Vantris Energy, formerly known as Sapura Energy, has successfully received two work orders from Petronas Carigali and two PTTEP subsidiaries for marine transportation and installation services in Malaysia.
Contract Details and Project Timeline
The company has received the contracts through VTEB Offshore, which previously operated as Sapura Offshore. Petronas has awarded the first work order to this company under the existing contract for marine transportation and installation services.
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Work on these projects will commence in the third quarter of 2026 and is expected to be completed by the end of the fourth quarter of 2027. The second contract awarded to Vantris Energy by PTTEP will also follow the same timeline for commencement and completion.
Total Contract Value and Economic Implications
According to Vantris, the total value of these two work orders is approximately 1.8 billion Malaysian Ringgit (RM1.8bn), equivalent to $440 million. These contracts reflect the attention of major oil and gas companies to Vantris's capabilities in providing marine services and installation facilities.
Muhammad Zamri Jusoh, CEO of Vantris Energy, has emphasized that the current priority is to convert these successes into strong project performance, generate healthy cash flow, and establish a solid foundation for sustainable growth.
These contracts are significant not only for Vantris Energy but also for the oil and gas industry in Malaysia. These projects can help improve the economic position and job creation in the region and also signify new movements in the country's marine services sector.
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