Vantris Energy, the Malaysian oil-services company formerly known as Sapura Energy, has just secured a game-changing contract that could redefine its operational strategy and financial resilience. Through its joint venture, Rawabi Sapura (Rawabi JV), the company has landed a seven-year deal with Saudi Aramco, starting in 2027 and running until April 30, 2034. This isn’t just another contract—it’s a strategic pivot for Vantris Energy, marking its first foray into the Saudi market and a significant step toward long-term, day-rate stability.
The contract covers a comprehensive suite of diving support services, including diving support vessels (DSVs) with crews, remotely operated underwater vehicles (ROVs), and associated personnel. It’s not just about the hardware; Rawabi JV will also provide divers, diving equipment, management, supervisory support, and onshore services for inspections, surveys, underwater photography, material testing, structural repairs, and other related activities. In short, it’s a full-service package that positions Vantris Energy as a key player in Aramco’s underwater operations.
For Vantris Energy, this deal is more than a revenue stream—it’s a validation of its growth strategy. Muhammad Zamri Jusoh, Group Chief Executive Officer of Vantris Energy, didn’t mince words when he called it a “strategic milestone.” The contract aligns with the company’s push to expand its operations and maintenance (O&M) division beyond Malaysia and shift its order book toward long-term, day-rate contracts. This isn’t just about securing work; it’s about building a more resilient business model.
The financial implications are significant. Vantris Energy expects the contract to contribute positively to its earnings and net assets over the seven-year period, providing a stable foundation for growth in the region. This is particularly important for a company that has been navigating market fluctuations and restructuring in recent years. By securing long-term contracts, Vantris Energy is hedging against volatility and positioning itself for sustainable growth.
The deal also highlights the importance of strategic partnerships. Rawabi Sapura is a 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. This collaboration not only strengthens Vantris Energy’s operational capabilities but also broadens its reach in the Saudi market.
For the maritime and oil-services sectors, this contract signals a few key trends. First, it underscores the growing demand for specialised diving and underwater services in the Middle East, particularly as companies like Aramco invest heavily in maintaining and expanding their offshore infrastructure. Second, it highlights the shift toward long-term, day-rate contracts as a way to ensure financial stability and operational continuity. Finally, it demonstrates the value of strategic joint ventures in accessing new markets and diversifying revenue streams.
As Vantris Energy embarks on this seven-year journey with Aramco, the company will need to deliver on its promises. The contract is a significant vote of confidence, but it also comes with high expectations. How Vantris Energy performs will not only impact its own growth but also set a precedent for other companies looking to enter the Saudi market.
This deal is a testament to the power of strategic vision and execution. It’s a reminder that in an industry as dynamic as oil and gas, long-term contracts and strategic partnerships can be the difference between survival and success. For Vantris Energy, the future looks promising—and it’s just getting started.