Petrobras gives $1.8 billion worth of contracts for six Sapura vessels

Malaysia’s Sapura Energy has secured $1.8 billion worth of contracts with Brazilian state-owned oil and gas giant Petrobras for six multi-purpose pipe-laying support vessels (PLSVs).

Sapura Energy’s joint venture entities Seabras Sapura Holding and Seabras Sapura Participacoes have been awarded the contracts as part of a competitive tender process for Petrobras.

The scope of work includes the provision of subsea engineering, installation and other services by using the PLSVs in Brazilian waters.

The vessels are set to perform all operations required for the installation of flexible pipes, electric-hydraulic umbilical and power cables, new or used, such as loading, unloading, laying, connection between spans, vertical connection (first and second end) on submarine equipment, installation of submarine equipment and hydrostatic test, in a maximum water depth of 3,000 meters.

The contracts were offered to joint venture companies Seagems Solutions, Sapura Diamante, Sapura Topazio, Sapura Jade, Sapura Onix and Sapura Rubi in which Sapura Energy holds 50% equity interests through its subsidiary Sapura Offshore.

The contracts are for three-year terms, commencing on different mobilization dates, with the longest-dated contract going through 2028.

The Malaysian company noted that the contracts are expected to contribute positively to its earnings for the financial year ending January 31, 2025, and the subsequent years.

This batch of contracts comes shortly after Sapura Energy announced it had been appointed for the delivery of underwater services for the Petronas group of companies and petroleum arrangement contractors.

Namely, last month, Sapura Subsea Services was awarded a contract for the provision of Pan Malaysia underwater services for Sarawak Shell and Sabah Shell Petroleum Company, as well as for PTTEP Sabah Oil Limited for Package B1 – Sabah (Deepwater) and PTTEP Sarawak Oil Limited for Package C1 – Sarawak.