Sapura Energy wins RM1.8bil new contracts

PETALING JAYA: Sapura Energy Bhd has secured nine new contracts worth RM1.8bil, bringing the the group’s contract wins to-date to RM4.5bil.

The integrated oil and gas services and solutions provider said the combined value of contracts secured by its units represented a three-fold jump or close to a 250% increase compared to the value achieved during the same period of the previous year – between February and June 2017.

With the new contract wins, the group would be executing a series of jobs across the upstream value chain in Malaysia, Australia, India and Mexico, it said in a filing with Bursa Malaysia.

Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin said the new contract wins were a continuation of the group’s strategy to expand its global footprint.

“We have had a strong and consistent growth from East to West, successfully strengthening our presence in existing markets while penetrating new markets and forging new partnerships.

“The group’s ability to secure these wins is anchored on its strong in-house capabilities, world-class assets, track record and broadened market reach which we have established and successfully built over the years,” he said.

Among the contract wins in Malaysia, Sapura Drilling Asia Sdn Bhd clinched a contract for the provision of its semi-submersible self-erecting tender assist drilling rig, Sapura Berani, and drilling services from Petronas Carigali Sdn Bhd for three wells.

In addition, Sapura Drilling has accepted an extension of its contract with Sarawak Shell Bhd/ Sabah Shell Petroleum Co Ltd for the provision of its semi-tender assist drilling rig, Sapura Esperanza.

In Australia, Sapura Energy Australia Pty Ltd won an award to undertake the provision of riserless light well intervention services for three wells in the Montara development area, Timor Sea.

Having secured its third contract win during the period, Sapura Fabrication will undertake Subsea Wells and Pipeline Replacement Project V for the Oil and Natural Gas Corp Ltd in India.

“The contract covers the laying of subsea pipelines, installation of umbilical and topside modification at the platforms,” the group said.

Sapura Mexicana S.A.P.I de C.V. in Mexico was awarded a contract to undertake engineering, procurement and construction of a pipeline.