Sapura Energy sees earnings recovery

Sapura Energy Bhd president and group CEO Tan Sri Shahril Shamsuddin

KUALA LUMPUR: Sapura Energy Bhd is confident that all its divisions – engineering and construction (E&C), drilling, as well as exploration and production (E&P) – will turn profitable within 12 months, driven by higher utilisation of its assets.

President and group chief executive officer Tan Sri Shahril Shamsuddin said the group’s earnings recovery would be seen from its E&C business securing more contracts and an improving rig utilisation rate at its drilling division to about 70% in 12 months from 50% currently.