Publication Source: Upstream Online
Sapura Energy remains on track to achieve first gas at its B15 project on Block SK310 off Malaysia in the fourth quarter.
The Malaysian player, which has changed named from SapuraKencana Petroleum, is also progressing development plans for its Gorek and Larak fields in SK408, it said on Monday.
The Kuala Lumpur-listed company posted profit before tax of 104 million ringgit ($24.34 million) for the first quarter of the financial year, although it failed to give an after-tax value.
It also posted revenues for the period to the end of April of 1.8 billion ringgit, while the current orderbook stands at 17 billion ringgit.
Chief executive Shahril Shamsuddin said:“The challenging environment facing our industry continues with the persistent uncertainty in the outlook of oil prices. Nevertheless, the group has been able to consistently demonstrate competitiveness by securing and reliably executing projects globally.”