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Saudi Aramco picks Sapura Energy as LTA contractor Read more at https://www.thestar.com.my/business/

Author: AimanWanabe   |   Latest post: Mon, 7 Jan 2019, 08:11 PM

 

Saudi Aramco picks Sapura Energy as LTA contractor Read more at https://www.thestar.com.my/business/business-news/2018/11/28/saudi-aramco-picks-sapura

Author: AimanWanabe   |  Publish date: Mon, 7 Jan 2019, 08:11 PM


KUALA LUMPUR:  Saudi Aramco has picked Sapura Energy Bhd's two units for the oil major's long-term agreement (LTA) programme after their successful qualification as a contractor.

Sapura Energy, an integrated oil and gas services and solutions provider, said on Wednesday Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia were appointed for the programme.
 
“The LTA programme covers engineering, procurement, fabrication, transportation and installation (EPCI) contracts to support Saudi Aramco’s offshore projects,” it said. 

Sapura Energy said this marked a significant milestone in its growth strategy as it joined the major league of international service providers as an LTA contractor.

 
Sapura Energy will participate in bids for EPCI opportunities by Saudi Aramco. The LTA programme will be for a period of six years with options for extension. 

Sapura Energy  president and group CEO  Tan Sri Shahril Shamsuddin said: “We are honoured to be selected by Saudi Aramco for its LTA programme. This win is a major milestone for Sapura Energy in line with our strategy to grow the business and deepen our presence in the Middle East.” 

He was the signatory for the company at the signing event held in Dammam, Saudi Arabia on Monday. 

He said Sapura Energy qualified as an LTA contactor after successfully undergoing an extensive assessment and meeting rigorous operational and safety requirements. 

A key component of the LTA is Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) programme which aims to drive local value creation with the LTA contractors. 

Sapura Energy is taking proactive steps to fulfil its IKTVA commitments by partnering local businesses and developing local capabilities by leveraging on its in-house technical and project management expertise as well as its world-class fleet of offshore construction assets.

 

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