Vantris Energy lands RM1.8bil offshore work orders

KUALA LUMPUR: Vantris Energy Bhd has secured two offshore transportation and installation (T&I) contracts from PETRONAS Carigali Sdn Bhd and PTTEP, amounting to a combined RM1.8 billion. The agreements, obtained by its indirect wholly owned VTEB Offshore Sdn Bhd, are anticipated to bolster the corporation's order book as it seeks to rebuild its business.

The initial contract, awarded by PETRONAS Carigali under a current deal for the provision of offshore T&I works, spans from the third quarter of 2026 until the fourth quarter of 2027. The second contract, granted by PTTEP under an existing agreement for offshore T&I works related to their development initiatives, also spans from the third quarter of 2026 to the fourth quarter of 2027.

Vantris Energy's chief executive officer, Muhammad Zamri Jusoh, emphasized that these contracts underscore the group's robust offshore construction capabilities. He stated that the company remains committed to disciplined execution, safe delivery, and operational excellence as it strives to rebuild and enhance its order book. The primary objective now is to transform these new contracts into successful project execution, improved cash flow, and a stronger foundation for enduring growth.

The recent achievements follow as Vantris Energy continues to prioritize operational discipline and commercial execution. The company aims to fortify its financial position while delivering projects safely and efficiently. The awarded contracts also serve to reinforce the strategy of securing projects that align with the company's core competencies and execution strengths, contributing to the development of a more robust business.