Sapura Energy expects improved operating environment

KUALA LUMPUR: Sapura Energy Bhd expects an improved operating environment in the year ahead amid continued global economic recovery and high crude oil prices due to geopolitical tensions in Eastern Europe that are driving energy importing countries to look for new sources of supply.

The oil and gas outfit said these factors and the sharply higher oil prices, which have so far besieged the financial year ending Jan 31, 2023 (FY2023), would underpin renewed investment in the oil and gas sector, driving demand for its services.