INTRODUCTION

Sapura Energy Berhad ("SEB" or the “Company") is pleased to announce that its wholly-owned subsidiary, Sapura Energy (Thailand) Limited (“SETH”) has been awarded Work Order and Service Orders with a combined value exceeding RM 500 million for works in Thailand.

Details of each Work Order/Service Orders are as summarized below:

1. Work Order from Chevron Thailand Exploration and Production Ltd. and Chevron Offshore (Thailand) Ltd (“CHEVRON”) for Work Order of 2026 Offshore Wellhead Platform and Pipeline Transportation, Installation and Removal Campaign in Thailand (“Work Order 1”)
2. Service Order from PTT Exploration and Production Public Company Limited (“PTTEP”) for Provision of 2025 Saturation Diving for Subsea Inspection, Repair and Maintenance (IRM) Services for Bongkot B15 Field (“Service Order 1”)
3. Service Order from PTTEP Energy Development Company Limited (“PTTEP ED”) for Provision of 2025 Saturation Diving for Subsea Inspection, Repair and Maintenance (IRM) Services for G1/61 Field (“Service Order 2”)
4. Service Order from PTTEP Energy Development Company Limited (“PTTEP ED”) for Provision of 2025 Saturation Diving for Subsea Inspection, Repair and Maintenance (IRM) Services for G2/61 Field (“Service Order 3”)

SALIENT CONTRACT TERMS

1. The new project under “Work Order 1” has commenced in Q3 2025 and expected to be completed by Q4 2026.
2. The new project under “Service Order 1”, “Service Order 2” and “Service Order 3” have commenced in Q2 2025 for a period of 5 months from the effective date.

FINANCIAL EFFECTS

The Work Order and Service Orders will not have any effect on the share capital and shareholding structure of Sapura Energy Berhad. The Work Order and Service Orders, however, are expected to contribute positively to the earnings for the financial years ending 31 January 2026 onwards until the expiry of the Work Order and Service Orders.

RISK FACTORS

The risk factors affecting the Work Order and Service Orders includes changes in economic, and regulatory environment and operational risks such as execution risk which the Group would take appropriate measures to minimize and mitigate such risks. 

DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS

None of the Directors and/or major shareholders of the Company and/or persons connected with them have any direct or indirect interest in the award of the Work Order and Service Orders herein.

DIRECTORS’ STATEMENT

The Board is of the opinion that acceptance of the Work Order and Service Orders is in the best interest of the Company.

This announcement is dated 25 July 2025.