Friday 14 Jun 2024
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KUALA LUMPUR (Feb 10): Sapura Energy Bhd said today that its wholly-owned subsidiaries and joint venture (JV) company have been awarded RM1.85 billion worth of contracts and contract extensions, comprising engineering and construction, and drilling works in Saudi Arabia, Thailand, Brunei and Malaysia.

In Saudi Arabia, its subsidiaries Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia Co were awarded the In-Kingdom and Out-of-Kingdom CRPO 59 for three oil jackets in the Zuluf, Ribyan and Abu Sa’fah oil fields, by Saudi Aramco and Aramco Overseas Co BV. The works are expected to be completed by the first quarter of 2022. 

“We are honoured to be awarded the CRPO 59 (contract via release of purchase order 59) by Saudi Aramco, one of the world’s biggest oil and gas producers. This is a significant win for Sapura Energy, proving our technical capabilities.

“It also strengthens our strategy to grow the business and expand our presence in the Middle East,” said Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin in a statement.

In Thailand, Sapura Energy (Thailand) Ltd received an award of service request for Year 2021 Wellhead Platforms & Pipelines Installation and Wellhead Platforms removal campaign from Chevron Thailand Exploration and Production Ltd, Chevron Offshore (Thailand) Ltd and Chevron Pattani Ltd.

The scope of work comprises engineering, procurement, construction and installation of wellhead platforms and pipelines and the wellhead platforms removal, to be completed by the fourth quarter of its financial year ending Jan 31, 2022 (4QFY22).

In Malaysia, Sapura Offshore Sdn Bhd was awarded two contracts, comprising a contract for the transportation and installation of offshore facilities under the Pan Malaysia Transportation and Installation of Offshore Facilities (Year 2020), as well as an appointment as a subcontractor for the Transportation and Installation Works for the Wellhead Platform Jacket and Topside (Campaign 1) for Kasawari Gas Development Project.

Another unit, Sapura Geosciences Sdn Bhd, received a letter of award from Petronas Carigali Sdn Bhd for the provision of marine site investigation and pipeline route survey services for Bestari Field, to be completed by 2QFY22.

Meanwhile, Sapura Energy's JV company Sapura Baker Hughes TPS Sdn Bhd was awarded a 9.5-year contract for the comprehensive maintenance of Baker Hughes-supplied turbomachinery equipment under a long-term service agreement, commencing Feb 1, 2021.

In addition, its subsidiary Sapura Drilling Sdn Bhd secured a contract extension in Brunei for its semi-submersible tender assisted drilling rig Sapura Pelaut from Brunei Shell Petroleum Co Sdn Bhd, which covers a firm period of 145 days commencing April 2021.

Sapura Energy shares closed unchanged at 12.5 sen today, giving the group a market capitalisation of RM2 billion.

Edited ByTan Choe Choe
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