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Sapura Energy

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Sapura Energy Berhad
FormerlySapuraKencana Petroleum Berhad
Company typePublic
MYX: 5218
ISINMYL5218OO002
IndustryOilfield services
Predecessor
  • SapuraCrest Petroleum Berhad
  • Kencana Petroleum Berhad
Founded15 May 2012; 12 years ago (2012-05-15) (merger between SapuraCrest and Kencana)
HeadquartersNo. 7, Jalan Tasik, Mines Resort City, 43300 Seri Kembangan, Selangor, Malaysia
Key people
  • Abdul Jalil Abdul Rasheed (Chairman)
  • Shahril Shamsuddin (President & CEO)
Websitewww.sapuraenergy.com

Sapura Energy Berhad (formerly known as SapuraKencana Petroleum Berhad) is a Malaysian integrated oil and gas services company based in Seri Kembangan, Selangor. Sapura Energy trades in over 20 countries, such as China, Australia, United States of America, and those in Western Africa and the Middle East, employing approximately 13,000 people.[1] Sapura Energy’s operations cover exploration, development, production, rejuvenation, decommissioning, and abandonment.[2] The company was formed via a merger between SapuraCrest and Kencana in May 2012[3][4] and trades on the Main Market of Bursa Malaysia Securities Berhad. The company was renamed as Sapura Energy Berhad on March 24, 2017.[5]

Core businesses

Engineering and Construction

One of Sapura Energy’s core businesses is Engineering and Construction, which includes the creation of offshore platforms and marine pipelines for oil exploration.[6] It is supported by a strategic group of assets such as pipelaying vessels, six of which are in full operation for Petróleo Brasileiro S.A. (Petrobras) in Brazil.[7] The vessels are fitted with remotely operated vehicles (ROVs) developed and built by Total Marine Technology Pty Ltd (TMT), an Australian subsidiary of SapuraKencana.[8]

Operations and Maintenance

Through its engineering, procurement, construction, installation, and commissioning (EPCIC) solutions, Sapura Energy also offers its clients in the oil and gas industry operations and maintenance (O&M) services. Its offshore support services ranges from topside maintenance, subsea services, brownfield rejuvenation, and geosurvey and geotechnical, to the provision of offshore support vessels.[9]

Drilling and Completion

The world’s largest owner and operator of tender rigs, Sapura Energy maintains more than 50% of the global market share.[10] In 2013 Sapura Energy bought $2.9 billion worth of tender rigs from deepwater drilling company Seadrill, further expanding the company’s tender rig business.[11] The company has over four decades of experience in tender-assist drilling operations and drills more than 400 wells in a year.[10]

Exploration and Production

Sapura Energy is also known for its exploration and production of oil and gas.[9] In 2014, the company’s energy division was able to lift 5.1 million barrels of oil equivalent from Peninsula Malaysia fields. In the same year, it achieved a 100% exploration success rate due to its five significant gas discoveries in Sarawak’s SK408 project, resulting in more than three trillion cubic feet of gas.[12] B

Ownership

Sapura Energy Berhad is a public limited liability company. As of 2017, the number of shareholders totals to 37,217 with Sapura Technology Sdn Bhd retaining 13.37% and the Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board holding 10.06% of the shares.

The Chairman of the Board of Directors is Hamzah Bakar while the company’s President and Group Chief Executive Officer is Shahril Shamsuddin, who also serves on the board of directors and the President and Group Chief Executive Officer of Sapura Group[13]

References

  1. ^ SapuraKencana Petroleum Berhad. 2015. Annual Report 2015. Retrieved 19 August 2014.
  2. ^ Rigzone.com, Inc. Featured Employer: Sapura Energy Berhad. Retrieved 30 August 2017.
  3. ^ Oxford Business Group. SapuraKencana Petroleum: Oil and Gas. Retrieved 09 August 2015.
  4. ^ J, Yap. 2012. SapuraKencana Becomes Nation’s Largest O&G Player. Borneo Post. Retrieved 09 August 2015.
  5. ^ SapuraKencana gets new name Offshore Energy Today (28 March 2017). Retrieved on 28 March 2017. "Malaysian oilfield services company SapuraKencana Petroleum Berhad has now changed its name to Sapura Energy Berhad.".
  6. ^ Nikkei Asian Review. Sapura Energy Bhd. Retrieved 30 August 2017.
  7. ^ S. Puspadevi. 2017. Sapura Energy Springs a Surprise. The Star Online. Retrieved 30 August 2017.
  8. ^ Subsea World News. 2016. Sapura Rubi Starts Petrobras Job. Retrieved 30 August 2017.
  9. ^ a b Bloomberg L.P. Sapura Energy Bhd (SAPE:Kuala Lumpur). Retrieved 30 August 2017.
  10. ^ a b Malaysia Petroleum Resources Corp. 2017. OTC EXTRA: Malaysia Showing Resilience Amid Turbulence. Retrieved 30 August 2017.
  11. ^ Offshore Energy Today. 2013. SapuraKencana Buys $2.9 Bln Worth of Tender Rigs from Seadrill. Retrieved 30 August 2017.
  12. ^ The Star Online. 2015. SapuraKencana Gets 14 Jobs Worth RM5.1bil. Retrieved 30 August 2017.
  13. ^ Sapura Energy. 2017. Annual Report 2017.
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