Sembcorp Marine bags US$1b North Sea contract

Sembcorp Marine has won a more than S$1.41 billion engineering, procurement and construction contract from Maersk Oil North Sea UK.
Sembcorp Marine has won a more than S$1.41 billion engineering, procurement and construction contract from Maersk Oil North Sea UK. PHOTO: SEMBCORP MARINE

SINGAPORE - Mainboard-listed Sembcorp Marine said Tuesday (Sept 01) it has won a more than US$1 billion (S$1.41 billion) engineering, procurement and construction contract from Maersk Oil North Sea UK to build three topsides for its Culzean Field development in the North Sea.

The contract amount, which includes long lead items, is for building a central processing facility, two connecting bridges, a wellhead platform and utilities and living quarters platform. The facility will be installed at a water depth of some 90 metres in UK sector of the Central North Sea.

Sembcorp Marine subsidiary SMOE Pte Ltd will provide engineering, procurement, construction and onshore pre-commissioning services while detailed engineering work will be performed by a subcontracting partner.

Said Mr Ho Nee Sin, SembMarine's head of offshore platforms: "We are pleased to secure this mega contract despite stiff competition from world class yards."

The contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2015.