KUALA LUMPUR (Jan 10): SAPURACREST PETROLEUM BHD []’s joint venture has secured a subsea CONSTRUCTION [] project worth RM315 million (US$100 million) offshore Vietnam.
The company said on Tuesday that SapuraAcergy Sdn Bhd, which is equally owned by SapuraCrest and Subsea 7 S.A. was awarded the contract, adding that the offshore work was expected to be performed in mid 2012.
SapuraCrest said the scope of work requires the installation of 28km of 12” diameter pipeline, a 28km umbilical, Pipeline End Terminations (PLETs) and Subsea Isolation Valve (SSIV), Structures, spools and pre-commissioning.
It said the contract was expected to contribute positively to its earnings for the financial year ending Jan 31, 2012.
The company said on Tuesday that SapuraAcergy Sdn Bhd, which is equally owned by SapuraCrest and Subsea 7 S.A. was awarded the contract, adding that the offshore work was expected to be performed in mid 2012.
SapuraCrest said the scope of work requires the installation of 28km of 12” diameter pipeline, a 28km umbilical, Pipeline End Terminations (PLETs) and Subsea Isolation Valve (SSIV), Structures, spools and pre-commissioning.
It said the contract was expected to contribute positively to its earnings for the financial year ending Jan 31, 2012.
