Sapura Energy’s units bags RM879m worth of contracts

PETALING JAYA: Sapura Energy Bhd’s subsidiaries have been awarded contracts with a combined value of approximately RM879.01 million (equivalent to US$205.96 million).

In a filing with Bursa Malaysia yesterday, the group said its unit Sapura Offshore Sdn Bhd was awarded a subcontract works by PT Gunanusa Utama Fabricators (PTG).

It said the subcontract works consists of engineering, procurements, construction and installation of wellhead platforms, associated pipelines and tie-ins for the Zawtika development project in Myanmar. The project is expected to be completed in March 2018.

Furthermore, it said Sapura Offshore Sdn Bhd was awarded a contract to undertake the works for the Seria Crude Oil Terminal oil export system upgrade offshore single point mooring replacement by Brunei Shell Petroleum Co Sdn Bhd. Sapura Energy said the offshore works for the 21 months contract are scheduled to start in April 2018.

The group said Sapura Offshore was also awarded a contract to undertake transportation and installation balance subsea works for India’s Oil and Natural Gas Corp Ltd.

Meanwhile, it said Normand Sapura Pty Ltd was awarded a contract to undertake works for the provision of inspection, repair and maintenance services including saturation diving and remotely operated vehicle intervention works in Montara field from PTTEP Australasia. The work is expected to be completed by July 2017.

Sapura Energy said the contracts will have no effect on the issued and paid-up capital of the company, but are expected to contribute positively towards the group’s earnings for the financial year ending Jan 31, 2018.