June 20, 2014 8:00 pm JST

Bullish Sapura Kencana has $9 billion in orders to 2024

CK TAN, Nikkei staff writer

KUALA LUMPUR -- Sapura Kencana has announced two offshore contracts worth $415 million that bring the leading Malaysian oil and gas services provider's accumulated order book up to 28.7 billion ringgit ($9 billion) going forward to 2024.

     One new contract is from Carigali-PTTEPI Operating Company, an oil and gas joint venture between Malaysia and Thailand to build and run offshore oil platforms in the Gulf of Thailand.

     The second contract is in the North Malay Basin of the South China Sea and was awarded by Hess Exploration and Production Malaysia, a subsidiary of Hess Corporation in the U.S.

     The company also announced turnover of 2.4 billion ringgit ($74 million) for the first quarter ending April 30, a 50% year-on-year jump. The increase is largely due to the inclusion of earnings from Newfield Malaysia Holding, an upstream American-owned company that was acquired in February.

     Sapura Kencana operates in Malaysia, China, the Middle East, America and Brazil.