PETALING JAYA: Sapura Energy Bhd and its consortium partner have won a RM3 billion contract from Oil and Natural Gas Corp Ltd (ONGC) in India.
The consortium partners comprising Sapura Energy’s wholly owned subsidiary Sapura Fabrication Sdn Bhd and Afcons Infrastructure Ltd, will be jointly undertaking engineering, procurement, construction, installation and commissioning (EPCIC) works for a Central Processing Platform and Living Quarters for KG-DWN 98/2 NELP block.
The block, located offshore the Godavari Delta on the east coast of India, covers an area of about 7,295 kilometres of the Krishna-Godavari basin with water depth ranging between 300 metres to 3,200 metres.
Sapura Fabrication’s share in the consortium is 48.3% which translates to about RM1.47 billion in contract value. The works are expected to be completed by January 2021.
Sapura Energy said the new contract win enhances the group’s presence in the growing market
“The project is an opportunity for Sapura Energy to participate in a key development for ONGC, leveraging on the company’s established deepwater knowledge and capabilities.”
Afcons is the construction arm of India’s engineering and construction conglomerate Shapoorji Pallonji Group.
Sapura Energy expects the contract to contribute positively towards its earnings for the financial year ending January 31, 2019, and for the financial period thereafter within the duration of the contract.
