Kencana awarded RM 460 million contract offshore Sarawak.

Kencana Petroleum secures RM460m contract

KUALA LUMPUR: Kencana Petroleum Bhd has received a letter of award from Murphy Sarawak Oil Co., Ltd. for the fabrication of offshore topsides and the contract is valued between RM460mil and RM474mil.

It said on Tuesday Murphy Sarawak awarded the contract on April 20 for the provision of engineering, procurement, construction and commissioning (EPCC) of Serendah Production topsides facilities at the oil fields development off Bintulu, Sarawak.

"The value of the contract is estimated at between RM460mil and RM474mil. The contract is expected to be delivered from first quarter of calendar year 2013 to second quarter of calendar year 2013," it said.

Kencana expected the contract to contribute positively to the earnings and net assets per share of the group for the duration of the contract.