Kencana HL Sdn Bhd has secured a RM74million contract for the fabrication of Tapis R sub-structure for the Tapis Re-Development Project from ExxonMobil Exploration and Production Malaysia Inc.

Under the contract, Kencana HL would undertake the procurement, fabrication, testing, load-out and tie-down of sub-structures which include jacket, piles and related component which form part of tapis R central processing platform for the project located off the coast of Terengganu, said Kencana Petroleum.

It is a one-off engineering, procurement and construction contract expected to be delivered to ExxonMobil within the second quarter of calendar year 2013.

The contract is expected to contribute positively to the earnings and net assets per share of parent company, Kencana Petroleum Group, for the financial years ending July 31, 2012 to 2013.