Thursday 30 May 2024
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KUALA LUMPUR (April 27): Sapura Energy Bhd said today its wholly-owned subsidiaries in engineering and construction (E&C) have been awarded six contracts with a combined value of approximately RM1 billion.

The group said in a bourse filing today that its subsidiary Sapura Fabrication Sdn Bhd has been awarded a Variation Order — Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) of Gas and Condensate Mercury Removal Unit (MRU) Facilities under the existing contract for the provision of EPCIC for the Pegaga Development Project by Mubadala Petroleum.

The location of the work is off the coast of Sarawak, offshore Malaysia and the works are expected to be completed by the third quarter of 2022.

Sapura Fabrication was also awarded a contract from Hess Exploration and Production Malaysia BV for the provision of engineering, procurement, construction and commissioning for Full Field Development (FFD) Phase 4A Facilities North Malay Basin (NMB) under the Petronas Frame Agreement — Package B.

The works are expected to be completed by the first quarter of its financial year ending Jan 31, 2025 (1QFY25).

Meanwhile, Sapura Technology Solutions Sdn Bhd has been awarded a price agreement for supply, maintenance, delivery, installation, testing and commissioning of Total Management System and SETEL for Petronas Station by Petronas Dagangan Bhd.

The contract's effective date is Jan 1, 2021.

Sapura Offshore Sdn Bhd has been awarded a work order for Bakau NAG Development Project under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 Campaign by Petronas Carigali Sdn Bhd.

It has also been awarded a work order for Bayan Gas Redevelopment Phase 2 Project under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 Campaign by Petronas Carigali Sdn. Bhd.

Both the work durations are for the calendar year 2021.

Meanwhile, Sapura Fabrication has been awarded an optional scope of works for the engineering and construction of a wellhead platform for Egret East Project from Brunei Shell Petroleum Company Sdn Bhd (BSP) which was exercised by BSP under the contract for the provision of engineering, procurement, construction and installation entered between BSP and Sapura Fabrication on Aug 30, 2019.

The works are expected to be completed by 2QFY23.

“The contracts are expected to contribute positively towards the earnings of Sapura Energy and its group of companies for the relevant financial periods within the duration of the contracts,” said Sapura Energy.

Sapura Energy shares closed unchanged at 13 sen today, valuing the group at RM2.08 billion.

Edited ByLam Jian Wyn
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