May 9, 2012

Kencana Win RM477 million Contract from Murphy Sarawak Oil

As reported by Business Times on 09/05/12, Kencana Petroleum Bhd’s wholly-owned subsidiary Kencana HL Sdn Bhd has won a RM460 million to RM477 million contract from Murphy Sarawak Oil Co for the fabrication of offshore topsides.

In a filing to Bursa Malaysia yesterday, the company said the contract is for the provision of EPCC of Serendah Production topsides facilities for the SK309/311 SPSA Development Project, which is part of Murphy Sarawak's oil fields development located offshore Bintulu, Sarawak.

"The contract is expected to be delivered from first quarter to second quarter of calendar year 2013. "It is also expected to contribute positively to the earnings and net assets per share of Kencana Petroleum Group for the duration of the contract," the company said.

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