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Sapura Reports Close to $450M in New Contracts

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Sapura Energy said it has scored another nine new contracts valued at approximately 1.8 billion Malaysian ringgits (close to $450 million), bringing the accumulative value in contract wins to-date to 4.5 billion Malaysian ringgits ($1.12 billion) for the Group.

The combined value represents a three-fold jump or an increase of nearly 250 per cent compared to the value achieved in the same corresponding period of the previous year, between February to June 2017, the company noted.

Through its wholly-owned subsidiaries, the Group will be executing a series of diverse jobs across the upstream value chain in Malaysia, Australia, India and Mexico.

“These new contract wins are a continuation of our strategy to expand our global footprint. We have had a strong and consistent growth from East to West, successfully strengthening our presence in existing markets while penetrating new markets and forging new partnerships,” said Tan Sri Dato’ Seri Shahril Shamsuddin, president and Group CEO, Sapura Energy Berhad.

“The Group’s ability to secure these wins is anchored on our strong in-house capabilities, world-class assets, track record and broadened market reach which we have established and successfully built over the years,” he said.

Malaysia

In Malaysia, Sapura Drilling has been awarded a contract for the provision of its semi-submersible self-erecting tender assist drilling rig, Sapura Berani, and drilling services from Petronas for three wells in Malaysian waters.

In addition, Sapura Drilling accepted an extension of its contract with Shell for the provision of its semi-tender assist drilling rig Sapura Esperanza. The contract was combined with an additional assignment by Shell to EnQuest. The purpose built semi-submersible self-erecting tender assist drilling rig Sapura Esperanza will be used for one well for Shell in F14, offshore Sarawak and two wells for EnQuest at the Seligi field in Block PM8, offshore Terengganu.

Sapura Fabrication has been awarded a contract by its wholly-owned subsidiary, Sapura Exploration and Production (Sarawak) for the provision of engineering, procurement and construction (“EPC”) for SK408 Larak and Bakong development project. The fields will be developed as two separate wellhead platforms tied back to the existing processing facility and the PETRONAS MLNG complex in Bintulu.

Sapura Fabrication has also been awarded a contract by Sarawak Shell Berhad for the provision of EPC for SK408E Gorek Development and F6 Brownfield Integrated Module Project. The scope comprises EPC works for the Gorek wellhead platform and the new Brownfield Integrated Module on the F6 processing complex.

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