KUALA LUMPUR: Sapura Energy Bhd's unit Sapura Fabrication Sdn Bhd has bagged a five-year call-out contract from Petronas Carigali Sdn Bhd.
Sapura Fabrication will provide Pan Malaysia offshore maintenance, construction, modification and hook-up & commissioning (HUC) services for Package C2 (Sarawak Asset (SKA) – Oil).
The scope of work is for the provision of manpower, tools and other related services necessary for all work related to HUC brownfield and greenfield.
This includes project management services, and installation and commissioning and provision of third-party services.
The contract is expected to contribute positively to the earnings of Sapura Energy group for the financial year ending Jan 31, 2025 and the subsequent years.
Sapura Energy's share price was down 14 per cent to three cents today.
This gives it a market capitalisation of RM551.3 million.