Sapura Energy Berhad (“the Company” or “the Group”), today announced its unaudited full year results for the financial year ended 31 January 2020, recording a revenue of RM6.4 billion, compared to RM4.6 billion the previous financial year.

Sapura Energy Berhad announced internal austerity measures to mitigate the impact of the COVID-19 pandemic and the resulting low oil prices.

Sapura Energy Berhad (Sapura Energy) marked a significant milestone with the award of its first contract in Abu Dhabi, in partnership with Petrofac Emirates LLC, for the Dalma Gas Development Project (Offshore EPC Package – A) by Abu Dhabi National Oil Company (ADNOC). The contract was awarded through its subsidiary’s branch office in Abu Dhabi.

Sapura Energy Berhad is pleased to announce the appointment of Encik Abdul Jalil Abdul Rasheed as its Non-Independent Non-Executive Chairman, succeeding Dato’ Hamzah Bakar effective 1 February 2020. Dato’ Hamzah has had a long relationship with Sapura, going back to 4 July 2003 when he was appointed as a Board member of SapuraCrest Petroleum. On 9 December 2011, he joined the Board of Sapura Energy as Chairman.

Sapura Energy Berhad is pleased to announce the appointment of En. Abdul Jalil Abdul Rasheed, President and Group Chief Executive of Permodalan Nasional Berhad (PNB), as a Non-Independent Non-Executive Director on the company’s board effective 1 January 2020. He will succeed Datin Paduka Kartini Hj Abdul Manaf, who steps down today after serving the board since 24 April 2019. Sapura Energy is one of PNB’s key strategic companies, in which PNB and its associated funds collectively own a 40% stake.

Sapura Energy Berhad, a leading global integrated oil and gas services and solutions provider, has secured several new contracts and contract extensions for its Engineering and Construction (E&C) as well as Drilling segments. The contracts, valued at approximately RM615 million, brings the total order book year-to-date to RM15.1 billion, which will increase work volume and utilisation of assets.

For the first nine months ended 31 October 2019 (9M FY20), Sapura Energy Berhad registered a 73 per cent growth in revenue at RM5.3 billion, compared to RM3.1 billion in the previous corresponding period (9M FY19). The improved revenue enabled the Group to further trim its net losses by 33 per cent to RM326 million in the nine-month period from RM483 million previously.

Sapura Energy Berhad today announced its financial results for the period ended 31 July 2019 (Q2 FY20), registering an 87 per cent improvement in revenue at RM1.9 billion, compared to RM1.0 billion in the previous corresponding quarter (Q2 FY19). As a result, the Group narrowed its net loss to RM116.3 million during the quarter, compared with a net loss of RM199.2 million in Q2 FY19.

SapuraOMV Upstream today announced that its whollyowned subsidiary, SapuraOMV Upstream (Sarawak) Inc. and its partners, PETRONAS Carigali Sdn Bhd and Sarawak Shell Berhad have signed the full-term Upstream Gas Sales Agreement (UGSA) with Petroliam Nasional Berhad (PETRONAS) for the Gorek, Larak and Bakong fields under the first development phase of the SK408 Production Sharing Contract (PSC).

Sapura Energy Berhad (Sapura Energy) has been awarded 10 new contracts for its Engineering & Construction and Drilling segments, valued at approximately RM1 billion. The new contract wins, secured across Malaysia, Thailand, Taiwan and Australia, include Sapura Energy’s first offshore wind farm contract. In addition, Sapura Energy has been selected for a frame agreement with Petroliam Nasional Berhad (PETRONAS) for fixed offshore structure works.