Sapura Energy units join Saudi Aramco’s LTA programme
PETALING JAYA: Sapura Energy Bhd’s wholly owned subsidiaries, Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia, have been selected to join Saudi Aramco’s long-term agreement (LTA) programme that covers engineering, procurement, fabrication, transportation and installation (EPCI) contracts to support Saudi Aramco’s offshore projects.
In a statement yesterday, Sapura Energy said the LTA programme would be for a period of six years with options for extension.
“Joining the major league of international service providers as an LTA contractor, Sapura Energy will participate in bids for EPCI opportunities by Saudi Aramco.”
In the same statement, Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin said the group was honoured to be a part of the programme.
“This win is a major milestone for Sapura Energy in line with our strategy to grow the business and deepen our presence in the Middle East.”
Sapura Energy qualified as an LTA contactor after successfully undergoing extensive assessment and meeting rigorous operational and safety requirements. A key component of the LTA is Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) programme, which aims to drive local value-creation with the LTA contractors.
Shahril said Sapura Energy is taking proactive steps to fulfil its IKTVA commitments by partnering local businesses and developing local capabilities by leveraging on its in-house technical and project management expertise, as well as its world-class fleet of offshore construction assets.