Sapura Energy Berhad (Sapura Energy) marked a significant milestone in its growth strategy when its wholly-owned subsidiaries, Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia, were selected to join Saudi Aramco’s Long-Term Agreement (LTA) programme.
The LTA programme covers engineering, procurement, fabrication, transportation and installation (EPCI) contracts to support Saudi Aramco’s offshore projects.
Joining the major league of international service providers as an LTA contractor, Sapura Energy will participate in bids for EPCI opportunities by Saudi Aramco. The LTA programme will be for a period of six years with options for extension.
“We are honoured to be selected by Saudi Aramco for its LTA programme. This win is a major milestone for Sapura Energy in line with our strategy to grow the business and deepen our presence in the Middle East,” said Tan Sri Shahril Shamsuddin, President and Group Chief Executive Officer, Sapura Energy, who was the signatory for the company at the signing event held in Dammam, Saudi Arabia on Monday, 26th November 2018.
Sapura Energy qualified as an LTA contactor after successfully undergoing an extensive assessment and meeting rigorous operational and safety requirements.
A key component of the LTA is Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) programme which aims to drive local value creation with the LTA contractors.
Sapura Energy is taking proactive steps to fulfil its IKTVA commitments by partnering local businesses and developing local capabilities by leveraging on its in-house technical and project management expertise as well as its world-class fleet of offshore construction assets.