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154
SapuraCrest Petroleum Berhad
Annual Report 2010
noteS to the FinAnCiAl StAtementS
31 January 2010
38. SigniFiCAnt eventS (Cont’D)
e) On 2 October 2009, SapuraAcergy Sdn Bhd, a jointly controlled entity, was awarded a contract from Apache Energy Limited for
the transportation and installation of offshore facilities in Australia (“Works”).
The engineering and project preparations will commence immediately, while offshore installation is scheduled to commence in
late 2010.The Works are expected to be completed by early 2011 and the value of the contract is approximately USD170 million.
f) On 24 December 2009, TL Offshore Sdn Bhd (“TLO”), a wholly owned subsidiary of the Company, was awarded a joint contract
(“Contract”) by 11 of Petronas’ Production Sharing Contractors (“PSCs”) for the provision of works and services for the
transportation and installation of offshore oil and gas facilities and structures for the PSCs for the years 2010 to 2012 (“Works”)
with options for 2 further extensions of 1 year each. The scope of Works and the project schedule shall be specified and
determined on a yearly basis. The price for the confirmed scope of Works for the year 2010 is approximately RM1.5 billion.
Works are expected to commence in March 2010 around various offshore locations in Malaysian waters.
g) On 22 January 2010, Offshore International FZC, a jointly controlled entity, received a Notice of Award from Larsen & Toubro
Limited for the provision of works and services for the transportation and installation of four platform jackets in the Mumbai
High North Field, offshore Mumbai (“Works”).
Works are expected to commence in November 2010 and to be completed in January 2011. The price for the Works is
approximately USD75 million.