Vantris Energy Dives Deeper in Saudi Oil Market with Aramco Deal

Malaysian oil-services company Vantris Energy, formerly Sapura Energy, has through its joint venture company Rawabi Sapura (Rawabi JV) secured a seven-year contract to provide diving support services for Aramco in Saudi Arabia, starting from 2027.

The contract runs until April 30, 2034, and will cover diving support vessels (DSVs) with crews, remotely operated underwater vehicles (ROVs) and associated personnel, divers, diving equipment, diving management and supervisory and onshore support for inspections, surveys, underwater photography, material testing, structural repairs and other related activities.

The deal marks Rawabi JV’s first contract with Aramco and marks a significant step for Vantris Energy’s operations & maintenance (O&M) division, which is seeking to broaden its footprint outside Malaysia and shift its order book toward long-term, day-rate contracts.

“Securing this seven-year contract with a global leader like Aramco is a strategic milestone for Vantris Energy. It validates our growth strategy, which includes expanding O&M’s portfolio beyond Malaysian shores. This is also part of our effort to rebalance our order book towards long-term, day-rate based contracts, helping us build a stronger, more resilient Vantris Energy for the future,” said Muhammad Zamri Jusoh, Group Chief Executive Officer of Vantris Energy.

The company said the contract is expected to contribute positively to its earnings and net assets over the seven-year period, thereby supporting its financial stability and growth in the region.

Rawabi Sapura is a strategic joint venture between Sapura Saudi Arabia Company, a wholly-owned subsidiary of Sapura Offshore, itself an indirect wholly-owned subsidiary of Vantris Energy, and Rawabi Vallianz Offshore Services Company.