Sembcorp Marine subsidiary SMOE secures contract for the construction of an offshore platform for the North Sea

Wednesday, Jul 02, 2008

SMOE, a subsidiary of Sembcorp Marine has secured a contract worth some US$400 million from Maersk Olie og Gas AS for the construction of a HBD Platform to be installed in the Danish sector of the North Sea.

The contract entails the provision of engineering, procurement, construction, onshore commissioning, load-out and seafastening services for the HBD jacket, piles, topsides, flare and three connecting bridges, which has a total weight of about 16,500 tons, for the Halfdan Phase IV Development Project.

Facilities on the platform topsides will include processing, power generation and utilities. Construction is expected to commence in November 2008 with onshore completion scheduled 1st June 2010.

Mr Chew Sang Mon, SMOE’s General Manager for Commercial and Business Development said “This is the third major contract awarded by Maersk Olie og Gas for operations in the North Sea and the biggest single contract secured by SMOE to-date. In 1998, we had successfully completed two Wellhead Platforms for Maersk Oil Qatar for their Al Shaheen Field. This repeat order is a testament of Maersk Olie og Gas’ confidence in our turnkey capabilities and proven expertise in constructing offshore platforms and ability to meet stringent requirements for the North Sea.”

The contract is not expected to have any material impact on the net tangible assets or earnings per share of Sembcorp Marine for the current financial year.

About Maersk Olie Og Gas AS

Maersk Olie og Gas As (Maersk Oil) and its subsidiaries are owned by A.P. Moller-Maersk As and are part of the A.P. Moller Maersk Group.

Maersk Oil was established in 1962, when Mr. A.P. Moller was awarded the Concession for oil and gas exploration and production in Denmark. Today, Maersk Oil is a mid-size international oil and gas company operating an oil production of more than 600,000 barrels per day and a sales gas production of up to some 1,000 million cubic feet per day. The company has an equity production exceeding 550,000 barrels of oil equivalent per day from fields in the Danish and British part of the North Sea, offshore Qatar, in Algeria and in Kazakhstan. Activities are ongoing in the Danish, British, German and Norwegian sectors of the North Sea, Qatar, Algeria, Kazakhstan, Angola, US Gulf of Mexico, Turkmenistan, Oman, Morocco and Brazil.

About SMOE

SMOE, a fully-owned subsidiary of Sembcorp Marine, is a recognised leader in the engineering and construction of offshore production platforms and floating production facilities for the global oil and gas industry.

With a proven track record of more than 30 years, the company is capable of delivering a full range of turnkey solutions in engineering, procurement and construction through to transportation, installation and commissioning. Its offshore engineering expertise includes the construction of fixed platforms, floating production systems, offshore installations, and the fabrication, integration and precommissioning of specialised topside modules.

Source: Sembcorp