Malaysia’s Sapura Energy bags $720M worth of drilling contracts

Sapura Drilling, the drilling arm of Malaysian oil & gas services provider Sapura Energy, has secured multiple contracts that have a combined value of approximately $720 million.

Sapura Drilling secured two contracts with PTTEP Energy Development Limited for the provision of its tender assist drilling (TAD) rigs Sapura T-17 and Sapura T-18. Both projects will begin in Q2 FY2026, with a five-year firm period and an optional extension of three years.

A contract extension was secured with Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron, for the TAD rig Sapura Jaya. Effective from November 2024, the extension will continue for one year, concluding in the coming November.

Furthermore, Sapura Drilling was awarded a contract from ExxonMobil Exploration and Production Malaysia Inc. (EMEPMI) for the Sapura Berani drilling rig, set to start the project that covers development drilling for a period of 30 months in Q1 FY2026.

Another contract commencing in Q1 FY2026 has been secured from EnQuest Petroleum Production Malaysia for the Sapura Esperanza rig to drill four development wells offshore Malaysia.

The combined value of the contracts, including optional period, is approximately RM 3.2 billion (around $720 million).

Besides the drilling contracts, Sapura Energy’s Engineering and Construction (E&C) segment has secured several projects, including pipeline installation in Brazil and asset removal in Australia.

The contract wins brought the group’s order book to a total value of RM 8.7 billion while the order book held by its joint ventures stands at RM 5.7 billion.

“These contract wins reflect our ability to deliver value-driven solutions and strengthen client confidence in Sapura Energy. As we grow our order book, we remain committed to operational excellence and long-term value creation,” said Muhammad Zamri Jusoh, Group CEO of Sapura Energy.