Sapura Energy units join Saudi Aramco’s LTA programme

Signing ceremony: (from left): Shahri, Eastern Province deputy governor Prince Ahmed Fahad, governor Prince Saud Nayef and Saudi Aramco president and CEO Amin H. Nasser at the signing of the long-term agreement programme in Dammam, Saudi Arabia.

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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Sapura , Saudi , Aramco , LTA , oil , gas , contract , win


Did you find this article insightful?


Next In Business News

US expected to report slowest job growth in six months
MY EG gets 3-yr extension to provide RTD e-services
Supermax lower as investors sell on news
KLCI down, but energy stocks up on rising crude prices
Global banks face considerable risks in 2021
RAM expects banks’ provision for impairments to remain elevated
Ringgit opens higher on firmer oil prices
Mild profit taking of blue chips after strong run-up on Bursa
Maybank IB Research retains Hold for Axiata, TP RM3.90
Kenanga keeps forecasts on QL Resources

Stories You'll Enjoy