Vantris Energy wins RM1.8 billion in offshore T&I contracts from PETRONAS Carigali and PTTEP in Malaysia

Vantris Energy just locked in two offshore transportation and installation contracts in Malaysia — one from PETRONAS Carigali, one from PTTEP — worth a combined RM1.8 billion ($442 million). Both go to VTEB Offshore Sdn Bhd, the company’s indirect wholly owned subsidiary. Execution starts in Q3 2026.

Two work orders awarded to Vantris Energy subsidiary

Both contracts landed through Vantris Energy’s Engineering & Construction segment, the company’s main vehicle for offshore project work — and both went straight to VTEB Offshore Sdn Bhd, previously known as Sapura Offshore Sdn Bhd, a fully owned subsidiary operating under the Vantris umbrella.

Worth noting: neither contract required starting a tender process from zero. Both work orders fall under master contracts already in place with each client, meaning VTEB Offshore was working within pre-established commercial frameworks when the awards came through. Combined, the two work orders add approximately RM1.8 billion ($442 million) to the company’s order book.

The first work order is from PETRONAS Carigali, awarded under its existing Contract for the Provision of Transportation and Installation of Offshore Facilities.

Contract details: Scope, clients, and timelines

The first work order is from PETRONAS Carigali, awarded under its existing Contract for the Provision of Transportation and Installation of Offshore Facilities. The second comes from PTTEP HK Offshore Limited and PTTEP Sarawak Oil Limited — collectively referred to as PTTEP — under their existing contract for offshore T&I works covering PTTEP development projects.

Both scopes focus on offshore transportation and installation: physically moving and setting large structural components — jackets, topsides, subsea pipelines — in open water, using heavy-lift marine vessels and specialized equipment. It’s demanding, capital-intensive work that leaves little margin for error.

The timelines run almost in parallel. Both work orders kick off in Q3 2026 and are expected to wrap by Q4 2027 — roughly an 18-month execution window for each, running simultaneously across two separate client programs.

Impact on Vantris Energy’s order book and financial position

For Vantris Energy, rebuilding a healthy pipeline of contracted work isn’t just a nice-to-have — it’s a stated strategic priority. The company’s been open about order book replenishment sitting at the center of its recovery. These two awards move that needle in a real direction.

CEO Muhammad Zamri Jusoh addressed the wins directly. “These awards further reflect the strength of our offshore construction capabilities,” he said. “As we continue to rebuild and strengthen our order book, our focus remains on disciplined execution, safe delivery and operational excellence.”

He was equally clear about what comes next. The priority is converting these contract wins into strong project performance and healthier cash generation — not simply marking the wins on a scorecard. Vantris Energy also pointed to its broader commitment to building a resilient business capable of creating sustainable value for all stakeholders, language that fits a company treating these awards as part of a longer rebuilding arc rather than a standalone moment.

Background: Vantris Energy and Malaysia’s offshore construction sector

The VTEB Offshore name might be unfamiliar to some, but the roots run deep. The entity was previously Sapura Offshore Sdn Bhd — a well-known name in Malaysian offshore construction — before being rebranded as part of Vantris Energy’s corporate restructuring. The operational expertise carried over intact.

PETRONAS Carigali is the upstream exploration and production arm of PETRONAS, Malaysia’s national oil company, and one of the most active offshore operators in the region. It’s a major client for marine construction and installation services across Malaysian waters.

PTTEP is the international upstream subsidiary of PTT, Thailand’s state-owned oil and gas conglomerate, running significant development activity in Malaysian waters — particularly in Sarawak. That explains why both PTTEP HK Offshore Limited and PTTEP Sarawak Oil Limited appear in this award.

Offshore T&I services sit at the capital-intensive end of the oil and gas supply chain. Moving and installing subsea infrastructure requires specialized vessels, precision engineering, and tight safety protocols. Track record matters enormously here, which is part of why these contracts were awarded within existing master agreements rather than through open competition.

What these awards mean for Vantris Energy going forward

Together, the two work orders mark a concrete step in Vantris Energy’s effort to stabilize and grow. The RM1.8 billion ($442 million) combined value gives the company revenue visibility through late 2027 — a firmer base for financial planning and operational investment.

That both awards came through pre-existing master contracts with two of the region’s biggest upstream operators also says something. These aren’t new relationships being built from scratch; they’re established partnerships getting deeper.

Execution, as the CEO made clear, is now the focus. With commencement set for Q3 2026, the company has time to mobilize properly. Disciplined delivery on both fronts is expected to strengthen Vantris Energy’s position for future opportunities — and demonstrate that its offshore construction capabilities remain competitive in a demanding regional market.