Sapura Vitality Berhad subsidiary Sapura Drilling stated it has secured a number of contracts with a mixed worth of roughly $716.7 million (MYR 3.2 billion), together with an non-compulsory interval.
Sapura Drilling received two contracts from PTTEP Vitality Improvement Restricted for the availability of its tender help drilling rigs, Sapura T-17 and Sapura T-18.
Each initiatives will start within the second quarter of 2026, with a five-year agency interval and an non-compulsory extension of three years, the Malaysian firm stated in a information launch.
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The corporate has additionally secured a contract extension from Chevron subsidiary Cabinda Gulf Oil Firm Restricted (CABGOC) for the tender help drilling rig Sapura Jaya. The extension, which began in November 2024, will proceed till November 2025.
Additional, Sapura Drilling received a contract from ExxonMobil Exploration and Manufacturing Malaysia Inc. (EMEPMI) for companies of the Sapura Berani drilling rig. The mission, beginning within the first quarter of 2026, entails improvement drilling for a interval of 30 months.
One other contract was secured by the corporate from EnQuest Petroleum Manufacturing Malaysia Ltd for companies by the Sapura Esperanza rig for drilling actions. The contract begins within the first quarter of 2026 and covers the drilling of 4 improvement wells offshore Malaysia.
Sapura Drilling has a fleet of 5 semi-tender rigs and 6 tender barge rigs, making it the most important drilling contractor in Southeast Asia by rig rely and market share, it stated.
The signed contracts have strengthened the group’s order e-book to a complete worth of $1.95 billion (MYR 8.7 billion) whereas the order e-book held by its joint ventures stood at $1.28 million (MYR 5.7 billion), the corporate stated.
Along with the drilling contracts, Sapura Vitality’s Engineering and Building section has secured a number of key initiatives, together with a pipeline set up in Brazil and an asset elimination mission in Australia.
Sapura Vitality’s CEO for its drilling enterprise, Louay Louis Laham, stated, “Our energy lies in our individuals, our capabilities, and our partnerships. We not solely give attention to security and operational excellence but additionally on our dedication to collaboration with our purchasers. That’s how we maintained a constant observe document with high tier purchasers for greater than 50 years of existence”.
“These contract wins replicate our capacity to ship value-driven options and strengthen consumer confidence in Sapura Vitality. As we develop our order e-book, we stay dedicated to operational excellence and long-term worth creation”, stated Muhammad Zamri Jusoh, Group CEO of Sapura Vitality.
In December 2024, Sapura subsidiary Sapura Upstream Property Sdn Bhd (SUA) accomplished the sale of its 50 % fairness curiosity in SapuraOMV Upstream Sdn Bhd to TotalEnergy Holdings SAS.
SapuraOMV’s belongings embrace a 40 % operated curiosity in block SK408 and a 30 % operated curiosity in block SK310, each located offshore Sarawak, Malaysia. The Jerun fuel discipline, positioned inside the SK408 block, achieved its first fuel in July 2024, forward of schedule and inside price range. SapuraOMV additionally holds exploration licenses throughout strategic areas, together with Malaysia, Australia, New Zealand, and Mexico, in line with an earlier information launch.
“This strategic initiative underscores our dedication to Sapura Vitality’s long-term Reset and debt restructuring plan; this divestment streamlines our portfolio and allows us to give attention to our core capabilities, specifically to ship protected and modern options to the power trade,” Sapura Vitality Interim Chairman Shahin Farouque Jammal Ahmad stated.
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