The Board of Directors of SapuraKencana Petroleum Berhad announces that one of its wholly-owned subsidiary companies in Australia had, on 30 July 2012, been awarded a contract by PTTEP Australasia Pty Ltd for the provision of the vessel “Normand Clough” to support the hook-up and commissioning activities of the Montara Development Project.
The Contract is for the provision of the Vessel and the Vessel personnel, the operation, navigation and management of the Vessel, the operations or work to be performed using the Vessel and any other responsibilities and obligations imposed under the Contract in respect of the Montara Development Project. The Montara field is located approximately 700km west of Darwin in the Timor Sea, off the coast of Northern Australia.
The value of the Contract amount with options exercised is approximately AUD$14.8 million (equivalent to RM50.0 million). The total duration of the Contract is approximately three (3) months, commencing early October 2012 following the Normand Clough campaign in Sakhalin.
The Board of Directors of the Company is of the opinion that the acceptance of the Contract is in the best interest of the Company.
Source: SapuraKencana, August 2, 2012