Friday, 12 April 2019

Sapura Energy bags contracts worth RM1.3 bil

Sapura Energy Bhd has bagged five new engineering, construction and drilling contracts worth RM1.3 billion.

In a filing with Bursa Malaysia, the company said the new wins included a submarine rescue service contract for the Royal Australian Navy. 

The group has also marked a new entry into Egypt with a contract for works in the Gulf of Suez, through a subcontract for new subsea pipelines secured by its subsidiary, Sapura Offshore Sdn Bhd, from Pan Marine Petroleum Services Company.

"The contracts demonstrate Sapura Energy's continued pursuit to deepen its presence in existing core markets, breaking into new markets and expanding its scope of services.

"The growing order book is expected to increase asset utilisation for the group and contribute to improving its financial performance," it said.

Sapura Energy also said Sapura Drilling Asia Sdn Bhd had secured two new contracts — a provision job for ExxonMobil Exploration and Production Malaysia Inc's tender assist drilling rig, Sapura T-9, as well as the extension of a contract by Petronas Carigali Sdn Bhd for the provision of semi tender assisted drilling rig, Sapura Berani.

The list of contracts also include Sapura Offshore's joint-venture with PT Timas Suplindo on a contract for engineering, procurement, construction and installation works of two 16-inch diameter offshore rigid pipelines from Indonesia's Jangkrik facility to a future manifold near the Merakes drilling centres.

Sapura Energy currently has 10 key operating centres around the globe.