KUALA LUMPUR: Sapura Energy Bhd's joint venture company under its engineering and construction (E&C) segment has been awarded an extension of a charter and service contract by Petróleo Brasileiro S.A. (Petrobras) in Brazil.
The contract was awarded to Sapura Navegação Marítima S.A, which is a wholly-owned subsidiary of Seabras Sapura Participações S.A.
The latter in turn is a joint venture company between Sapura Offshore Sdn Bhd and Seabras Serviços De Petroleo S.A.
"The two-year contract extension, for its pipe laying support vessel (PLSV) Sapura Esmeralda, is valued at approximately RM580 million," said Sapura Energy in a statement today.
The scope of work entails the provision of services and charter of installation and recovery of flexible pipes in the Brazilian waters in a maximum water depth of 2,500 metres.
The contract commenced immediately on August 2.
"The award strengthens Sapura Energy's presence in Brazil, signifying its ability to create strong partnerships and deliver value to clients.
"Its E&C segment operates six PLSVs in Brazil, with a utilisation rate of about 95 per cent," added Sapura Energy.