Integrated oil and gas services organization Sapura Energy Bhd, which secured a RM3 billion deal from India’s Oil and Natural Gas Corp a week ago, is balanced for a turnaround to enhance its money related wellbeing and cement profit development.
Market experts said Sapura Energy to date has effectively secured a sum of RM8.5 billion worth of contracts, pushing its order book to RM18.6 billion which will stay with the company throughout the following three years.
“Sapura Energy contract wins, couple with strategies set up by the administration will push the organization to be one of the world’s best five oil and gas specialist organizations,” the analyst said.
Public Investment said the Group’s tender book stays solid, developing from US$2.5 billion in 2017 to US$9.8 billion at present, with extra prospects of US$14.3 billion for one year from now.
“Moreover, the Group’s ongoing passage to into Saudi Aramco’s long-term agreement program will draw in speculations worth US$150 billion, of which Sapura Energy will have a cut of the pie,” said Public Invest.
JF Apex Securities expert Lee Cherng Wee expect Sapura Energy’s profit to enhance, given the continuous pickup in worldwide capital consumption spending, as the O&G player offers for US$8.8 billion worth of employment this year contrasted with US$2.5 billion in 2017.
JF Apex gave the stock a “Purchase” proposal.
Then, an industry observer said the Sapura Energy’s President and CEO Tan Sri Shahril Shamsuddin who has more than 20 years experience, has put in methodologies that would pivot back onto the development direction.
When other oil and gas organizations are attempting to stay Sapura Energy then again is settling business negotiations, said the observer.