Vantris Energy
Vantris Energy is a Malaysian integrated oil and gas services company formerly known as Sapura Energy.
Last updated August 26, 2026
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Overview
Vantris Energy Berhad is a Malaysian integrated oil and gas services company headquartered in Kuala Lumpur. The company traces its corporate origins to the May 2012 merger of SapuraCrest Petroleum and Kencana Petroleum, which created SapuraKencana Petroleum Berhad. SapuraCrest contributed capabilities in oil and gas exploration, offshore installation and offshore support vessels, while Kencana brought expertise in offshore structure design, engineering, fabrication, hook-up and commissioning. The merger created one of Malaysia’s largest oil and gas service providers and a significant international contractor by asset value. The business has operated across much of the oil and gas project lifecycle. Its activities have included exploration, field development, production, offshore construction, marine pipelaying, drilling, completion, operations and maintenance, brownfield rejuvenation, decommissioning and abandonment. Engineering and construction work has covered offshore platforms and subsea or marine pipelines. The company has also provided engineering, procurement, construction, installation and commissioning solutions, together with offshore support vessels, geosurvey and geotechnical services, topside maintenance and subsea support. Drilling and completion became a particularly important part of the business after the acquisition of a tender-rig business from Seadrill in 2013. The company subsequently described itself as one of the world’s largest tender-rig owners and operators, with operations supported by several decades of experience. Its exploration and production activities have included Malaysian assets and projects offshore Sarawak and Peninsular Malaysia. International operations have included work in Brazil, where pipelaying vessels were used on projects for Petrobras, as well as activities in Asia, Australia, the United States, Western Africa and the Middle East. The company experienced substantial financial pressure after the global oil-price decline that began in 2014. Its exposure to drilling and exploration, combined with large debt-funded acquisitions and high gearing, made the business vulnerable to lower customer spending, asset impairments and reduced project profitability. The company reported major losses and impairments during the mid-2010s, and its financial position deteriorated further during the COVID-19 period because of project delays, supply-chain disruption, weak oil prices and financing costs. The company changed its name from SapuraKencana Petroleum Berhad to Sapura Energy Berhad on 24 March 2017. In 2022, after shareholder equity fell below the relevant threshold, it was classified as a PN17 company on Bursa Malaysia. It subsequently adopted the name Vantris Energy Berhad on 1 August 2025. The rebrand marked the company’s latest corporate identity while it continued to be associated with integrated oil and gas services and efforts to address its financial difficulties. The company is described as operating in more than 20 countries and employing approximately 13,000 people, although current operating scale and leadership details are not established in the supplied material.
History
Vantris Energy’s corporate history begins with the combination of SapuraCrest Petroleum and Kencana Petroleum in May 2012. SapuraCrest was associated with exploration, offshore installation and offshore support vessels, while Kencana focused on offshore structures, engineering, fabrication and offshore hook-up and commissioning. Their merger created SapuraKencana Petroleum Berhad and produced a large Malaysian integrated oil and gas services group with capabilities across offshore construction, drilling, production and related support activities. The company pursued rapid expansion during a period of strong oil-sector investment. In 2013 it acquired Seadrill’s tender-rig business in a transaction valued at approximately US$2.83 billion according to the supplied reference material. The acquisition strengthened the company’s position in tender-assist drilling but also increased its financial exposure. The company also acquired oil and gas assets associated with Newfield Exploration. At the end of 2013, its share price reached a reported peak of RM4.96, and its market capitalisation was reported at approximately RM28.5 billion. The 2014 oil-price shock changed the operating environment. Lower crude prices and reduced exploration spending affected drilling, offshore construction and related services. The company’s debt-funded expansion and reliance on capital-intensive assets magnified the impact. For the financial year ended 31 January 2016, it reported an impairment loss of approximately RM2.029 billion and a net loss of approximately RM791.445 million, compared with a reported profit in the prior year. The supplied material also states that its gearing ratio reached 134.15% in 2016, with net debt of RM16.38 billion against equity of RM12.21 billion. On 24 March 2017, SapuraKencana Petroleum changed its name to Sapura Energy Berhad. The change was intended to support a broader energy identity, but financial stress continued. A reported profit in 2017 was followed by a substantial net loss in 2018, including a large impairment charge. The company remained active in engineering and construction, drilling and completion, operations and maintenance, and exploration and production, but its asset-heavy model continued to face pressure from market conditions and financing obligations. The COVID-19 period added further strain. Supply-chain interruptions, project delays, lower oil prices, high financing expenses and cost escalation affected project performance. For the financial year ended 31 January 2022, the supplied material reports a net loss of approximately RM9.060 billion, a revenue decline from RM5.348 billion to RM4.100 billion, an increase in cost of sales from RM4.730 billion to RM6.264 billion, and an impairment loss of approximately RM5.606 billion. Reported shareholder equity fell from RM8.936 billion to RM0.078 billion. The company was classified as a PN17 issuer on 31 May 2022 after its financial position met the relevant distress criteria. In the following financial year, shareholder equity reportedly fell below zero to approximately negative RM2.906 billion after another net loss of approximately RM3.176 billion. Against this background, Sapura Energy Berhad changed its name to Vantris Energy Berhad on 1 August 2025. The rebrand represents the company’s latest corporate name, while the business remains rooted in integrated oil and gas services, including offshore engineering, construction, drilling, operations and maintenance, and exploration and production. The available reference material does not establish the company’s current restructuring outcome, leadership team, financial condition or official website.
- 2025
Renamed Vantris Energy
[1]Sapura Energy Berhad changed its name to Vantris Energy Berhad on 1 August 2025.
- 2022
PN17 classification
[1]The company was classified as a PN17 issuer on 31 May 2022 after a severe deterioration in shareholder equity.
- 2017
Renamed Sapura Energy
[1]SapuraKencana Petroleum Berhad changed its name to Sapura Energy Berhad on 24 March 2017.
- 2013
Tender-rig expansion
[1]The company acquired Seadrill’s tender-rig business, substantially expanding its drilling and completion platform.
- 2013
Reported market-value peak
[1]The supplied reference reports a share-price peak of RM4.96 on 29 December 2013 and a market capitalisation of approximately RM28.5 billion.
- 2012
Formation through SapuraCrest–Kencana merger
[1]SapuraCrest Petroleum and Kencana Petroleum merged in May 2012 to create SapuraKencana Petroleum Berhad.
Products and positioning
An integrated, internationally active oil and gas services contractor spanning offshore engineering, construction, drilling, operations and maintenance, and exploration and production.
Oil and gas services
Engineering and construction
The company provides offshore engineering and construction capabilities for oil and gas developments, including offshore platforms, marine pipelines and associated installation work. These services are supported by specialized marine assets and project-management capabilities and can cover construction, installation and commissioning across offshore developments.
Drilling services
Tender-assist drilling and completion
Vantris Energy inherited a large tender-rig business through the company’s acquisition of Seadrill’s tender-rig operations. Tender-assist rigs support offshore drilling from fixed or floating production facilities. The business has been described as having more than four decades of experience and as a major global tender-rig operator.
Oil and gas services
Operations and maintenance
Operations and maintenance activities include topside maintenance, subsea services, brownfield rejuvenation, offshore support vessels, and geosurvey and geotechnical work. The offering is designed to support existing offshore assets throughout their operating life and during modifications or late-life activity.
Upstream energy
Exploration and production
The company has also participated in oil and gas exploration and production. The supplied reference describes production from Peninsular Malaysia fields and exploration success associated with the SK408 project offshore Sarawak, including significant gas discoveries.
Brand decisions
2025
Corporate rename to Vantris EnergyStrategyBackground
The company changed its identity after years of financial pressure and PN17 classification.
Action taken
Sapura Energy Berhad became Vantris Energy Berhad on 1 August 2025.
Aftermath
Vantris Energy became the company’s latest corporate brand; the supplied material does not provide details of the rebrand’s commercial or restructuring results.
2017
Corporate rename to Sapura EnergyStrategyBackground
The company pursued a broader energy-oriented identity after operating as SapuraKencana Petroleum.
Action taken
It changed its legal and corporate name to Sapura Energy Berhad on 24 March 2017.
Aftermath
The Sapura Energy name remained in use until the company adopted the Vantris Energy name in 2025.
2013
Acquisition of Seadrill tender-rig operationsM&ABackground
The company sought to increase its scale and international position in offshore drilling during a period of stronger oil-sector investment.
Action taken
SapuraKencana acquired Seadrill’s tender-rig business in a transaction reported in the supplied material at approximately US$2.83 billion.
Aftermath
The acquisition expanded the drilling platform but increased leverage and exposure to the subsequent oil-price downturn.
Reported transaction value. Approximately US$2.83 billion (2013)
2012
Merger of SapuraCrest and KencanaM&ABackground
The two Malaysian oil and gas service companies brought together complementary offshore installation, vessel, engineering, fabrication and commissioning capabilities.
Action taken
They combined to form SapuraKencana Petroleum Berhad in May 2012.
Aftermath
The merger created one of Malaysia’s largest oil and gas service providers and established the corporate lineage of Vantris Energy.
Sources1 sources
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