SapuraKencana Petroleum Berhad (“SapuraKencana”) announces that its wholly-owned subsidiary, TL Offshore Sdn Bhd (“TLO”) has entered into a Contract for Procurement, Construction and Installation for a Production/Processing Platform, Pipelines and Pipeline End Manifold for the Manora Field Development in Thailand with Pearl Oil (Amata) Limited, a Mubadala Petroleum affiliate.
Pearl Oil (Amata) Limited is the operator of the Manora oil field in the G1/48 concession with partners Tap Energy (Thailand) and Northern Gulf Petroleum.
The Contract comprises of procurement of equipment and bulk materials, fabrication, transportation, installation and hook-up of a Wellhead Processing Platform and two 2km pipelines in the Manora oil field, which lies in 44m of water approximately 80km from the coast of Thailand.
The work will be carried out in consortium with Clough (Thailand) Co. Ltd. (“CTL”), a subsidiary of Clough Limited, where CTL will undertake the procurement and fabrication, and TLO will undertake the transportation and installation. The work is scheduled to commence in September 2012 and to be completed in early 2014.
TLO’s scope of work is valued at approximately USD25.0 million and is expected to contribute positively towards the earnings and net assets per share of SapuraKencana Group for the duration of the Contract.
[mappress] Press Release, September 26, 2012