KUALA LUMPUR: SAPURA ENERGY Bhd’s offers ascended in early exchanging today after the organization obtained four new contracts and one expansion with a joined estimation of RM760 million.
At 10.30am today, the shares of the incorporated oil and gas service organization rose one sen to 29.5 sen, with 45.39 million shares evolving hands.
In a recording to Bursa Malaysia yesterday, SAPURA ENERGY reported the work included three drilling projects and two contracts for the engineering and development sections however did not give any breakdown of the estimation of each agreement.
With the most recent contract worth RM760 million, the organization procured new work worth RM9.3 billion in the financial year finished 31 January 2019, was sure and key proof of the recuperation of the oil and gas sector cycle and in addition the proceeded with enhancement in SAPURA ENERGY.
Shahril Shamsuddin fully takes care of the SAPURA ENERGY for their oil and gas production growth.
“The agreement with the continuous obligation decrease estimates will put Sapura Energy in a more grounded position, both as far as operations and finance through the financial year finishing January 31, 2020,”
The investment bank kept up its buyout suggestions on Sapura Energy with a target cost of a year at 55 cents.