SapuraAcergy wins contract for Gumusut-Kakap field off Malaysia

SapuraAcergy was awarded a $ 825 mm contract in connection with the development of the deepwater Gumusut-Kakap field in 1,300 m of water, 120 km off Sabah, Malaysia, on Blocks J and K.
Sabah Shell Petroleum, operator of the Gumusut-Kakap field and a contractor for state-owned Petronas, earlier awarded the primary contract for that project to TL Offshore, a wholly owned subsidiary of SapuraCrest. Sabah Shell has 33 % interest in the project. Other interest owners are ConocoPhillips Sabah 33 %, Petronas 20 %, and Murphy Sabah Oil Co. 14 %.

SapuraAcergy in Kuala Lumpur is an equal joint venture between Acergy SA, London (formerly known as Stolt Offshore) and Sapura Crest Petroleum, a Malaysian oil and gas services contractor.
SapuraAcergy was formed in 2006 to operate the state-of-the-art deepwater pipelay and heavy lift ship Sapura 3000. It also plans, designs, and delivers complex integrated projects in harsh and challenging environments.

SapuraAcergy is contracted for engineering, procurement, transportation, and installation of an oil export pipeline and catenary riser, including the shore approach; flowlines, jumpers, steel catenary risers, pipeline end terminations, and flowline inline structure; and mooring wires, chains, and piles for a semisubmersible floating production system, including towing and installation.
Engineering will begin immediately. Offshore installation is scheduled to start in 2010 using the Sapura 3000 vessel.

SapuraAcergy's scope under the contract involves engineering, procurement, transportation and installation, offshore Malaysia in water depths of 1,200 meters, covering:
-- An oil export pipeline and catenary riser, including the shore approach.
-- Flowlines, jumpers, Steel Catenary Risers (SCRs), Pipeline End Terminations (PLET) and flowline inline structures (SLEDs).
-- Mooring wires, chains and piles for a semisubmersible Floating Production System (FPS) including towing to the offshore location and installation thereof.

Engineering will commence with immediate effect, with offshore installation scheduled to commence in 2010 using the Sapura 3000, SapuraAcergy's state of the art dynamic positioning heavy lift and deepwater pipelay vessel.
This project will be accounted for in the share of results of associates and joint ventures line in the Acergy accounts. For this reason, the value of this award will not appear in Acergy's reported backlog and revenue.

Jean Cahuzac, Chief Executive Officer, Acergy said, "The Gumusut-Kakap Project represents an important development for the deepwater market in Malaysia and for our Joint Venture."
"Building upon the recent operational successes of the Sapura 3000, we are confident that this high specification asset will perform strongly and enable our Joint Venture to deliver for us and our client."

Gumusut-Kakap
Located offshore Sabah, Malaysia, the Gumusut-Kakap field is in waters up to 1,200 meters deep in blocks J and K. In January 2008, Shell announced that the final investment decision was made on the Gumusut-Kakap field.
The Gumusut-Kakap field development will employ the region's first deepwater Floating Production System (FPS), with a processing capacity of 150,000 barrels of oil per day. Gumusut-Kakap will be developed using 19 subsea wells with oil exported via a pipeline to a new oil and gas terminal, which will be built in Kimanis, Sabah.