What Vantris Energy Berhad does

Vantris Energy Berhad (formerly Sapura Energy Berhad, formerly SapuraKencana Petroleum Berhad) is a Kuala Lumpur-headquartered, Bursa Malaysia-listed integrated upstream oil and gas services provider operating through three core segments: Engineering and Construction (EPCIC for offshore platforms, pipelines, subsea systems and renewables), Operations and Maintenance (hook-up and commissioning, topside maintenance, subsea services, brownfield rejuvenation, offshore support vessels, geosurvey), and Drilling (tender-assist drilling). The company owns and operates the world's largest fleet of tender-assist drilling rigs — including mono-hull barge tenders (T-9 through T-18) and semi-submersible semi-tenders capable of operating in waters from 30 ft to 6,000 ft with drilling depth up to 30,000 ft — alongside six pipelay support vessels under the Sapura Navegacao Maritima joint venture with Seadrill in Brazil, multiple fabrication yards in Malaysia, and proprietary subsea well intervention equipment (RLWI system, SID, ICS, AXE cutting system) and in-house ROVs built by subsidiary Total Marine Technology Pty Ltd.

The company's go-to-market is enterprise field sales targeting national oil companies (PETRONAS, Petrobras) and international oil companies (Shell, Chevron, BP, Hess, ExxonMobil, Total, ONGC, Woodside, Repsol, Murphy) through competitive tenders and direct awards for long-term, contract-based engagements. Revenue is generated via project-based EPCIC contracts, long-term service agreements and call-out contracts for O&M, and time charters for the drilling rig fleet. Pricing is contract-by-contract and not publicly disclosed. The business operates across 20 countries with a 13,000-strong workforce spanning over 25 nationalities.

The company emerged from a major financial restructuring completed in September 2025, which reduced total borrowings from RM10.8 billion to RM5.5 billion and eliminated 99.99% of accumulated losses, anchored by a RM1.1 billion injection from government-linked Malaysia Development Holding Sdn Bhd. Vantris Energy received an unqualified audit opinion for FY2026 and exited Bursa Malaysia's PN17 affected-issuer status effective 18 June 2026, reporting Q1 FY2027 revenue of RM645.2 million and PATAMI of RM145.8 million, the second consecutive quarter of profitability, with a group order book of RM5.9 billion plus RM2.9 billion in joint ventures and associates as at 30 April 2026.

Name

Vantris Energy Berhad

Legal name

Vantris Energy Berhad

Website

https://vantrisenergy.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Vantris Energy Berhad is a Kuala Lumpur-listed integrated upstream oil and gas services provider operating the world's largest fleet of tender-assist drilling rigs, alongside EPCIC construction, subsea services, and offshore support vessels for NOCs and IOCs across 20 countries.

Ownership category

akta.pro rank

Product category

Offshore Oil and Gas Services

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (21112)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

OFS Engineering, Construction & O&M (Field Development, Brownfield, Maintenance) (EUALABAM)

akta.pro secondary industries

Drilling & Workover Rigs (Land & Offshore) (EUALABAA), Well Intervention, Workover & Integrity Management (EUALAAAJ)

Keywords

• Upstream oilfield services
• Offshore drilling services
• Tender-assist drilling rigs
• Engineering and construction
• Operations and maintenance

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Engineering and Construction (E&C): EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) contracts for offshore platforms, pipelines, subsea systems, and renewable energy projects. Revenue is project-based and long-term, with contracts won through competitive tender. The segment delivered improved profitability in Q1 FY2027 driven partly by improved performance in its Brazil joint venture.
2. Operations and Maintenance (O&M): Hook-up and commissioning, topside maintenance, subsea services, brownfield rejuvenation, offshore support vessels, geosurvey and geotechnical services. Revenue is generated through long-term service agreements and call-out contracts. O&M segment had an order book of approximately RM1.3 billion as of Q1 FY2027.
3. Drilling (Tender-Assist Drilling): Charter and operation of tender-assist drilling rigs (TAD) and semi-tender rigs for development drilling, well completion, workovers, and plug and abandonment. Revenue is earned through time charters with major oil companies, supported by higher charter rates and increasing demand for the rig fleet.
4. Exploration and Production (E&P): Upstream production from owned oil and gas fields, including SK310 B15 gas field and SK408 gas fields offshore Sarawak, Malaysia. Revenue from gas sales agreements with PETRONAS. The company produced 4.8 million barrels net in FY2016 and completed SK310 B15 development in October 2017.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Vantris Energy Berhad provides integrated upstream oil and gas services spanning engineering and construction, operations and maintenance, and drilling services. The company operates what is described as the world's largest fleet of tender-assist drilling rigs, supporting offshore exploration and production activities for national and international oil companies.

Product overview

Vantris Energy Berhad (formerly Sapura Energy Berhad and SapuraKencana Petroleum Berhad) is a global oil and gas services provider operating through three core business segments: Engineering and Construction, Operations & Maintenance, and Drilling. The company offers an integrated suite of services spanning field development solutions, offshore construction, subsea services, and tender-assist drilling. Its asset portfolio includes the world's largest fleet of tender assist drilling rigs, pipelay vessels, diving support vessels, ROVs, and specialized well intervention equipment. The company operates across 20 countries with a workforce of 13,000 people globally, serving major oil and gas operators including PETRONAS, Petrobras, Shell, and ONGC.

Differentiator

Problem solved

Functional benefit

Brands

• Sapura Alliance (Semi-Tender Rig): Semi-tender rig brand under drilling operations
• Sapura Berani (Semi-Tender Rig)
• Sapura Esperanza (Semi-Tender Rig)
• Sapura Jaya (Semi-Tender Rig)
• Sapura Pelaut (Semi-Tender Rig)
• SKD (SapuraKencana Drilling) Fleet
• Well Services Equipment
• TAD (Tender-Assist Drilling)

Products and services

• Engineering and Construction Services
• Operations and Maintenance Services
• Drilling Services

Quantifiable outcome

• Average rig uptime of 99%+ across the drilling fleet
• +5 more outcomes

Named customers36 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Ernst & Young PLTminorOthers · 26 September 2025Messrs Ernst & Young PLT (EY) serves as the external auditor for Vantris Energy Berhad. EY issued an unqualified audit opinion with no material uncertainty related to going concern for FY2026 (financial year ended 31 January 2026), marking the first clean audit opinion in four years for the company.
• GE Oil & GascoreStrategic or Co-development Partner · 24 March 2016SapuraKencana GE Oil & Gas Services Sdn Bhd (SKGE) is a joint venture between SapuraKencana Services Sdn Bhd and GE Power Systems (Malaysia) Sdn Bhd. The joint venture provides comprehensive maintenance services for GE-supplied turbomachinery equipment on PETRONAS floating LNG vessels (PFLNG1 and PFLNG2), including gas turbines, centrifugal compressors, generators, and electric motors under long-term service agreements. This was the first long-term maintenance agreement of its kind in the world for an FLNG vessel.
• Newfield International Holdings Inc.coreStrategic or Co-development Partner · 11 February 2014Vantris Energy (formerly SapuraKencana) completed the acquisition of Newfield International Holdings Inc.'s entire equity interest in Newfield Malaysia Holding Inc. for US$895.9 million (adjusted from US$898 million). The acquired assets include 8 Production Sharing Contracts and one alliance contract in Peninsular Malaysia, Sabah, and Sarawak. This acquisition marked the company's entry into the upstream exploration and production sector.
• Subsea 7 S.A.minorStrategic or Co-development Partner · 1 January 2014SapuraAcergy Sdn Bhd is a joint venture equally owned by SapuraKencana and Subsea 7 S.A. The joint venture was awarded a 20-month contract for subsea services for Brunei's Maharaja Lela South Project, providing engineering, procurement, supply, construction, pre-commissioning, transportation, and installation related to offshore platform and pipeline works.
• Larsen & Toubro LtdminorStrategic or Co-development Partner · 1 January 2014L&T Sapura Offshore Private Limited is an Indian joint venture between Larsen & Toubro Ltd and Nautical Power Pte Ltd (a wholly-owned subsidiary of SapuraKencana). The joint venture was awarded subcontract work for transportation and installation works for BG Exploration & Production India Limited Mukta B Platform and Pipeline Project in India.
• Seadrill LtdcoreStrategic or Co-development Partner · 1 November 2011Sapura Navegacao Maritima (SNM) is a 50:50 joint venture between Vantris Energy (formerly SapuraKencana) and Seadrill Ltd for Brazil operations. SNM operates six pipelay support vessels (PLSVs) for Petrobras under long-term contracts worth a total of US$4.1 billion. Seadrill's original tender rig business was acquired by SapuraKencana for US$2.85 billion in May 2013.

Scale indicators19 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• TechnipFMC plc: Global leader in subsea systems, surface projects, and integrated EPC services for the oil and gas industry. Comparable as a broader EPC and subsea services incumbent with extensive offshore engineering and installation capabilities overlapping Vantris's portfolio.
• McDermott International, Ltd. Global EPCIC contractor specializing in offshore and subsea field development for offshore oil and gas projects worldwide. Direct overlap with Vantris's EPCIC, subsea, and offshore installation services serving similar NOC/IOC client base.
• Subsea 7 S.A. Global subsea engineering, construction, and services company specializing in SURF (subsea, umbilicals, risers, flowlines) and offshore wind installation. Notably a JV partner of Vantris in SapuraAcergy, but a broader subsea contractor offering comparable pipelay and subsea construction services.
• SBM Offshore N.V. Netherlands-based provider of floating production solutions (FPSOs) and offshore production services to the oil and gas industry. Comparable as a large offshore-focused services incumbent with similar EPCI and lifecycle services overlap.
• Saipem S.p.A. Italy-headquartered global offshore EPC and drilling contractor operating a fleet of vessels for pipelay, heavy lift, and drilling worldwide. Comparable integrated EPC and offshore services platform, though operating at much larger scale and with broader geographic reach.
• Seadrill Limited: Global offshore drilling contractor operating jackups, semisubmersibles, and drillships worldwide. Notably the seller of the tender rig business to Vantris in 2013 for US$2.85B and JV partner in Sapura Navegacao Maritima; remains a broader offshore drilling competitor.

Direct peers

• EMAS Offshore Limited: Singapore-based offshore support services company operating a fleet of OSVs, subsea construction vessels, and accommodation units serving NOCs and IOCs in Asia-Pacific and West Africa. Comparable scale and asset mix to Vantris's offshore support and subsea construction fleet.
• Mermaid Maritime Public Company Limited: Thailand-based offshore services company providing subsea inspection, repair and maintenance, ROV, diving, and cable-lay services to oil and gas operators across Southeast Asia, the Middle East and Africa. Directly comparable regional peer competing for similar offshore support vessel and subsea contracts.
• Vallianz Holdings plc: Singapore-listed offshore support vessel provider offering offshore marine logistics, O&M, and accommodation services to the oil and gas industry. Closely comparable OSV and offshore services peer with overlapping presence in Southeast Asia and the Middle East.

Regional players

• PTSC Offshore Services Joint Stock Company: Vietnam-based offshore EPCI and O&M services provider serving domestic and regional oil and gas operators, including as a client of Vantris's T&I services. Comparable offshore services peer focused on Asia-Pacific markets with strong domestic SOE backing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/VantrisEnergy
• LinkedInlinkedin.com/company/vantris-energy

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vantris Energy Berhad