SapuraCrest Petroleum Bhd's current gross order book is expected to rise by nine per cent to RM9.3 billion following the award of a contract in Gorgon natural gas project, off Western Australia, by Subsea 7 SA.
In a report today, AmResearch said Subsea 7, which recently secured a US$440 million (US$1=RM2.97) construction contract in the area, planned to use the derrick-pipelay vessel, Sapura3000, owned by SapuraAcergy SA, a 50-per cent subsidiary of SapuraCrest, in 2013.
"Sapura3000 is expected to secure almost 60 per cent of Subsea 7’s Gorgon
contract value," it said.
The research firm has reiterated its 'buy' call on SapuraCrest with an unchanged fair value of RM5.44. -- Bernama
In a report today, AmResearch said Subsea 7, which recently secured a US$440 million (US$1=RM2.97) construction contract in the area, planned to use the derrick-pipelay vessel, Sapura3000, owned by SapuraAcergy SA, a 50-per cent subsidiary of SapuraCrest, in 2013.
"Sapura3000 is expected to secure almost 60 per cent of Subsea 7’s Gorgon
contract value," it said.
The research firm has reiterated its 'buy' call on SapuraCrest with an unchanged fair value of RM5.44. -- Bernama
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