Latest news with #SapuraEnergy
The Sun
4 days ago
- Business
- The Sun
Sapura Energy secures contracts worth more than RM500m in Thailand
PETALING JAYA: Sapura Energy Bhd has secured two new contracts from its long-standing clients in Thailand, with a combined value exceeding RM500 million. The contracts were awarded to Sapura Energy (Thailand) Ltd, its wholly owned subsidiary, and involve an offshore installation and removal campaign, as well as subsea inspection, repair, and maintenance (IRM) services. The installation and removal contract was awarded by Chevron Thailand Exploration and Production Ltd and Chevron Offshore (Thailand) Ltd. The project is expected to be completed by the end of 2026. Sapura Energy's engineering and construction team will lead the offshore works. The group has built a strong track record in Thailand, having delivered its first decommissioning project – a rig-to-reef campaign – in 2020. Since then, the team has consistently delivered successful outcomes, including achieving 1.5 million man-hours without a single lost-time injury in a recent pipeline removal campaign. It also became the first company in Asia to implement the reverse S-lay method in pipeline decommissioning. Separately, Sapura Energy was awarded service orders for subsea IRM works by PTT Exploration and Production Public Co Ltd. The contract covers saturation diving operations at facilities within the G1/61 and G2/61 projects. These operations will be carried out by Sapura Energy's operations and maintenance division, utilising its dedicated subsea construction vessel, Sapura Constructor. The vessel is equipped with accommodation for 120 personnel and supports up to 15 divers. Subsea IRM work commenced in the second quarter of 2025. Sapura Energy is also delivering similar IRM services for PTT Exploration in Malaysia. 'These awards build upon Sapura Energy's long-standing partnership with clients in Thailand, given the group's proven track record for similar offshore campaigns in the Kingdom,' said Sapura Energy Group CEO Muhammad Zamri Jusoh. 'It also demonstrates our strategy of bidding for projects that are aligned to the group's risk appetite, core capabilities, and vessel deployment efficiency,' he added.
New Straits Times
5 days ago
- Business
- New Straits Times
Sapura Energy bags over RM500mil contracts in Thailand
KUALA LUMPUR: Sapura Energy Bhd's wholly-owned Sapura Energy (Thailand) Ltd (SETH) has secured a series of contracts in Thailand worth over RM500 million. Sapura Energy, in a filing with Bursa Malaysia today, said the new contracts include a work order from Chevron and three service orders from PTT Exploration and Production Public Co Ltd (PTTEP) and its related entity. Sapura Energy said the work order from Chevron Thailand Exploration and Production Ltd and Chevron Offshore (Thailand) Ltd involves offshore wellhead platform and pipeline transportation, installation and removal works for its 2026 campaign. The project commenced in the third quarter of 2025 and is scheduled for completion by the fourth quarter of 2026. Meanwhile, the three service orders from PTTEP and PTTEP Energy Development Co Ltd are for the provision of saturation diving services for subsea inspection, repair and maintenance works at the Bongkot B15, G1/61 and G2/61 fields respectively. The contracts took effect in the second quarter of 2025 and will run for five months. Sapura Energy said the contracts are expected to contribute to its earnings for the financial year ending Jan 31, 2026 onwards. Chief executive officer Muhammad Zamri Jusoh said the contract wins reinforce the company's long-standing relationship with clients in Thailand, backed by its strong track record in executing similar offshore projects in the country. "It also demonstrates our strategy of bidding for projects that are aligned to the group's risk appetite, core capabilities, and vessel deployment efficiency," he added.
The Star
5 days ago
- Business
- The Star
Sapura Energy's Thailand unit secures RM500mil in contracts
KUALA LUMPUR: Sapura Energy Bhd 's wholly-owned subsidiary Sapura Energy (Thailand) Ltd has received a work order and service orders with a combined value of RM500mil in Thailand, it said in a stock exchange filing today. The company received the work order from Chevron Thailand Exploration and Production Ltd and Chevron Offshore (Thailand) Ltd, and the service orders from PTT Exploration and Production Public Company Ltd and PTTEP Energy Development Company Ltd. It said the workd order commenced in 3Q25 with completion date scheduled for 4Q26, while the service orders commenced in 2Q25 for a period of five months. "The work order and service orders are expected to contribute positively to the earnings for the financial years ending 31 January 2026 onwards until the expiry of the work order and service orders," said Sapura Energy.
The Sun
01-07-2025
- Business
- The Sun
Sapura Energy's regularisation plan to exit P17 status receives Bursa Malaysia approval
PETALING JAYA: Sapura Energy Bhd announced that Bursa Malaysia Securities has, through a letter dated June 30, 2025, approved the company's proposed regularisation plan (PRP). This marks a significant milestone in Sapura Energy's strategic efforts to restructure its debt, strengthen its financial position and exit its status as a company classified under Practice Note 17 (PN17) of the Main Market Listing Requirements. The approved PRP includes a comprehensive suite of measures comprising a capital reconstruction, debt restructuring, fundraising initiative and the necessary regulatory exemptions. These initiatives are designed to address accumulated losses and reduce total borrowings to support Sapura Energy's ongoing business turnaround and set the foundation for future growth. The proposed funding is earmarked for the settlement of outstanding payments to vendors in the Malaysian oil and gas ecosystem. 'We wish to extend our gratitude to Bursa Securities for their approval,' said Sapura Energy group CEO Muhammad Zamri Jusoh. 'This not only validates our regularisation strategy but also paves the way for us to emerge from PN17 stronger and more resilient. We remain committed to executing the regularisation plan responsibly, delivering value to our stakeholders and restoring market confidence in our business.' A general meeting of shareholders will be convened to approve the PRP, after which Sapura Energy will implement the approved measures and achieve full compliance with Bursa Securities' listing requirements. With the restructuring effective date targeted for August 2025 or latest by the longstop date of March 11, 2026, the group is set to conclude one of the most complex restructuring exercises in the country's history.
Malay Mail
01-07-2025
- Business
- Malay Mail
Bursa Malaysia stays marginally higher at midday
KUALA LUMPUR, July 1 — Bursa Malaysia stayed marginally higher at midday, driven by persistent buying activities in selected heavyweights, particularly in the utilities and construction counters, amid mixed sentiment among regional peers. At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.65 of-a-point to 1,533.61 from Monday's close of 1,532.96. The benchmark index had opened 1.03 points higher at 1,533.99. The broader market was positive with 394 gainers outnumbering 361 decliners, while 464 counters were unchanged, 1,155 untraded and 13 suspended. Turnover stood at 1.05 billion units worth RM851.71 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said traders are optimistic that the United States will be able to strike trade deals with its partners once its 90-day tariff reprieve ends next week, noting that Wall Street ended broadly higher overnight. 'Back home, the FBM KLCI closed higher at above the 1,530 mark, possibly due to the return of foreign funds,' he said in a note, adding that he expects the index to trend within the 1,530-1,540 range today. Among the heavyweights, Tenaga Nasional rose 24 sen to RM14.62, while Maybank slid 1.0 sen to RM9.69, CIMB and Public Bank both dropped 4.0 sen to RM4.27 and RM6.75, respectively, and IHH Healthcare shed 3.0 sen to RM6.79. As for the most active stocks, Sapura Energy gained half-a-sen to 4.0 sen, MYEG added 1.0 sen to 96 sen, Pharmaniaga expanded 2.5 sen to 16 sen and Gamuda advanced 16 sen to RM4.95, while Tanco reduced 2.0 sen to 89.5 sen. On the index board, the FBM Emas Index climbed 15.92 points to 11,463.69, the FBMT 100 Index garnered 13.71 points to 11,243.47, and the FBM Emas Shariah Index increased 47.45 points to 11,485.69. The FBM 70 Index advanced 59.31 points to 16,458.92, while the FBM ACE Index went down 10.43 points to 4,459.50. By sector, the Financial Services Index fell 59.09 points to 17,591.49 and the Industrial Products and Services Index edged down 0.49 of-a-point to 153.34, while the Plantation Index bagged 10.78 points to 7,360.98, and the Energy Index added 3.45 points to 738.73. — Bernama
