Malaysia’s Sapura Energy Berhad, in a joint venture with Petróleo Brasileiro SA (Petrobras), has secured contracts to provide services and charter six pipe-laying support vessels (PLSVs). The contracts, valued at $1.8 billion, are for a term of three years, with the longest contract lasting until 2028. The PLSVs will be used in Brazilian waters for subsea engineering, installation, and other services, including laying flexible pipes, electric-hydraulic umbilical, and power cables at depths of up to 9842.5 feet (3000 meters).
Sapura Energy, through its subsidiary Sapura Offshore Sdn Bhd, holds a 50 percent stake in the joint venture companies. In March, Sapura Energy and its subsidiaries were granted new orders by the High Court of Malaya for a three-month period to convene meetings with creditors to consider a proposed debt restructuring plan. The company has made significant progress in its restructuring exercise, with approval from multi-currency lenders and a review of claims from trade creditors.
The debt restructuring aims to address approximately $2.28 billion (MYR 10.8 billion) in multi-currency financing and outstanding payments to trade creditors totaling about $0.32 billion (MYR 1.5 billion). Sapura Energy Chairman Dato’ Mohammad Azlan Abdullah expressed appreciation for the Approval-in-Principle from financiers for the restructuring plan. The Benefits of Regular Exercise
Regular exercise is essential for maintaining overall health and well-being. Not only does it help to improve physical fitness, but it also has numerous benefits for mental and emotional health.
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Overall, regular exercise is essential for maintaining a healthy lifestyle. Whether it’s through cardiovascular activities, strength training, or flexibility exercises, incorporating regular physical activity into your routine can have numerous benefits for both the body and mind. So, lace up your sneakers and get moving for a healthier, happier you!