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Sapura Energy subsidiaries bag RM840mil total contracts

The Star News, 17/September/2020

Sapura Energy Bhd 's subsidiaries and a joint venture have been awarded contracts and contract extensions worth a combined value of about RM840mil.

In a filing with Bursa Malaysia, the group said Sapura Energy Mexicana S.A.P.I. de C.V. has been awarded an engineering and construction job for the Eni Mexico S. de R. L. de C.V. Amoca Project – Offshore Block Area 1 in Mexico.

The works for this contract are expected to be completed by Q4FY22.
Meanwhile, a unit of a joint venture between Sapura Offshore Sdn Bhd and Seabras Serviços De Petroleo S.A was awarded with a 12-month extension for charter and service contracts by Petrobras in Brazil.

"The contract scope of work comprises the provision of services and charter for installation and recovery of flexible pipes, by utilizing Sapura Esmeralda in the Brazilian waters," the group said in the filing.

The 12-month extension will commence upon the expiry of the existing contract in April 2021.

Lastly, Sapura Drilling Holdings Ltd has been awarded a contract for the provision of its tender assist drilling rig “Sapura Berani” services by Foxtrot International LDC.

The contract comprises the provision of semi tender-assist drilling rig services for three wells commencing in Q1FY22 for a period of nine months offshore Ivory Coast, including the option for one well extension.

Sapura Energy said the contracts are expected to contribute positively to the earnings of the group and its subsidiaries for the financial year ending Jan 31, 2021 and for the duration of the contracts period.