Sapura Energy set to list E&P business

Illustration (image source: Sapura Energy)

Malaysia’s Sapura Energy has confirmed its intention to list its exploration and production business.

Following several reports on the proposed listing of the E&P, the company issued a public statement on Friday, confirming its intention, adding the listing would, among others, provide an “avenue for the Company to monetize its assets.”

“The Board of Directors and management of the Company would like to inform that the Company has engaged advisors to evaluate and advise on the potential listing of the E&P business,” Sapura Energy said.

Sapura Energy, which also owns engineering & construction, and offshore drilling divisions,  did not provide any further details, only adding it would make the necessary announcement “should there be any material development on this matter.”

Reporting its third-quarter results back in October 2017, the company’s E&P business was the only one that recorded a rise in revenue. It was also the only profitable business branch of Sapura Energy.

Sapura Energy attributed the increase in revenue to the higher barrels of oil lifted and the effect of the higher average realized oil price achieved in the quarter.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Annual Ghana Summit 2018

The 8th Annual Ghana Summit took place 22 – 23 June 2017 and was a huge success…

read more >

25th Anniversary International Caspian Oil & Gas Conference

In 2018, the largest oil and gas event in the Caspian Region – the Caspian Oil & Gas Exhibition and Conference Incorporating Refining…

read more >

7th Oil and Gas Kenya 2018 Products & Eqpt. Exhibition in Africa

The 07th Oil & Gas Africa – Int’l Trade Exhibition, 29 – 31 May, 2018, is a hub for key players in the oil and gas…

read more >

FPSO Brazil Congress 2018

This is the first and only conference dedicated to the entire lifecycle of the Brazilian FPSO industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply