Tuesday 28 May 2024
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KUALA LUMPUR (Sept 27): Sapura Energy Bhd has secured three new contracts and two contract extensions worth a combined value of approximately RM774 million in Malaysia, Brunei and Thailand for engineering and construction, and drilling works.

In a filing today, Sapura Energy said that in Malaysia, Sapura Fabrication Sdn Bhd has been awarded a contract from Petronas Carigali Sdn Bhd for procurement, construction and commissioning works of BNJT-K BN-84 well tie-in for Bardegg-2 and Baronia enhanced oil recovery development project.

The works are expected to be completed by 3QFY20, the group said.

Meanwhile, Sapura Drilling Asia Sdn Bhd was awarded a contract amendment and extension by Petronas Carigali for the provision of a semi-submersible tender-assist drilling rig, Sapura Berani.

It said the contract involved the drilling of five additional wells at Erb West, offshore Sabah and Dulang facilities, offshore Peninsular Malaysia, and is expected to be completed by 2QFY21.

In Brunei, Sapura Fabrication secured an engineering, procurement, construction and installation contract by Brunei Shell Petroleum Company Sdn Bhd for the Salman Project in the country.

Sapura Energy said the contract was divided into two parts, spanning three years starting from FY20 and ending in FY23.

Also in Brunei, Sapura Drilling Sdn Bhd has been given a contract extension from Brunei Shell Petroleum Company for the provision of a semi-submersible tender-assist drilling rig, Sapura Pelaut, and drilling services.

Sapura Energy said the extension was for one-year period from 1QFY21.

Meanwhile in Thailand, Sapura Drilling Asia Ltd was awarded a contract by PTT Exploration and Production Public Company Ltd for the provision of its tender assist drilling rig, Sapura T-17, services for one year starting from 1QFY21 plus options for extension, at the Bongkot field, offshore Gulf of Thailand.

Sapura Energy said with the contracts, its cumulative contract wins year-to-date total RM3.1 billion.

At the midday break, Sapura Energy shares were 1.75% or 0.5 sen higher at 29 sen for a market capitalisation of RM4.63 billion.

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