The contracts were secured by the company’s drilling and engineering and construction business segments through its wholly-owned subsidiaries and joint ventures.

“These wins are a testament to Sapura Energy’s Reset Plan, which includes a shift in its bid strategy to focus on areas where the group is highly competitive. The awards also signal confidence from the group’s new and existing clients that Sapura Energy can execute and create value for their businesses safely and profitably,” the company said in a statement.

Additionally, the company announced that its drilling business segment – Sapura Drilling Asia Ltd, is expected to increase its asset utilisation rate from eight rigs to 11 rigs by the end of fiscal year 2023 (FY2023).

The company’s drilling business arm was awarded three new long-term contracts for its offshore tender-assist drilling rigs from PTTEP Energy Development Company Limited (PTTEP). The new contracts from PTTEP are expected to start in the third quarter.

Furthermore, the company also managed to obtain an award for a new drilling campaign, offshore Malaysia.