KUALA LUMPUR (May 8): Kencana Petroleum Bhd's unit Kencana HL Sdn Bhd has been awarded RM460 million engineering, procurement, construction and commissioning (EPCC) contract from Murphy Sarawak Oil Co Ltd.
In a statement on Bursa Malaysia on Tuesday, Kencana said that its subsidiary had received a letter of award from Murphy for the fabrication of offshore topsides.
“It is estimated value of the contract is between RM460 million to RM474 million and is expected to commence in the first half of 2013.”
"The Contract is expected to contribute positively to the earnings and net assets per share of Kencana Petroleum Group for the duration of the Contract," it said.