KUALA LUMPUR: Sapura Energy Bhd is confident that all its divisions – engineering and construction (E&C), drilling, as well as exploration and production (E&P) – will turn profitable within 12 months, driven by higher utilisation of its assets.

President and group chief executive officer Tan Sri Shahril Shamsuddin said the group’s earnings recovery would be seen from its E&C business securing more contracts and an improving rig utilisation rate at its drilling division to about 70% in 12 months from 50% currently.

“You will get very encouraging results in 12 months from now. Currently, we are still under-utilised. We need to push for utilisation in rig drilling and E&C.

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