SAPNRG

0.050

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OTHERS SAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY") AWARD FOR THE EPCI PLATFORMS AND SEALINES TRANSPORTATION AND OFFSHORE INSTALLATION SERVICES FOR ANGOLA NORTHERN GAS COMPLEX ("NGC") PROJECT

SAPURA ENERGY BERHAD

Type Announcement
Subject OTHERS
Description
SAPURA ENERGY BERHAD ("SEB" OR "THE COMPANY")
AWARD FOR THE EPCI PLATFORMS AND SEALINES TRANSPORTATION AND OFFSHORE INSTALLATION SERVICES FOR ANGOLA NORTHERN GAS COMPLEX ("NGC") PROJECT

INTRODUCTION

 

Sapura Energy Berhad ("Sapura Energy" or the “Company") is pleased to announce that its wholly-owned subsidiaries, Sapura Offshore Sdn. Bhd, Sapura Energy DMCC and Sapura Energy Engineering & Construction, LDA have signed a contract for the Provision of Offshore Transportation and Installation Services Contract in Angola, from Azule Energy Angola B.V. (“The Contract”). The contract value is approximately USD300 million (Equivalent to approximately MYR 1.4billion).

 

SALIENT CONTRACT TERMS

 

The Contract scope of work comprises of engineering services, transportation & installation and related activities related to for Quiluma and Maboqueiro Platform for Angola NGC Project.

 

The work is expected to be completed by Q4 FY2026.

 

FINANCIAL EFFECTS

 

The contract will not have any effect on the share capital and shareholding structure of Sapura Energy. The Contract, however, is expected to contribute positively to the earnings for the financial year ending 31 January 2024 and subsequent years.

 

RISK FACTORS

 

The risk factors affecting The Contract includes changes in economic and regulatory environment and operational risks such as completion risk and skilled resources which the Group would take appropriate measures to minimise and mitigate such risks. 

 

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

 

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any direct or indirect interest in the award of the Contract herein.

 

DIRECTORS’ STATEMENT

 

The Board is of the opinion that the acceptance of the Contract is in the best interest of the Company.

 

This announcement is dated 27 September 2023.






Announcement Info

Company Name SAPURA ENERGY BERHAD
Stock Name SAPNRG
Date Announced 27 Sep 2023
Category General Announcement for PLC
Reference Number GA1-27092023-00094