Sapura Energy rides on new contracts

Choppy waters: Although the group is bidding for RM29.4bil of new jobs with additional prospective projects of RM63bil, clients could defer the awards until next year, according to a research house.

PETALING JAYA: The latest contract win amounting to RM611mil by Sapura Energy Bhd is positive news at a time when jobs are scarce in the oil and gas (O&G) sector.

However, the immediate challenge is the RM10bil debt which needs to be refinanced with 14 banks by next month, according to AmInvestment Bank.