PETALING JAYA: Sapura Energy Bhd
image: https://aseanenergy.org/wp-content/uploads/2023/10/chart.png
’s shares rose after it announced it had secured RM1.3bil worth of new jobs.The oil and gas counter, which was briefly suspended yesterday pending the announcement, gained one sen to close at 34.5 sen. It was the most actively traded counter, with 312.4 million shares changing hands.
In total, there were five new contracts worth a combined sum of about RM1.3bil that Sapura Energy had won for its engineering and construction and drilling segments.
In its filings with Bursa Malaysia, the company said the new wins included a submarine rescue service contract for the Royal Australian Navy. And marking its foray into Egypt, the group’s unit Sapura Offshore Sdn Bhd won a subcontract from Pan Marine Petroleum Services Company for the installation of six new subsea pipelines in the Gulf of Suez.
In the drilling segment, Sapura Energy’s unit, Sapura Drilling Asia Sdn Bhd, secured two contracts for the provision of drilling rigs from ExxonMobil Exploration and Production Malaysia Inc and Petronas Carigali Sdn Bhd respectively.
The list also included a contract from ENI East Sepinggan Ltd won by Sapura Offshore for the construction and installation of two offshore rigid pipelines from the Jangkrik facility to a future manifold near Merakes drilling centres.
The group said its growing orderbook, resulting from the new contract wins, was expected to increase its asset utilisation and contribute to improving its financial performance.
Read more at https://www.thestar.com.my/business/business-news/2019/04/13/sapura-energy-secures-rm13bil-jobs/#BqlTIDFyySzmJOke.99
