SapuraKencana Petroleum won five contracts totalling US$300 million (RM1.34 billion) to provide underwater services, offshore installation work and rigs.

Bursa Malaysia yesterday, SapuraKencana said its unit, was awarded a two-year contract to provide underwater services for Petronas Carigali Sdn Bhd.

Multi Management and Future Solutions Malaysia: SapuraKencana Petroleum Bhd won five contracts totalling US$300 million (RM1.34 billion) to give submerged administrations, seaward establishment work and apparatuses. 

In its documenting to Bursa Malaysia yesterday, SapuraKencana said its unit, SapuraKencana Subsea Services Sdn Bhd, was granted a two-year contract to give submerged administrations to Petronas Carigali Sdn Bhd. 

The second contract included SapuraKencana GeoSciences Sdn Bhd, which will give soil examination administrations to one year in the Peninsular Malaysia and Sarawak/Sabah operation regions. 

The third contract is for Sapura-Kencana TL Offshore Sdn Bhd to give Hyundai Heavy Industries seaward establishment work of BNCPP-B coat, establishment heaps and scaffold structure between BNCPP-B to BNG-B. 

The agreement would be in Sarawak and Sabah, and work was required to begin in the present quarter. 

Concerning the fourth occupation, SapuraKencana TL Offshore was granted a 12-month decrease by Repsol Oil and Gas Malaysia Ltd to give transportation and establishment of pipeline and topside for the Bunga Pakma improvement extend. 

Under the fifth contract, Sapura-Kencana Drilling has been employed by Brunei Shell Petroleum Sdn Bhd to give delicate help penetrating apparatus SKD Alliance. The agreement is booked to begin in April one year from now for a long time, with the alternative to reach out for an additional five years. 

Recently, SapuraKencana offers facilitated one sen to close at RM1.74. 

AmInvestment Bank investigator Alex Goh said he is certain on Sapura-Kencana and raised its objective cost to RM2.07 from RM1.80. 

"We keep up a "purchase" approach SapuraKencana. It regards see employments streaming in. 

"While regardless we have attentiveness toward further weaknesses to SapuraKencana's benefits, the dangers have all the earmarks of being reducing," he included.

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