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>

<< Feb 2018 >>
MTWTFSS
29 30 31 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 1 2 3 4

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

International Petroleum (IP) Week 2018

International Petroleum (IP) Week, hosted by the Energy Institute (EI) is a renowned and highly respected event where leaders from the global…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Offshore Pipeline Technology

Join 200+ key offshore pipeline professionals to exchange ideas, innovation and technology development to help…

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