SapuraCrest Petroleum Bhd has embarked on a joint venture with international offshore deepwater contractor, Stolt Offshore, which hopes to secure between US$200mil and US$300mil worth of contracts in the Asia-Pacific region.
The cooperation agreement is a 50:50 equity arrangement to build, own, market, manage and operate the Sapura 3000, a heavy lift derrick and pipelay vessel designed to be a deepwater construction ship in the region.
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