Sembcorp Marine subsidiary bags £7 million UK contract

For bridge and flare structure works.

Sembmarine SLP Limited (SLP), a subsidiary of Sembcorp Marine, announced that it has secured a contract worth approximately £7 million to fabricate the Bridge and Flare Structures for Nexen Petroleum UK Ltd’s Golden Eagle Project. SLP is already the EPC provider for the Project’s Living Quarters Platform which, together with the Bridge and Flare Structures, is scheduled for delivery in May 2014.

The Bridge has a span of approximately 70 metres with an estimated weight of 550 tonnes. It will provide personnel and services access between the PUQ Platform and the Drilling Platform. The Flare is also approximately 70 metres long with an estimated weight of 225 tonnes.

Mr Paul Thomson, SLP’s Managing Director said “This is a very important award for us, as it underlines the confidence that the Nexen team has in SLP, and in addition it provides a step toward the growth and continuity planned for our business, employees, and client base. We are delighted for the opportunity to build on this strong partnership, and will continue to work closely with Nexen to achieve timely project deliverables, to the high levels of quality, safety, and environmental standards for which we are renowned.”

The contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2013.