Kuala Lumpur, 28 November 2018
Sapura Energy Berhad (Sapura Energy) marked a significant milestone in its growth strategy when its wholly-owned subsidiaries, Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia, were selected to join Saudi Aramco’s Long-Term Agreement (LTA) programme.
The LTA programme covers engineering, procurement, fabrication, transportation and installation (EPCI) contracts to support Saudi Aramco’s offshore projects.
Joining the major league of international service providers as an LTA contractor, Sapura Energy will participate in bids for EPCI opportunities by Saudi Aramco. The LTA programme will be for a period of six years with options for extension.
“We are honoured to be selected by Saudi Aramco for its LTA programme. This win is a major milestone for Sapura Energy in line with our strategy to grow the business and deepen our presence in the Middle East,” said Tan Sri Shahril Shamsuddin, President and Group Chief Executive Officer, Sapura Energy, who was the signatory for the company at the signing event held in Dammam, Saudi Arabia on Monday, 26th November 2018.
Sapura Energy qualified as an LTA contactor after successfully undergoing an extensive assessment and meeting rigorous operational and safety requirements.
A key component of the LTA is Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) programme which aims to drive local value creation with the LTA contractors.
Sapura Energy is taking proactive steps to fulfil its IKTVA commitments by partnering local businesses and developing local capabilities by leveraging on its in-house technical and project management expertise as well as its world-class fleet of offshore construction assets.
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 forwardlooking 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.