Shell reduced the scope of the contract “for cause” in March this year, alleging breaches of contract by Sapura Offshore.
Sapura Energy has also said its proposed restructuring would include a “white knight” investing 1.8 billion ringgits ($390mn) in the business.
Chevron is responsible for decommissioning dozens of platforms at the giant Erawan Block, which it will hand over to Thai national oil company PTT Exploration & Production (PTTEP) in April 2022, when its concessionary contract expires. However, delays in official government approvals leaves key decommissioning contracts stalled for now.
Malaysia’s Sapura Energy will carry out front-end engineering and design (FEED) work for the construction and installation of the wellhead platform (WHP) for the Santos-led Dorado project, in the Bedout Sub-basin, offshore Western Australia.
Petronas’ former upstream head Anuar Taib will take over the running of Malaysian upstream player and leading offshore fabricator Sapura Energy as chief executive.
Sapura Energy has won a number of contracts, including pipeline works for Qatar’s Al-Khalij field, from Total E&P Golfe.
The universal "pause" brought on by Covid-19 has been overridden by the realisation that this pandemic and its repercussions are challenges we have to deal with and adapt to if we are to survive and thrive.
Sapura Energy will drill offshore Cote d’Ivoire in the first quarter of 2022 for Foxtrot International.
A four-month long standoff over oil and gas operations in the South China Sea is intensifying between Malaysian, Chinese, and Vietnamese ships, though all three governments have managed to keep it out of the public eye, until very recently.
Abu Dhabi’s ADNOC has terminated two contracts for Petrofac’s joint venture on the Dalma gas development worth $1.65 billion.
Subsea 7 said today that it expects to receive $100million in cash dividends following the winding down of a joint venture (JV).