KUALA LUMPUR (Feb 26): Sapura Energy Bhd (KL:SAPNRG) has secured multiple contracts with a combined value of approximately RM3.2 billion, including optional periods granted in some contracts.

The contracts, awarded to its drilling arm Sapura Drilling, span across key clients and regions, according to the group’s media release on Wednesday.

Among the new wins, Sapura Drilling secured two contracts from PTTEP Energy Development Ltd for the deployment of its tender assist drilling rigs (TADR) Sapura T-17 and Sapura T-18.

The projects, set to commence in the second quarter of the financial year ending Jan 31, 2026 (FY2026), come with a five-year firm period and an optional extension of three years.

In central western Africa, Angola, Sapura Drilling clinched a contract extension from Cabinda Gulf Oil Company Ltd (CABGOC), a subsidiary of Chevron, for the Sapura Jaya rig. The extension began in November 2024 and runs through to November 2025.

Closer to home, ExxonMobil Exploration and Production Malaysia Inc (EMEPMI) awarded a 30-month development drilling contract for the Sapura Berani drilling rig, commencing in the first quarter of FY2026.

Simultaneously, EnQuest Petroleum Production Malaysia Ltd awarded a contract for the Sapura Esperanza rig to drill four development wells offshore Malaysia.

“These contract wins reflect our ability to deliver value-driven solutions and strengthen client confidence in Sapura Energy,” said Sapura Energy group chief executive officer Muhammad Zamri Jusoh in the statement. “As we grow our order book, we remain committed to operational excellence and long-term value creation.”

With these additions, Sapura Energy — which has been in Practice Note 17 (PN17) status since end-May 2022 — sees its group order book swelling to RM8.7 billion, while its joint ventures hold an additional RM5.7 billion in contracts.

In addition to the drilling contracts, Sapura Energy’s engineering and construction (E&C) segment also secured projects in Brazil and Australia for pipeline installation and asset removal projects. These contribute to the group's overall order book.

Shares of Sapura Energy closed unchanged at three sen on Wednesday, with a market capitalisation of RM551.3 million.