In a statement released today, the group said it signed a memorandum of cooperation with the government to help contribute to the growth of local human capital via a strategic partnership.

Group CEO Anuar Taib emphasised that the partnership’s goal is to reduce dependency on foreign labour while maintaining competitive compensation for the local workforce.

“We are willing to extend our TVET initiative beyond our current training centre in the Lumut fabrication yard.

“As one of the biggest employers in the oil and gas services sector, we are committed to provide training and work opportunities for Malaysian skilled and semi-skilled workers. This commitment continues despite our financial constraints and operating challenges,” he said.

With the company’s initiative to positively impact around 1,100 students, Sapura Energy plans to invest RM1.4 million over the next three years to enhance its TVET programme, with the goal of nurturing the ongoing growth of domestic oil and gas industry talent, said Anuar.

Since the introduction of its TVET initiative in 2019, the company has successfully trained around 320 students at the Sapura Fabrication Training Centre in Lumut, equipping them with crucial industry knowledge and skills.

Additionally, the company has employed over 3,000 Malaysians as crew members and craftsmen across its fabrication yards, vessels, and drilling rigs, both domestically and globally, added Anuar.

Sapura Energy’s share price was unchanged at 3.5 sen at market close today, giving the company a market capitalisation of RM489.36 million.