Shareholders of Sapura Energy Berhad voted overwhelmingly to subscribe to the group’s rights issue and support its growth plans at the Extraordinary General Meeting (EGM) today. In a significant vote of confidence, shareholders passed all six resolutions in conjunction with the proposed rights issue, which entails raising up to RM4 billion.

Sapura Energy Berhad (Sapura Energy) marked a significant milestone in its growth strategy when its wholly-owned subsidiaries, Sapura Fabrication Sdn Bhd and Sapura Saudi Arabia, were selected to join Saudi Aramco’s Long-Term Agreement (LTA) programme.

Sapura Energy Berhad (Sapura Energy) has strengthened its presence in Mexico and Malaysia with new contract wins valued at approximately RM1.75 billion. The new contracts have lifted the company’s orderbook to RM18 billion and total contract wins to-date for this financial year to RM7 billion.

Sapura Energy Berhad (Sapura Energy) and OMV on 9 November 2018 signed a Share Subscription Agreement and a Shareholders’ Agreement to form a strategic partnership. Under the agreements, OMV Exploration and Production GmbH (OMV E&P), a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd (SUP), based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1,250 million and debt of USD350 million.

Sapura Energy Berhad (“Sapura Energy” or “the Group”) today announced its financial results for the period ended 31 July 2018, registering an increase in revenue at RM1.3 billion for Q2 FY2019 compared to the immediate preceding quarter (Q1 FY2019) at RM1.1 billion. The Group recorded a loss-before-tax of RM80 million for Q2 FY2019, compared to a loss-before-tax of RM108 million in Q1 FY2019.

Sapura Energy Berhad (“Sapura Energy” or “The Group”) has obtained firm support from two major shareholders, Permodalan Nasional Berhad (“PNB”) and Sapura Technology Sdn Bhd (“Sapura Technology”), by means of letters of irrevocable undertaking for their proposed issuance of rights shares with warrants and rights issue of Islamic redeemable convertible preference shares (“RCPS-i”).

Sapura Energy Berhad (“Sapura Energy” or “the Group”) today announced that it has secured three new contracts and a contract extension valued at approximately RM815 million in Australia, Brunei, Malaysia and Nigeria, bringing the total value in contract wins for this financial year to-date to RM5.3 billion for the Group.

Sapura Energy Berhad (“Sapura Energy”) announced today that it has entered into a Heads of Agreement with Austria’s OMV Aktiengesellschaft (“OMV AG”) to form a strategic partnership.

Sapura Upstream Sdn Bhd (“Sapura Upstream”; formerly known as Sapura Exploration and Production Sdn Bhd), a wholly-owned subsidiary of Sapura Energy Berhad (“Sapura Energy”), today made its maiden foray into Australia through farm-in agreements to three offshore exploration permits held by Finder Exploration Pty Ltd (“Finder”), a private oil and gas company based in West Perth, Australia.

Sapura Energy Berhad (“the Group” or “Sapura Energy”) today proposed a rights issue as part of a broader strategic plan to strengthen the group’s core businesses, boost its financial position and create better value for its shareholders.