Sapura Energy bags RM1.75b contracts in Mexico, Malaysia

Kenanga Research said while the outlook is expected to improve from financial year 2020 (FY20) onwards, it has maintained its

KUALA LUMPUR:  Sapura Energy Bhd's units have secured contracts in Mexico and Malaysia with a combined value of RM1.75bil.

It said on Wednesday its unit secured a job from  Hokchi Energy S.A. de C.V. to undertake engineering, procurement, construction, transportation and installation in the Hokchi field development in the Gulf of Mexico. 

Sapura Energy said the project was expected to be completed by end of of the first quarter of 2020.

It also said its unit bagged a contact from  ENI Mexico S. de. R.L de. C.V to undertake engineering, procurement, construction, transportation and installation in the Offshore Block Area 1 in the Gulf of Mexico. The works are expected to be completed by end of the second quarter 2019.

Meanwhile, its unit Sapura Subsea Services Sdn Bhd was awarded a five-year contract to provide underwater services for Petroleum Arrangement Contractors (PACs), package C by four companies.

The four are Sarawak Shell Bhd /Sabah Shell Petroleum Company Ltd; Murphy Sarawak Oil Co., Ltd / Murphy Sabah Oil Co., Ltd;  Repsol Oil & Gas Malaysia Ltd; and Kebabangan Petroleum Operating Company Sdn Bhd. 

Sapura Energy said the scope of work consists of underwater services which includes the utilisation of vessels, air and saturation diving, remotely operated vehicles.