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  • 2011 September 23 09:47

    Malaysia's SapuraCrest awards $227 mln vessel job to China's Cosco Nantong

    Malaysia's SapuraCreat Petroleum :
    * Says wholly-owned subsidiary, TL Offshore Sdn Bhd awarded contracts to China's Cosco Nantong Shipyard Co. Ltd to build two pipelay cum heavylift offshore construction vessels for $227 million.
    * Says vessel 1 and vessel 2 will be completed and delivered to TLO within 28 and 26 months, respectively, from the effective date of the letter of award and the commencement date of the works from 23 August 2011.
    * Says funding for the vessels to come from bank borrowings and internally generated funds.
    * Said: "The vessels will be slotted to perform marine construction contracts for major oil companies.", Reuters reports.
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