Sapura Energy Brazil Subsidiary Secures Contract Extension Worth RM580 Million

Sapura Energy Berhad has announces that Sapura Navegação Marítima S.A., a subsidiary of Seabras Sapura Participações S.A, a joint venture company of its wholly owned subsidiary, Sapura Offshore Sdn Bhd and Seabras Serviços De Petroleo S.A been awarded with an extension of contract with a value of USD130 million approximately RM580 million by Petrobas

The contract is for the charter of pipe laying support vessel “Sapura Esmeralda (PLSV) with the tenure of the extension to be 2 years commencing on 2 August 2022. Scope of work includes the provision of services and charter of installation and recovery of flexible pipes, by utilizing the PLSV in the Brazilian waters.

The PLSVs will perform all operations required for the installation of flexible pipes, electric-hydraulic umbilical and power cables, new or used, such as loading, unloading, laying, the 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 2500 meters.

The Contract will have no effect on the issued capital of the Company and is expected to contribute positively towards the earnings of Sapura Energy and its subsidiaries for the relevant financial periods within the duration of the contracts.

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