Sapura Energy bags 5 new contracts worth RM1.3 billion

KUALA LUMPUR: Sapura Energy Bhd has bagged five new engineering, construction and drilling contracts worth RM1.3 billion.

In a filing with Bursa Malaysia, the company said the new contracts include a submarine rescue service contract for the Royal Australian Navy.

This also marks a new entry into Egypt for the group, with a contract for works in the Gulf of Suez.

Its subsidiary Sapura Offshore Sdn Bhd secured a subcontract for new subsea pipelines from Egyptian company Pan Marine Petroleum Services.

“The contracts demonstrate Sapura Energy’s continued pursuit to deepen its presence in existing core markets, breaking into new markets and expanding its scope of services.

“The growing order book is expected to increase asset utilisation for the group and contribute to improving its financial performance,” it said.

Sapura Energy also said Sapura Drilling Asia Sdn Bhd had secured two new contracts.

The first is a provisioning job for ExxonMobil Exploration and Production Malaysia Inc’s tender-assisted drilling rig, Sapura T-9.

The other is the extension of a contract by Petronas Carigali Sdn Bhd for the provision of semi-tender assisted drilling rig Sapura Berani.

The list of contracts also includes Sapura Offshore’s joint-venture with Indonesian company PT Timas Suplindo for engineering, procurement, construction and installation works of two 16-inch diameter offshore rigid pipelines from its Jangkrik facility to a future manifold near the Merakes drilling centres.

Sapura Energy currently has 10 key operating centres around the globe.