Offshore engineering specialist Vantris Energy has fortified its financial pipeline after clinching two major transportation and installation (T&I) deals worth a combined RM1.8 billion ($441.8 million) from Petronas Carigali, a subsidiary of Malaysia’s Petronas, and PTTEP HK Offshore and PTTEP Sarawak Oil, subsidiaries of Thailand’s PTTEP.
Vantris Energy’s Engineering & Construction (E&C) segment has secured two work orders from Petronas Carigali and PTTEP for the provision of offshore transportation and installation services in Malaysia. These work orders were awarded to VTEB Offshore, formerly known as Sapura Offshore, the company’s indirect wholly owned subsidiary.
The work order with Petronas Carigali, under the existing contract for the provision of transportation and installation of offshore facilities, comprises offshore T&I works, scheduled to start in the third quarter of 2026, and is expected to be completed by the fourth quarter of 2027.
The work order with PTTEP, scheduled to begin in the third quarter of 2026, is also expected to be finished by the fourth quarter of 2027. These awards further strengthen Vantris Energy’s order book replenishment, reflecting its focus on securing opportunities that align with its core capabilities, execution strengths and long-term objectives.
Muhammad Zamri Jusoh, Vantris Energy Group’s Chief Executive Officer, commented: “These awards further reflect the strength of our offshore construction capabilities. As we continue to rebuild and strengthen our order book, our focus remains on disciplined execution, safe delivery and operational excellence.
“The priority now is to convert these wins into strong project performance, healthier cash generation and a stronger foundation for sustainable growth.”
These awards to Vantris Energy come a month after PTTEP’s subsidiaries and a subsidiary of Petronas Carigali entered into a production sharing contract (PSC) with the Malaysia-Thailand Joint Authority (MTJA) for Block A-18-01.
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