Sapura Energy bags RM1.47 billion worth of contracts

PETALING JAYA: Sapura Energy Bhd has clinched five contracts with a total value of RM1.47 billion.

The oil and gas firm told Bursa Malaysia that Sapura Offshore Sdn Bhd was awarded contracts in relation to the Pan Malaysia transportation and installation of offshore facilities for Petronas Carigali Sdn Bhd and Sarawak Shell Bhd. The work will be executed throughout 2018.

Sapura Fabrication Sdn Bhd and partner Borneo Seaoffshore Engineering Sdn Bhd were awarded a contract for the provision of maintenance, construction and modification services under Package A (Offshore) - Sarawak Gas for Petronas Carigali.

The duration of the contract is five years expiring in September 2022 with an option to extend for another year.

Another contract awarded to Sapura Fabrication is the hook-up, commissioning and offshore construction services for Repsol Oil & Gas Malaysia Ltd. It is a call-out contract where works will be carried out according to work orders based on agreed unit rates and prices. The contract is for two years, expiring in September 2019 with an option to extend for another year.

Sapura Fabrication also bagged a contract for the provision of mechanical works for the flexi highdensity polyethylene plant for the Rapid Project. Work is expected to be completed by March 2019.

Meanwhile, Sapura Energy Do Brasil LTDA received a contract to build a pipeline for UTE Porto de Sergipe 1 combined cycle power plant. Work is expected to finish by Dec 31, 2018.

Sapura Energy shares closed 5 sen or 3.4% lower at RM1.40 yesterday.