SINGAPORE (Dec 26): Sembcorp Marine, the engineering solutions provider to the global offshore, marine and energy industries, has announced the win of two new offshore platform contracts worth over $550 million.
The first contract will see SembMarine will team up with customer North Oil Company (NOC) to fabricate two well-head platforms for the Al Shaheen oil field, which is operated by NOC.
One of the world’s biggest oil reserves, Al Shaheen is the largest oil field in Qatar, contributing to 45% of the country’s oil production.
Under the contract, SembMarine will be involved in engineering, procurement, construction, installation, commissioning and offshore brownfield integration of the two well-head platforms.
In the second contract, SembMarine will fabricate certain platforms and bridges for Total E&P Danmark in the Tyra Redevelopment Project – the largest gas condensate field in the Danish sector of the North Sea.
To be ready in the first quarter of 2021, the development will see Tyra produce enough gas to power 1.5 million homes in Denmark upon completion.
The latest contract wins brings SembMarine’s new orders to $1.5 billion so far in 2019.
The group highlighted that some $530 million of these orders pertain to greener solutions, such as scrubber and ballast water management system retrofits as well as gas and renewable energy projects.
“Our latest contracts reflect the confidence that global players like NOC and Total have in our track record. We are excited to partner with them and look forward to expanding our footprint at the Al Shaheen and Tyra fields,” says Samuel Wong, SembMarine’s head of offshore platforms.
Share in Sembcorp Marine closed flat at $1.28 on Tuesday.
