Sapura Energy wins RM840 mln contracts in South America, Ivory Coast

The Sapura Energy group has secured two major project wins in South America as well as a drilling contract in the Ivory Coast with a combined value of RM840 million, bringing its total wins to-date in the financial year ending Jan 31, 2021, to RM1.6 billion.

The upstream oil and gas solutions provider clinched an engineering, procurement, construction and installation contract for the Eni Mexico S de R L de CV's Amoca project, offshore Block Area 1 in Mexico, through its wholly-owned subsidiary Sapura Energy Mexicana SAPI de CV.

“The contract scope of work comprises the transportation and installation of Amoca Platform and the pipeline and subsea cable scope of work interconnecting the Amoca and Mizton platforms and floating production storage and offloading (FPSO),” the company said in a filing with Bursa Malaysia today.

It said the work was expected to be completed by the fourth quarter of financial year ending Jan 31, 2022.

Meanwhile, Sapura Energy's longstanding relationship with Brazilian national oil company, Petroleo Brasileiro SA (Petrobras), led to a 12-month extension of vessel charter and service contracts for 50 per cent-owned Sapura Navegacao Maritima SA (SNM).

It said the scope of work comprised the provision of services and charter for the installation and recovery of flexible pipes by utilising Sapura Esmeralda, a pipe-laying support vessel, in Brazilian waters.

“The existing contract is expected to complete by April 2021 and the 12-month extension will commence immediately after the duration of the original contract of Sapura Esmeralda ends,” it said.

SNM is wholly-owned by Seabras Sapura Participacoes SA, a joint venture between Sapura Offshore Sdn Bhd and a subsidiary of Seadrill Ltd.

Meanwhile Sapura Energy, one of the world's leading tender rig owners, marked its re-entry into Ivory Coast after wholly-owned subsidiary Sapura Drilling Holdings Ltd won a contract from Foxtrot International LDC to provide services via tender assist drilling rig Sapura Berani.

The company said it would provide semi tender-assist drilling rig services for three wells offshore Ivory Coast starting in the first quarter of the financial year ended Jan 31, 2022, with the inclusion of the option of one well extension.

“With this contract, Sapura Energy will have two of its rigs operating in the African continent. Its semi-submersible tender assisted drilling rig, Sapura Jaya, is currently working offshore Angola,” it said.

It noted that the Sapura Energy drilling arm provided similar services for Foxtrot International LDC’s drilling campaign in Ivory Coast from 2015 to 2016.

-- BERNAMA