Sapura Energy wins near RM1 bil worth of contracts

Sapura Energy Berhad (formerly known as SapuraKencana Petroleum Berhad) announced that its direct and indirect wholly-owned subsidiaries have been awarded contracts with a combined value of approximately RM905 million.

Selected contracts are as below:

Provision of Engineering, Procurement, Construction and Commissioning (“EPCC”) of Kinarut ERB WEST Compressor Upgrading Project for PETRONAS Carigali Sdn Bhd.
Provision of Minor Engineering, Procurement, Construction and Commissioning (“ePCC”) for Bokor Betty Brownfield & Rejuvenation for PETRONAS Carigali Sdn Bhd.
Provision of Engineering, Procurement, Construction, Commissioning Plus Installation (“EPCC+I”) for FFD Phase 2 Facilities, North Malay Basin by Hess Exploration and Production Malaysia B.V.
Provision of Transportation and Installation (“T&I”) Works for Bokor CPP Project by Malaysia Marine and Heavy Engineering Sdn Bhd.
Provision of Offshore/Onshore Pipeline and Terminal Works for Fifth Oil Berth Project by Mumbai Port Trust

These contracts will continue for at least two more years, with some earlier contracts expiring by end-2019 and others in 2020.

LISTING ITS EXPLORATION & PRODUCTION UNIT Reports had surfaced last month claiming that Sapura Energy was mulling the listing of its exploration and production (E&P) arm. According to the sources, the idea is being considered and if it does happen, would be an avenue for the company to monetise part of its assets. The speculation of this news has earned some chatter in the market following a rather somber first quarter listing scene on Bursa Malaysia.