Vantris Energy Berhad has secured contracts worth approximately RM830 million through its indirect wholly owned subsidiaries, strengthening its order book across both its offshore engineering and drilling businesses.
The group said the contracts comprise a transportation and installation (T&I) work order from PETRONAS Carigali Sdn Bhd (PCSB), a notice of assignment for a tender-assisted drilling rig under an existing contract with PCSB, and a new drilling services contract from Vestigo Petroleum Sdn Bhd.
The contracts were awarded to VTEB Offshore Sdn Bhd (VOSB), formerly known as Sapura Offshore Sdn Bhd, and VTEB Drilling Asia Sdn Bhd (VTEBDA), formerly Sapura Drilling Asia Sdn Bhd.
Under the engineering and construction segment, VOSB received a work order from PCSB for the transportation and installation of offshore facilities under an existing T&I contract. The project commenced in the second quarter of the group’s financial year ending Jan 31, 2027 (FY2027) and is scheduled for completion by the third quarter of FY2028.
Within its drilling segment, VTEBDA received a notice of assignment from PCSB for the deployment of the Sapura Esperanza tender-assisted drilling rig under an existing drilling services contract. The assignment is expected to commence in the third quarter of FY2027.
Separately, VTEBDA secured a new contract from Vestigo Petroleum to provide tender-assisted drilling rig services using the Sapura Jaya rig. The project is also scheduled to begin in the third quarter of FY2027.
Vantris said client approvals to disclose the contract awards were obtained on Aug 3.
The group expects the contracts to contribute positively to earnings from FY2027 onwards, with no impact on its share capital or shareholding structure.
