TL Offshore renews Petronas field service contract

SapuraCrest Petroleum Bhd. subsidiary TL Offshore Sdn. Bhd. has extended a three-year contract worth $866.6 million to provide field related services to Petronas Carigali Sdn. Bhd.

Offshore staff

KUALA LUMPUR, Malaysia -- SapuraCrest Petroleum Bhd. subsidiary TL Offshore Sdn. Bhd. has extended a three-year contract worth $866.6 million to provide field related services to Petronas Carigali Sdn. Bhd.

The contract runs through March 25, 2010, and covers work on oil and gas producing fields in the South China Sea, including Angsi, Samarang, Sumandak, Bekok, and Bertam.

The work scope includes subsea pipeline installation as well as transportation and installation of drilling, production, and wellhead platforms

Prior to the renewal of the contract, SapuraCrest had $567.15 million worth of contractual commitments with Petronas since 2004.

8/1/2007

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