Sapura Energy Berhad (Sapura Energy) and OMV Aktiengesellschaft (OMV AG) have successfully concluded their strategic partnership agreement on 31st January 2019. This is a key milestone for both companies as we move forward with our aligned vision of creating a leading independent oil and gas company.
With this, OMV Exploration & Production GmbH, a wholly-owned subsidiary of OMV AG, now owns 50 per cent stake in Sapura Energy’s E&P arm, under a new JV company which will be called SapuraOMV Upstream Sdn. Bhd. Under the partnership, Malaysia will remain the main hub to expand the business in Asia Pacific and Mexico.
Sapura Energy is confident that the partnership with OMV will enable sharing of expertise, knowledge and technology to mitigate risks and reduce capital requirements in relation to exploration and development activities.
Cautionary note: “Sapura Energy”, “the group” and “the company” are used for convenience where references are made to Sapura Energy Berhad in general. Similarly, words like “we”, “us” and “our” are used to refer to Sapura Energy Berhad in general or to those who work for the company and its subsidiaries, where relevant. This press release may contain forward-looking statements. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding our financial position, financial estimates, business strategies, prospects, plans and objectives for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. Such forward-looking statements reflect our current view with respect to future events and are not a guarantee of future performance. Forward-looking statements can be identified by the use of forward-looking terminology such as the words “may”, “will”, “would”, “could”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “aim”, “plan”, “forecast” or similar expressions and include all statements that are not historical facts.