPI is assured of our commitment in the timely delivery of a quality product.”
SMOE, with its reputed leading turnkey contractor status in the oil and gas industry and a track record of more than 30 years, provides its worldwide clientele with construction services for offshore fixed and floating facilities, specialised modules and modularisation of onshore LNG plants.
The| contract is not expected to have any material impact on the earnings per share and net tangible assets of Sembcorp Marine for the year ending December 31, 2011.
600 million Singapore dollars = 493.21800 million U.S. dollars
[mappress] Source:Sembcorp , July 14, 2011;