Malaysia’s Sapura Energy has won a long-term contract from national upstream company Petronas Carigali.
Sapura confirmed the award of a contract for the provision of Pan Malaysia offshore maintenance, construction, modification, and hook-up and commissioning services, dubbed Package C2 (Sarawak asset oil).
Package C2 incorporates the engineering, procurement, fabrication, installation and commissioning, and project management services, for greenfield projects.
The work scope also includes manpower, tools, equipment, materials, consumables and other related services necessary for all work related to Petronas Carigali’s brownfield assets.
Risk factors affecting the contract include changes in the economic and regulatory environment, and operational risks such as completion risk and skilled resources. Sapura said it would take “appropriate measures” to minimise and mitigate such risks.
Wholly owned subsidiary Sapura Fabrication won the five-year call-out contract, which was awarded in the third quarter and has agreed unit rates.
The parent said this award is expected to contribute positively to the earnings of Sapura Energy Group for the financial year ending 31 January 2025 and subsequent years.
Source: By Amanda Battersby from upstreamonline.com