SapKen not affected by Brazil’s falling real

SapKen said the contract was for the procurement and construction of a 36 inch 18km sour gas pipeline linking two platforms in Ciudad del Carmen, Campeche, Mexico. It said that the scope of work comprises transportation and installation of pipelines, crossings, top side modifications and subsea works, including procurement and project management.

PETALING JAYA: SapuraKencana Petroleum Bhd (SapKen) is not affected by the political developments in Brazil that has caused the currency and capital markets in that country to take a beating, according to an analyst.

The analyst said that under the terms of the contract, SapKen was paid in US dollars for services it provided, something that insulated the company from the volatilty of the Brazilian real.