Kencana JV secures RM33m offshore support vessel project

KENCANA PETROLEUM BHD []'s unit Kencana Nautilus Sdn Bhd and its partner Yinson Marine Services Sdn Bhd have secured a service contract to provide the provision of offshore support vessel.

Kencana said the contract encompasses providing the vessel to assist and service drilling rigs, offshore installations, derrick barges, diving vessels and other crafts, including anchor handling services off the coast of Vietnam.

"The project owner and the end user of the vessel is Petronas Carigali Vietnam Limited, an oil & gas joint-venture operating company based in Ho Chi Minh City," it said.

It added the contract is for one year with an option to extend for another year period. The value of the contract for the two year duration is RM33 million.

Boost for Hexagon as cracking plant resumes

HEXAGON HOLDINGS BHD [] is expected to resume CONSTRUCTION [] of a cracking and separation plant in Kuantan following the go-ahead from its client.

It said on Thursday, April 15 the client had on Tuesday directed it to resume the construction, which had been suspended since February 2009.

Hexagon said the voluntarily suspension then was due to uncertainties in the client's financing structure for the plant which is at the Gebeng industrial estate.