Thursday 30 May 2024
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KUALA LUMPUR (June 3): Sapura Energy Bhd has secured five new contracts for its engineering and construction (E&C) division worth a total of RM766 million combined.

The first contract was secured by its subsidiary Sapura Offshore Sdn Bhd for the PRP7 Pipeline Replacement Project by Brunei Shell Petroleum Co Sdn Bhd in Brunei, which is expected to be completed by the first quarter ending April 30, 2022 (1QFY22).

“The contract scope of work comprises the replacement of the 16-inch 9.4km pipeline, including topside modification, and riser and pipeline demolition, as well as an optional scope of the replacement of the 6-inch one-kilometre pipeline PID2008 including topside modification, and riser and pipeline demolition,” said Sapura Energy, in a filing with Bursa Malaysia today,

Sapura Offshore also bagged the second contract, together with its consortium partner Dredging International Asia Pacific, for the engineering, procurement, construction and installation contract for the single buoy mooring (SBM) Pipeline Rejuvenation Phase II Project in Singapore by Shell Eastern Petroleum (Pte) Ltd.

The contract, which is expected to be completed by 3QFY23, involves pre-emptive repair of the nearshore pipeline section, rejuvenate the SBM system and optional removal of existing pipeline to ensure fitness for service of the crude offloading system to Bukom Refinery in Singapore.

On the home front, Sapura Offshore bagged an award under the Umbrella Contract for Pan Malaysia Transportation & Installation of Offshore Facilities (2017-2020) from Hess Exploration and Production Malaysia B.V. that is to be completed by 4QFY21.

Sapura Offshore also secured another job for the provision of engineering, procurement, construction and installation (EPCI) services for the Additional Andalas Pipeline Project Phase 4 Development in the adjacent Malaysia Thailand Joint Development Area (MTJDA), from Carigali-PTTEPI Operating Company Sdn Bhd (CPOC).

The contract scope of work includes engineering, procurement, construction, installation and pre-commissioning of a 20-inch 29-kilometer subsea pipeline, including riser and riser guard installations, said Sapura Energy, adding that the job has been effective since April 30, 2020 and is to be completed within 15 months.

Additionally, Sapura Energy, via its subsidiary Sapura Energy (Thailand) Ltd, also received an award from Chevron Thailand Exploration and Production Ltd (CTEP) for its Asset Retirement Offshore Removal Campaign in Thailand.

To commence in the financial year ending Jan 31, 2021 (FY21), the contract scope of work consists of project management, engineering, procurement, offshore heavy lifting vessel and transportation spread to decommission seven offshore jackets, wet tow and reef jacket at a reef site, said Sapura Energy.

Sapura Energy’s shares closed half a sen or 4.76% lower at 10 sen today, valuing it at RM1.6 billion.

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