KUALA LUMPUR: SapuraCrest Petroleum Bhd is bidding for RM3 billion worth of contracts locally and overseas, said its chief executive officer, Rohaizad Darus. Of the amount, he said, about RM1.4 billion were local contracts and the rest overseas.

'Among the contracts the company is bidding for are long-term maintenance services for Petronas Carigali and multiple contracts in Vietnam, Indonesia and India,' he told reporters after the AGM on Tuesday, July 6.

Rohaizad said the company has RM10 billion worth of contracts in hand with 70% of them being local. He said the company also planned to reduce its cost by below RM30 million this year.

Meanwhile, Sapura Group president/chief executive officer, Datuk Shahril Shamsuddin, said SapuraCrest planned to focus on overseas expansion going foward. Shahril, who is also executive vice-chairman of SapuraCrest, said Indonesia, Vietnam, Middle East and India were among the countries.

He said SapuraCrest has invested more than US$200 million (US$1=RM3.19) in India, a big market to the company. 'Although priority will be on the Malaysian market, we will also aggressively embark on opening new markets,' he said. - Bernama"