SapuraKencana Petroleum Drilling Subsidiaries Win New Contracts and Contract Extension Valued at RM2.3 Billion
Date: 16.06.2014.

Kuala Lumpur, 16 June 2014

Global integrated oil and gas services and solutions provider, SapuraKencana Petroleum Berhad, announced today that its wholly-owned drilling subsidiaries won three new contracts and a contract extension for offshore work in Malaysia and Thailand worth a total of approximately US$700 million (RM2.3 billion), signalling further robust growth in new business and revenues for the Group.

"These latest, big business wins, which come on top of approximately RM2.5 billion in new contracts and extensions already won so far in 2014, will contribute positively to SapuraKencana Petroleum's future earnings," said SapuraKencana Petroleum's President and Group CEO, Tan Sri Dato’ Seri Shahril Shamsuddin, commenting on the new contracts.

"This new business further strengthens SapuraKencana Petroleum's order book to RM27.4 billion and signifies the sustained faith and confidence our clients have in the Group's capabilities and ability to deliver," he added.

"In the past one year that the Group's SapuraKencana Drilling division has been operating within the Group, it has successfully and on a sustained basis delivered a steady stream of new business for the Group. We expect to see this grow further," he added.

Two new contracts were awarded to the Group's wholly-owned subsidiary, Petcon (Malaysia) Sdn Bhd, by Petronas Carigali Sdn Bhd for the provision of its two tender assist drilling rigs, SKD T-9 and SKD-T-10, for development drilling campaigns offshore Malaysia. The SKD T-9 contract is for 5 years with an option to extend a further 2 years and will become effective from July 2014-June 2019. The SKD-T-10 contract will be for 3 years with an option to extend for 2 more years and be effective from August 2014 to July 2017.

The third new contract was awarded to the Group's wholly-owned SapuraKencana Drilling Asia Limited by Chevron Thailand Exploration and Production Ltd for the provision of its tender assist drilling rig SKD T-18 for offshore development drilling in Thailand. The SKD T-18 contract is for 5 years from June 2014 to May 2019.

A contract extension was granted to Seadrill Jaya Ltd, another wholly-owned SapuraKencana company, for the provision of offshore drilling rig and services by its tender assist drilling rig "West Jaya" by BP Trinidad & Tobago LLC (BP T&T) for offshore development drilling in Thailand. The contract extension is for 1 year from August 2014 to July 2015.