Sapura Energy Awards E&C Contracts

Source: www.gulfoilandgas.com 7/21/2021, Location: Asia

Sapura Energy Berhad is pleased to announce that its wholly-owned subsidiaries in Engineering and Construction (E&C), Operations and Maintenance (O&M) and Drilling have been awarded contracts/contract extensions with a combined value of approximately RM1.2 billion.

Details of each of these contracts/contract extensions (collectively referred to as “Contracts”) are as summarised below:

Engineering & Construction:

Malaysia
AWARD OF CONTRACT FOR PROVISION OF TRANSPORTATION AND INSTALLATION OF PEMANIS WELLHEAD PLATFORM TOPSIDE FROM PTTEP SARAWAK OIL LIMITED.

Sapura Offshore Sdn. Bhd. has been awarded with a contract for provision of Transportation and Installation of Pemanis Wellhead Platform Topside under the Pan Malaysia Transportation and Installation of Offshore Facilities 2021 Campaign by PTTEP Sarawak Oil Limited.

The scope of work includes transportation and installation, engineering, survey, interfacing, topside installation and handover, removal of temporary structures and other optional works as specified in the contract. The contract effective date is 2 February 2021 and the work duration is for eight (8) months.

AWARD OF CONTRACT FOR REPLACEMENT OF 10” SELIGI-AC TO SELIGI-B GAS-LIFT SUBSEA PIPELINE AND RISERS INCLUDING TRANSPORTATION AND INSTALLATION SERVICES FROM ENQUEST PETROLEUM PRODUCTION MALAYSIA LTD.

Sapura Offshore Sdn. Bhd. has been awarded with a contract for replacement of 10” Seligi-AC to Seligi-B Gas-Lift Subsea Pipeline and Risers including Transportation and Installation Services under the Pan Malaysia Transportation and Installation of Offshore Facilities by EnQuest Petroleum Production Malaysia Ltd.

The contract scope of work includes engineering, transportation, supply of miscellaneous materials, certain prefabrication scopes, installation (including installation of risers, riser clamps, riser guards, subsea tie-ins, etc.) and pre-commissioning of the pipelines and other optional works as specified in the contract. The work duration is for five (5) months and are expected to be completed by Q4 calendar year 2021.
Operations & Maintenance:

Malaysia
AWARD OF CONTRACT FOR THE PROVISION OF MAINTENANCE, CONSTRUCTION AND MODIFICATION FOR PM8 EXTENSION PRODUCTION SHARING CONTRACT ("PM8E") FROM ENQUEST PETROLEUM PRODUCTION MALAYSIA LTD.

Sapura Fabrication Sdn. Bhd. has received an award for the provision of Maintenance, Construction and Modification for PM8 Extension Production Sharing Contract (“PM8E”), consisting of the PM8 and Seligi fields from EnQuest Petroleum Production Malaysia Ltd (“EnQuest”). The award is a farm-in arrangement with a contract entered into with ExxonMobil Exploration and Production Malaysia Inc.

The contract scope of work comprises project management, fabrication, offshore maintenance, construction and modification work including tools, equipment, material and consumables. The contract is effective from 14 March 2021 for a duration of one (1) year. During this period, EnQuest may issue work orders on call-off basis for actual work execution.

AWARD OF CONTRACT FOR THE PROVISION OF TOPSIDE MAJOR MAINTENANCE SERVICES FROM SARAWAK SHELL BERHAD AND SABAH SHELL PETROLEUM COMPANY LIMITED.

Sapura Fabrication Sdn. Bhd. has received an award for the provision of Topside Major Maintenance Services from Sarawak Shell Berhad (“SSB”) and Sabah Shell Petroleum Company Limited (“SSPC”).

The contract scope of work comprises Topside Major Maintenance works, specifically for Package B for various projects located Offshore Sabah and Sarawak. The contract is effective from 29 April 2021 until 19 August 2023. During this period, SSB and SSPC may issue work orders on call-off basis for actual work execution.

Drilling:

Malaysia
AWARD OF CONTRACT BY PETRONAS CARIGALI SDN BHD FOR THE PROVISION OF TENDER-ASSIST DRILLING RIG(S) FOR DRILLING ACTIVITIES OFFSHORE MALAYSIA.

Sapura Drilling Asia Sdn. Bhd. has been awarded a contract by PETRONAS Carigali Sdn. Bhd. for the provision of tender assist drilling rig(s) for a duration of two (2) years, commencing 26 April 2021 to 25 April 2023. The contract provides for an option of two (2) years’ extension and is based on call-out of any semi-submersible tender-assist drilling rigs or tender barges, subject to rig availability and suitability with client’s requirements.

AWARD OF INTEGRATED RIG, DRILLING AND COMPLETION SERVICES CONTRACT BY PETRONAS CARIGALI SDN. BHD. FOR SIX (6) WELLS OFFSHORE MALAYSIA.

Sapura Drilling Asia Sdn. Bhd. has been awarded an Integrated Rig, Drilling and Completion Services contract by PETRONAS Carigali Sdn. Bhd. for six (6) wells offshore Malaysia. The contract will be executed by Sapura Esperanza semi-submersible tender-assist drilling rig commencing Q3 calendar year 2021.

Thailand
AWARD OF CONTRACT BY PTTEP GROUP OF COMPANY FOR THE PROVISION OF OFFSHORE DRILLING RIG IN GULF OF THAILAND.

Sapura Drilling Asia Limited has been awarded a contract by PTTEP Energy Development Company Limited for the provision of tender assist drilling rig Sapura T-17 for a duration of three (3) years, commencing between 15 October 2021 to 15 November 2021. The contract provides for optional extensions for up to twelve (12) months.

In addition, Sapura Drilling Asia Limited also received notifications of contract extensions from PTT Exploration and Production Public Company Limited and PTTEP International Limited for its tender assist drilling rig Sapura T-18. The extension is for additional four (4) months from 27 June 2021 to 31 October 2021.

FINANCIAL EFFECTS
The Contracts announced herein will have no effect on the issued capital of the Company and is expected to contribute positively towards the earnings of Sapura Energy and its group of companies (“the Group”) for the relevant financial periods within the duration of the Contracts.

RISK FACTORS
Risk factors affecting the Contract including execution risks such as availability of skilled manpower and materials, changes in pricing, weather conditions and/or political, economic, operational and commercial impacts of COVID-19 and regulatory conditions. Notwithstanding, the Group has established a successful track record undertaking similar projects.

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS
None of the Directors and/or major shareholders of the Company and/or persons connected with them have any direct or indirect interest in the award of the Contracts herein.

DIRECTORS’ STATEMENT
The Board is of the opinion that the acceptance of the Contracts is in the best interest of the Company.


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