Brasil Business news

Sapura Power secures RM2.7bil contracts in Asia-Pacific, Atlantic area

KUALA LUMPUR: Sapura Power Bhd’s drilling and engineering and development (E&C) enterprise segments, by its wholly-owned subsidiaries and joint-venture, have secured six main contract wins within the Asia-Pacific and Atlantic area, with a mixed worth of RM2.7 billion.

In a submitting with Bursa Malaysia, it stated RM176 million from the mixed worth was contributed by its joint-venture firm.

Sapura Power stated its drilling enterprise phase continues to safe new contracts below the present market situations and the phase is anticipated to extend its asset utilisation fee, from the present eight rigs in operation, to 11 rigs by the tip of the monetary 12 months 2023.

“Sapura Drilling Asia Ltd showcased its capability to ship guarantees in Thailand when it was awarded with three new long-term contracts for its offshore tender-assist drilling rigs Sapura T-10, Sapura T-11 and Sapura T-12 from PTTEP Power Improvement Firm Ltd,” it stated.

The group stated these new contracts from PTTEP would start within the third quarter of the calendar 12 months 2022.

“Sapura Drilling additionally obtained an award for a brand new drilling marketing campaign offshore Malaysia,” it stated.

For its E&C enterprise phase, Sapura Power stated it has strengthened its presence within the Atlantic area with an engineering, procurement, development and set up (EPCI) subsea umbilicals, risers and flowlines (SURF) contract award by Enauta Energia SA to Sapura Power Do Brasil (SEDB) and its consortium companion, Sapura Navegacao Marítima SA (SNM).

It stated the EPCI SURF award is for the Atlanta’s full subject improvement within the Santos Basin, offshore Brazil.

The scope of the contract contains work on the the provision of a pipelay help vessel, set up of latest subsea manifolds, subsea pumps, flexibles, jumpers and umbilicals for 3 new wells and disconnecting the prevailing early manufacturing system.

“The contract has commenced within the first quarter of 2022 for a length of 33 months and is anticipating to realize its first oil in 2024,” it stated.

Apart from that, it stated the group’s E&C phase has been awarded a transportation and set up contract by Hess Exploration And Manufacturing Malaysia BV, by its subsidiary Sapura Offshore Sdn Bhd.

“The contract scope of labor contains transportation and set up of a 51 km pipeline, three wellhead platforms, two versatile pipelines and subsea amenities within the North Malay Basin improvement,” it stated, including that the contract commenced within the second quarter of 2022 for eight months excluding the guarantee interval. – Bernama

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