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Sapura Energy wins RM1 billion contracts, narrows net loss in Q1



KUALA LUMPUR, June 27 (Bernama) -- Sapura Energy Bhd has secured 10 new contracts for its engineering and construction and drilling segments worth RM1 billion across Malaysia, Thailand, Taiwan and Australia, including Sapura Energy’s first offshore wind farm contract.

 In addition, Sapura Energy has been selected for a frame agreement with Petroliam Nasional Bhd (Petronas) for fixed offshore structure works, said the company in a statement today.

 Sapura Energy’s unit Sapura Offshore Sdn Bhd has been awarded a contract by Yunneng Wind Power Co Ltd for the provision of transportation and installation of offshore wind turbine substructures.

The scope consists of transportation and installation of substructures (foundations) for offshore wind turbines at the Yunlin Offshore Wind Farm in Taiwan. 

Meanwhile, Sapura Fabrication Sdn Bhd has secured a six-year frame agreement from Petronas for the provision of engineering, procurement and construction of fixed offshore structure works.

The agreement consists of two packages, namely for fixed offshore structures of weight exceeding 7,500 metric tonnes (MT) and fixed offshore structures of weight not exceeding or equal to 7,500 MT, and is applicable for projects under the Petroleum Arrangement Contractors. 

For its drilling segment, Sapura Drilling Asia Sdn Bhd has won a contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of its semi tender-assisted drilling rig, Sapura Esperanza.

The scope comprises the provision of its semi-submersible tender assisted drilling rig services for the F14 field, offshore Malaysia, for two wells with multiple extension periods cumulating to 17 additional wells in aggregate.

Sapura Drilling Asia has also secured a contract from Petronas Carigali Sdn Bhd for the provision of its tender-assisted drilling rig, Sapura T-10, for the West Lutong drilling programme.

The contract covers drilling rig services for four wells at the West Lutong Field, with extension options of one-plus-one well.

Additionally, Sapura Drilling Asia Ltd has been awarded a contract by Chevron Thailand Exploration & Production Ltd for the provision of Sapura T-18. The work entails tender-assisted drilling rig services offshore Thailand. 

Building on its Light Well Intervention (LWI) capabilities and track record in Australia, Normand Sapura Pty Ltd has secured an LWI contract in two wells on the North West Shelf from Woodside Energy Ltd. 

Meanwhile, Sapura Energy narrowed its net loss to RM109.10 million in its first quarter ended April 30, 2019, from RM135.73 million in the same period year-on-year. 

Revenue for the quarter jumped to RM1.63 billion against RM845.17 million a year earlier.

-- BERNAMA




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