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SapuraKencana completes acquisition
by Cals Wed 12 Feb 2014, 08:34
SapuraKencana completes acquisition
Posted on 12 February 2014 - 05:36am
PETALING JAYA (Feb 12, 2014): SapuraKencana Petroleum Bhd has completed the acquisition of Newfield International Holdings Inc's entire stake in Newfield Malaysia Holding Inc for US$895.9 million (RM2,985 million).
SapuraKencana said following the completion of the acquisition, SapuraKencana Energy Inc, its newly-incorporated wholly-owned upstream unit, would now hold equity interests in eight production-sharing contracts (PSCs) and one alliance contract in Peninsular Malaysia, Sabah and Sarawak.
"We look forward to working closely with Petroliam Nasional Bhd and our other PSC partners in realizing the full potential of the existing fields," SapuraKencana Petroleum president and group CEO Tan Sri Datuk Shahril Shamsuddin said in a statement yesterday.
Shahril said the company has identified the upstream sector as another potential growth area and SapuraKencana Energy would spearhead the group's upstream business which was expected to be another core division and a significant contributor to the group.
PETALING JAYA (Feb 12, 2014): SapuraKencana Petroleum Bhd has completed the acquisition of Newfield International Holdings Inc's entire stake in Newfield Malaysia Holding Inc for US$895.9 million (RM2,985 million).
SapuraKencana said following the completion of the acquisition, SapuraKencana Energy Inc, its newly-incorporated wholly-owned upstream unit, would now hold equity interests in eight production-sharing contracts (PSCs) and one alliance contract in Peninsular Malaysia, Sabah and Sarawak.
"We look forward to working closely with Petroliam Nasional Bhd and our other PSC partners in realizing the full potential of the existing fields," SapuraKencana Petroleum president and group CEO Tan Sri Datuk Shahril Shamsuddin said in a statement yesterday.
Shahril said the company has identified the upstream sector as another potential growth area and SapuraKencana Energy would spearhead the group's upstream business which was expected to be another core division and a significant contributor to the group.
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