Malaysian offshore services provider Sapura Energy has landed several new contracts worth a total of RM2.7bn ($612m) in its drilling and engineering and construction (E&C) business units for projects in the Asia Pacific and Atlantic, of which around $40m is contributed by a joint venture company.
Sapura Drilling won three new long-term contracts from Thailand’s PTTEP for its offshore tender-assist drilling rigs, Sapura T-10, Sapura T-11, and Sapura T-12. The new contracts will commence in the third quarter of 2022. In addition, the drilling business also secured an award for a new drilling campaign offshore Malaysia.
“The segment is expected to increase its asset utilisation rate, from the current eight rigs in operations, to eleven rigs by the end of fiscal year 2023,” Sapura Energy said in a Bursa Malaysia filing.
Meanwhile, Sapura Energy Do Brasil and consortium partner, Sapura Navegacao Maritima, have been awarded an engineering, procurement, construction and installation (EPCI) subsea umbilicals, risers and flowlines (SURF) contract for Enauta’s Atlanta full field development in the Santos Basin offshore Brazil.
The contract includes the supply of a pipelay support vessel, installation of new subsea manifolds, subsea pumps, flexibles, jumpers and umbilicals for three new wells, disconnecting the existing early production system, and re-routing existing flexibles and umbilicals to the FPSO Atlanta. The contract has commenced in the first quarter of 2022 and will last for 33 months, with first oil expected in 2024.
Furthermore, Sapura Offshore has been awarded a transportation and installation contract by Hess in Malaysia. The contract includes a 51 km pipeline, three wellhead platforms, two flexible pipelines, and subsea facilities in the North Malay Basin development.
“These wins are a testament to Sapura Energy’s Reset Plan; which includes a shift in our bid strategy to focus on areas where the group is highly competitive. The awards also signal confidence from the group’s new and existing clients that Sapura Energy can execute and create value for their businesses safely and profitably,” the company said in a statement.
