Sapura Energy bags RM1.2b deals

For the E&C segment, Sapura Offshore wins a contract from PTTEP Sarawak Oil and EnQuest under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 campaign

by NUR HAZIQAH A MALEK / Pic source: sapuraenergy.com

SAPURA Energy Bhd has secured RM1.2 billion in fresh contracts and extensions in Malaysia and Thailand for its engineering and construction (E&C), operations and maintenance (O&M) and drilling segments.

For the E&C segment, the global integrated energy solution provider stated its subsidiary, Sapura Offshore Sdn Bhd, won a contract from PTTEP Sarawak Oil Ltd and EnQuest Petroleum Production Malaysia Ltd under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 campaign.

The scope of work includes transportation and installation, engineering, survey, interfacing, topside installation and handover, removal of temporary structures, and other optional works of Pemanis Wellhead Platform Topside.

The contract duration is eight months, effective Feb 2, 2021, the company stated in an exchange filing yesterday.

The contract from EnQuest is for the replacement of 10-inch Seligi-AC to Seligi-B gas-lift subsea pipeline and risers, including transportation and installation of offshore facilities.

The work duration is five months, expected to be completed by the fourth quarter this year.

For the O&M segment, Sapura Energy’s unit, Sapura Fabrication Sdn Bhd, has clinched contracts from EnQuest, Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Co Ltd (SSPC).

The jobs awarded by EnQuest are to maintain, construct and modify the PM8 extension production sharing contract from EnQuest.

The award is a farm-in arrangement with a contract entered into with ExxonMobil Exploration and Production Malaysia Inc for a year effective March 14, 2021.

The contract scope of work comprises project management, fabrication, offshore maintenance, construction and modification work including tools, equipment, material and consumables.

During the period, EnQuest may issue work orders on a call-off basis for actual work execution.

Sapura Fabrication also received an award for the provision of topside major maintenance services from SSB and SSPC, effective from April 29, 2021, until Aug 19, 2023.

For the drilling segment, Sapura Drilling Asia Sdn Bhd received an award from Petronas Carigali Sdn Bhd for the provision of tender-assist drilling rigs for drilling activities offshore Malaysia for two years, which commenced April 26, 2021, until April 25, 2023.

It has also been awarded an integrated rig, drilling and completion services contract by Petronas Carigali for six wells offshore Malaysia, which will be executed by Sapura Esperanza semi-submersible tender-assist drilling rig commencing the third quarter of 2021.

In Sapura Energy’s Thailand operation, Sapura Drilling Asia Ltd has bagged a contract from PTTEP Energy Development Co Ltd to provide tender-assist drilling rig Sapura T-17 for a duration of three years, commencing between Oct 15, 2021, to Nov 15, 2021, and optional extensions for up to 12 months.

Sapura Drilling Asia also received notifications of contract extensions from PTT Exploration and Production Public Co Ltd and PTTEP International Ltd for its tender assist drilling rig Sapura T-18, which is for additional four months from June 27, 2021, to Oct 31, 2021.

Sapura Energy shares rose 4.17% to 12 sen, giving a market value of RM2 billion.