SapuraCrest Unit Bags RM605m Murphy Contract

TL OFFSHORE Sdn Bhd, a wholly-owned subsidiary of SapuraCrest Petroleum Bhd, has signed a contract with Murphy Sabah Oil Co Ltd to build 140km of gas pipelines for US$175.8 million (RM605 million).

In a statement to Bursa Malaysia yesterday, SapuraCrest said the pipeline will transport gas from Murphy’s Deepwater Kikeh Field to the Labuan Gas Terminal.

The Kikeh Field, located in excess of 1,300m water offshore Sabah, is Malaysia’s first deepwater development.

“The deepwater pipelay will be executed using the Sapura 3000 which is owned by the SapuraAcergy Group, the company’s 50 per cent joint venture company established with the Acergy Group,” SapuraCrest said.

The contract is expected to be completed by the first quarter of 2008.

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