Sapura Energy wins 7 contracts worth RM1.2bil

KUALA LUMPUR (Bernama) -- Sapura Energy Bhd has secured major contract wins and job extensions in Malaysia and Thailand for its engineering and construction (E&C), operations and maintenance (O&M), and drilling segments, worth about RM1.2 billion in total.

For the E&C segment, the group, through its subsidiary Sapura Offshore Sdn Bhd, secured contracts from PTTEP Sarawak Oil Limited (PTTEP) and EnQuest Petroleum Production Malaysia Ltd (EnQuest).

Sapura Energy said the scope of work from PTTEP included transportation and installation, engineering, surveying, and other optional works for eight months, effective Feb 2, 2021.

The contract award from EnQuest is for the replacement of a ten-inch gas lift subsea pipeline and risers, it added. "Scheduled for five months, the work is expected to complete by the fourth quarter of 2021,” said Sapura Energy in a statement today.

As for the O&M business segment, the oil company’s subsidiary Sapura Fabrication Sdn Bhd secured contracts from EnQuest, Sarawak Shell Berhad (SSB) and Sabah Shell Petroleum Company Ltd (SSPC).

The contract awarded by EnQuest is for the provision of maintenance, construction, and modification works as part of the extension of a production sharing contract.

The awards from SSB and SSPC were for the provision of topside major maintenance service works in various projects located in offshore Sabah and Sarawak from April 29, 2021 until Aug 19, 2023.

"During this period, SSB and SSPC may issue work orders on a call-off basis for actual work execution,” said Sapura Energy.

Sapura Drilling Asia Sdn Bhd won two contracts from Petronas Carigali Sdn Bhd (PCSB) for its drilling activities offshore Malaysia.

Sapura Energy said the first contract was for the provision of tender-assist drilling rig services for a duration of two years with an option of a two-year extension, commencing April 26, 2021 to April 25, 2023.

In the second award, Sapura Energy secured an integrated rig, drilling, and completion (i-RDC) services contract for six wells offshore Malaysia, with works to commence in the third quarter of 2021.

In Thailand, Sapura Drilling was awarded a contract, with an optional extension for up to 12 months, for the tender-assist drilling rig Sapura T-17 by PTTEP Energy Development Company Ltd.

"The duration of the contract is for three years, commencing between Oct 15, 2021 and Nov 15, 2021.

"Sapura Drilling also received a contract extension notification from PTT Exploration and Production and PETTEP International Ltd,” said Sapura Energy.

Sapura Drilling now has eight drillings rigs contracted for work in the third quarter of the financial year ending Jan 31, 2022, thereby increasing its fleet utilisation rate to 57 percent.

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