Sapura energy berhad subsidiaries

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Sapura energy berhad subsidiaries

On the back of this turnover, the Group recorded a loss-after-tax of RM4. As a prudent measure, the Group has decided to recognise a RM3. The impairments were necessary due to the prolonged recovery expected in the oil and gas industry.

Sapura Energy

In addition, a provision of RM million was recognised in anticipation of extended delays towards completion of current projects arising from the COVID global pandemic and taking into consideration current market conditions. Revenue gains were recorded on the back of increased project execution in its Engineering and Construction segment. Segment revenue for Engineering and Construction was RM5.

The Group remains cautiously optimistic in its outlook for FY, as the oil and gas industry braces for the full impact of COVID and low oil prices.

The Board of Directors anticipates the challenging environment to remain in the short to medium term. The Group already raised RM7. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future.

Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Date: Sapura Energy Berhad, a leading global integrated oil and gas services and solutions provider, has announced two major project wins in South America, as well as a drilling contract win in the Ivory Coast. Sapura Energy has aimed to capture opportunities still available in addressable markets for oil and gas services, deepening its presence in the fastest growing regions like South America, Africa and Middle East.

The contract entails the transportation and installation of the Amoca Platform and the pipeline and subsea cable interconnecting the Amoca and Mizton platforms with the Floating Production Storage and Offloading FPSO unit. The works are expected to be completed by Q4 FY The scope of work comprises the provision of services and charter for the installation and recovery of flexible pipes, by utilising Sapura Esmeralda in Brazilian waters. The existing contract is expected to complete by April and the twelve 12 months extension will commence immediately after the duration of the original contract of Sapura Esmeralda ends.

The contract scope comprises the provision of semi tender-assist drilling rig services for three wells, offshore Ivory Coast, commencing in Q1 FY It includes the option of one well extension. With this contract, Sapura Energy will have two of its rigs operating in the African continent. Its semi-submersible tender assisted drilling rig Sapura Jaya is currently working offshore Angola.

This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Date: The Group posted a profit-after-tax and minority interests of RM The Group adapted to new norms by leveraging on capabilities and strategic assets to capture opportunities in addressable markets and segments, while executing a comprehensive cost optimisation plan to ensure lean and efficient operations.

Other wins include a twelve-month extension on the operation of its pipe-laying support vessel Sapura Esmeralda in offshore Brazil, from Petrobras; and a contract from Foxtrot International LDC for the provision of its tender assist drilling rig services in the Ivory Coast. Sapura Energy continues to build top-line growth through robust bidding activities in addressable markets and segments for hydrocarbons and renewable energy.

As natural depletion in hydrocarbon resources compel oil and gas producers to increase capex investment, the total market value of opportunities in regions with Sapura Energy presence is expected to accumulate to USD1 trillion in the next five years.

Prospects that Sapura Energy can immediately address within the next 12 to 24 months are valued at about USD billion. As part of its sustainable growth strategy, the Group has embraced the shift to renewable and clean energy, utilising its existing assets to diversify into renewable energy projects.

sapura energy berhad subsidiaries

While Sapura Energy anticipates the environment in the oil and gas industry to remain challenging in the short to medium term, the Group is optimistic of its ability to navigate the current uncertainties.

The Group will continue to focus on safe and efficient operations across its business segments, deliver its cost optimisation targets and improve financial strength; and be well-positioned to capture opportunities as the market recovers.

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This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements.

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Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future.

Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Date: Sapura Energy Mexicana S. The contract scope of work comprises the transportation and installation of Amoca Platform and the pipeline and subsea cable scope of work interconnecting the Amoca and Mizton platforms and Floating Production Storage and Offloading FPSO.

The contract scope of work comprises the provision of services and charter for installation and recovery of flexible pipes, by utilizing Sapura Esmeralda in the Brazilian waters. Sapura Esmeralda shall perform all operations required for the installation of the flexible pipes, electric-hydraulic umbilical and power cables, new or used, such as loading, unloading, laying, connection between spans, vertical connection first and second end on submarine equipment, installation of submarine equipment and hydrostatic test, in a maximum water depth of meters.

The existing contract is expected to complete by April and the twelve 12 months extension will commence immediately after the duration of the original contract of Sapura Esmeralda ends. The contract scope comprises the provision of semi tender-assist drilling rig services for 3 wells commencing in Q1 FY for a period of 9 months offshore Ivory Coast plus one option of one well extension.

Notwithstanding, the Group has established a successful track record undertaking similar projects. The Board is of the opinion that the acceptance of the Contracts is in the best interest of the Company. The works are expected to be completed by Q4 FY This announcement is dated 17 September The company was renamed as Sapura Energy Berhad on March 24, Petrobras in Brazil [7]. Its offshore support services ranges from topside maintenance, subsea services, brownfield rejuvenation, and geosurvey and geotechnicalto the provision of offshore support vessels [9].

The company has over four decades of experience in tender-assist drilling operations and drills more than wells in a year [10]. Sapura Energy is also known for its exploration and production of oil and gas [9]. Sapura Energy Berhad is a public limited liability company. As ofthe number of shareholders totals to 37, with Sapura Technology Sdn Bhd retaining From Wikipedia, the free encyclopedia.

sapura energy berhad subsidiaries

Annual Report Retrieved 19 August Featured Employer: Sapura Energy Berhad. Retrieved 30 August SapuraKencana Petroleum: Oil and Gas.

Sapura Energy - The Making of B15 Project

Retrieved 09 August Borneo Post. Retrieved on 28 March Sapura Energy Bhd. Sapura Energy Springs a Surprise. The Star Online.

sapura energy berhad subsidiaries

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