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BUSINESS

Sapura Energy secures RM580 mln contract extension in Brazil

02/08/2022 08:47 PM

KUALA LUMPUR, Aug 2 (Bernama) -- Sapura Energy Bhd’s joint-venture company under its engineering and construction segment (E&C) Sapura Navegacao Marítima SA has been awarded an extension of a charter and service contract by Petroleo Brasileiro SA in Brazil.

In a statement today, Sapura Energy said the contract was awarded to Sapura Navegacao Marítima involving a two-year contract extension for its pipe laying support vessel (PLSV) Sapura Esmeralda valued at RM580 million.

Sapura Navegacao Marítima is a wholly owned subsidiary of Seabras Sapura Participacoes SA, a joint- venture company between Sapura Offshore Sdn Bhd and Seabras Servicos De Petroleo SA. 

“The contract scope of work includes the provision of services and charter of installation and recovery of flexible pipes in the Brazilian waters in a maximum water depth of 2,500 metres. The two-year contract duration for Sapura Esmeralda commences immediately on Aug 2, 2022,” said Sapura Energy.

The oil and gas outfit said the award strengthened its presence in Brazil, signifying its ability to create strong partnerships and deliver value to clients.

Its E&C segment operates six PLSVs in Brazil, with a utilisation rate of about 95 per cent. 

-- BERNAMA


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