Vantris Energy Berhad has secured two offshore transportation and installation (T&I) work orders from PETRONAS Carigali Sdn Bhd, with a combined contract value of approximately RM1.4 billion.
In a filing with Bursa Malaysia, the company said the work orders were awarded to its indirect wholly owned subsidiary, Sapura Offshore Sdn Bhd, under an existing contract for the provision of offshore T&I services in Malaysia.
The contracts cover offshore facilities works for PETRONAS’ Sepat Integrated Redevelopment Project and Belud South Greenfield Development Project.
Under Work Order 1, Sapura Offshore will undertake T&I works for the Sepat Integrated Redevelopment Project, with operations scheduled to commence in the first quarter of 2026 and completion expected by the third quarter of 2029. Work Order 2, relating to the Belud South Greenfield Development Project, is expected to begin in the first quarter of 2026 and be completed by the fourth quarter of 2027.
Vantris Energy said the work orders will not affect its share capital or shareholding structure, but are expected to contribute positively to the group’s earnings for the financial year ending 31 January 2027 and beyond, until the completion of the projects.
