Sapura Energy: Units Awarded Contracts With Combined Value of MYR1.47 Billion

By Yantoultra NguiFeaturesDow Jones Newswires

KUALA LUMPUR, Malaysia--Sapura Energy Bhd. (5218.KU), Malaysia's largest oil-and-gas services firm, said Wednesday that its wholly owned direct and indirect units have been awarded contracts with a combined value of 1.47 billion ringgit ($352 million).

The contracts include transportation and installation of offshore facilities including platform, structures and pipelines and its associated works from Petronas Carigali Sdn Bhd and Sarawak Shell Bhd. One of its units had also been awarded jobs in Brazil, according to Sapura Energy's local stock exchange filing on Wednesday.

Continue Reading Below

The contracts are expected to contribute positively toward its earnings, principally for the fiscal year ending Jan. 31, 2018, Sapura Energy added.

Shares of Sapura Energy ended Wednesday 3.5% lower at MYR1.40, prior to the announcement.

Write to Yantoultra Ngui at

(END) Dow Jones Newswires

November 15, 2017 05:41 ET (10:41 GMT)