The offshore transportation and installation services work is for Angola Northern Gas Complex (NGC) project.
Under the terms of the contract, Sapura Energy will provide engineering services, transportation & installation, and other services for the Quiluma and Maboqueiro (Q&M) platform of the Angola NGC project.
Sapura Energy’s subsidiaries Sapura Offshore, Sapura Energy DMCC and Sapura Energy Engineering & Construction signed the contract.
The company plans to complete the work by the fourth quarter of financial year 2026.
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The Q&M project features two offshore wellhead platforms, an onshore gas processing facility, and a connection to the Angola LNG plant for the selling of condensates and gas via LNG ships.
Project execution activities started in 2022 and production is expected to begin in 2026.
Separately, Sapura Energy reported RM1.14bn in revenue during its second quarter of financial year 2024.
EBITDA during the period was RM209m and current order book stood at RM6.3bn.
Commenting on the results, Sapura Energy group CEO Datuk Mohd Anuar Taib said: “We are actively repositioning ourselves geographically to seize opportunities across all our business segments, bidding right and pursuing major projects in Africa, the Mediterranean, the Atlantic, and the Asia Pacific region.
“The trusted partnerships we have built with clients have helped us to navigate limited liquidity issues, enabling us to win more work.”