Sapura Energy Berhad (Sapura Energy) registered a strong start to its financial year with five new contracts valued at approximately RM1.3 billion for its Engineering and Construction as well as Drilling segments. Among the new wins is the Submarine Rescue Service contract for The Royal Australian Navy, which is a first undertaking for the Group. Sapura Energy also marked a new entry into Egypt for works in the Gulf of Suez, along with other wins across Malaysia and Indonesia.
The contract wins demonstrate Sapura Energy’s continued pursuit to deepen its presence in existing core markets, break into new markets and expand its scope of services. The growing orderbook is expected to increase asset utilisation for the Group and contribute to improving its financial performance. The Group now has 10 key operating centres to execute work strategically around the globe.
First entry into Egypt for deep water works
Marking a new footprint in Egypt, Sapura Offshore Sdn Bhd (Sapura Offshore) has been awarded a subcontract by Pan Marine Petroleum Services Company. The scope of work comprises the installation of six new subsea pipelines in the Gulf of Suez for the Gulf of Suez Petroleum Company (GUPCO), a joint venture between BP plc and Egyptian General Petroleum Corporation, the National Oil Company of Egypt. Works will be carried out in various locations in the Morgan field, with an expected total pipelay of approximately 57 kilometres.
Mobilising two drilling rigs in Malaysia
For its Drilling segment, Sapura Drilling Asia Sdn Bhd (Sapura Drilling) has secured two new contracts. The first contract is from ExxonMobil Exploration and Production Malaysia Inc. for the provision of its tender assist drilling rig, Sapura T-9. The scope comprises the provision of barge tender assisted drilling rig services for a period of three years at the Tabu field, offshore Peninsular Malaysia. Sapura Drilling has also been awarded a contract extension by PETRONAS Carigali Sdn Bhd for the provision of semi tender assisted drilling rig, Sapura Berani. The contract entails the drilling of nine wells at the Sumandak, Erb West and Dulang facilities, offshore Sabah and Peninsular Malaysia.
Deep water EPCI works for ENI
In Indonesia, Sapura Offshore, in a joint venture with PT Timas Suplindo, has won a contract from ENI East Sepinggan Limited, a subsidiary of multi-national oil company ENI S.p.A. The contract is for Engineering, Procurement, Construction and Installation works of two 16-inch diameter offshore rigid pipelines from the Jangkrik facility to a future manifold near Merakes drilling centres. Works will be carried out at water depths of between 70 metres to 1400 metres. The total length of the pipeline system is approximately 95 kilometres. The scope of work includes design, fabrication and offshore installation of foreseen structures, deep water pipeline end terminations (PLETs) and in-line tee (ILT) systems for the East Sepinggan Block, East Kalimantan, Indonesia.
Rescue system for The Royal Australian Navy with capability to support NATO
Undertaking its first contract for The Royal Australian Navy, Total Marine Technology Pty Ltd (TMT), a subsidiary of the Group, has been awarded key roles in the Submarine Rescue Service contract by Phoenix International (Australia) Pty Ltd. TMT has been selected to design and fabricate a Remotely Operated Vehicle, including to design and supply the external propulsion and non-life support-related electrical and control systems as well as the Submarine Rescue Bell. The rescue system will be accepted into operational service in 2022 and will be one of four air transportable systems in the world. The ‘primary mission’ of the system is to deliver rescue capability to The Royal Australian Navy’s submarine fleet. The system will also be capable of supporting other submarine operating nations by means of the NATO (North Atlantic Treaty Organisation) standard escape hatch.
Cautionary note: “Sapura Energy”, “the group” and “the company” are used for convenience where references are made to Sapura Energy Berhad in general. Similarly, words like “we”, “us” and “our” are used to refer to Sapura Energy Berhad in general or to those who work for the company and its subsidiaries, where relevant. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan”, “forecast” or similar expressions and include all statements that are not historical facts.