SembMarine set to win US$490m contract from Statoil
Singapore rigbuilder Sembcorp Marine (SembMarine) expects to clinch an engineering, procurement and construction contract estimated at US$490 million (S$665.8 million) from Norwegian oil group Statoil Petroleum.
The two parties have signed a letter of intent after SembMarine was selected through a tender process. The actual awarding of the contract has yet to take place.
Under the contract, SembMarine's rigs and floaters unit will provide turnkey services on newbuild floating production storage and offloading (FPSO) hull and living quarters for the Johan Castberg field development.
The letter of intent is not expected to have any material impact on net tangible assets and earnings per share for the year ending Dec 31.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
China knockoff raid jolts a global throng of fake-fashion influencers
Tesla profits tumble but shares rise on new vehicle plan
Brokers’ take: CGS International upgrades Nanofilm to ‘hold’ despite lower target price
Roche cuts pipeline after research setbacks and sales drop