The Star reported that Kencana Petroleum Bhd wholly owned unit Kencana HL Sdn Bhd has been awarded a MYR 46 million contract by US based Newfield Peninsula Malaysia Inc.

Kencana said that the one off construction contract was for the fabrication and procurement of jacket and topside for West Belumut Wellhead Platform.

The contract is expected to contribute positively to the earnings of Kencana group for the financial year ending July 31st 2009.

Kencana said that risk factors affecting the contract included but were not limited to execution risks such as availability of skilled manpower and materials, changes in prices of materials, as well as changes in political, economic and regulatory conditions.

(Sourced from thestar.com)