Sapura Energy Berhad today announced its financial results for the period ended 31 July 2019 (Q2 FY20), registering an 87 per cent improvement in revenue at RM1.9 billion, compared to RM1.0 billion in the previous corresponding quarter (Q2 FY19). As a result, the Group narrowed its net loss to RM116.3 million during the quarter, compared with a net loss of RM199.2 million in Q2 FY19.

SapuraOMV Upstream today announced that its whollyowned subsidiary, SapuraOMV Upstream (Sarawak) Inc. and its partners, PETRONAS Carigali Sdn Bhd and Sarawak Shell Berhad have signed the full-term Upstream Gas Sales Agreement (UGSA) with Petroliam Nasional Berhad (PETRONAS) for the Gorek, Larak and Bakong fields under the first development phase of the SK408 Production Sharing Contract (PSC).

Sapura Energy Berhad (Sapura Energy) has been awarded 10 new contracts for its Engineering & Construction and Drilling segments, valued at approximately RM1 billion. The new contract wins, secured across Malaysia, Thailand, Taiwan and Australia, include Sapura Energy’s first offshore wind farm contract. In addition, Sapura Energy has been selected for a frame agreement with Petroliam Nasional Berhad (PETRONAS) for fixed offshore structure works.

Sapura Energy Berhad continued to improve its financials for the first quarter ended 30 April 2019 (Q1FY20) on strong revenue growth in core business segments and materialisation of effects from its corporate exercises, namely the rights issue and partnership with OMV.

Sapura Energy Berhad (Sapura Energy) registered a strong start to its financial year with five new contracts valued at approximately RM1.3 billion for its Engineering and Construction as well as Drilling segments. Among the new wins is the Submarine Rescue Service contract for The Royal Australian Navy, which is a first undertaking for the Group. Sapura Energy also marked a new entry into Egypt for works in the Gulf of Suez, along with other wins across Malaysia and Indonesia.

Sapura Energy Berhad (Sapura Energy) posted a profit-after-tax and minority interest of RM208 million for the financial year ended 31 January 2019 (FY19), compared to a loss-after-tax and minority interest of RM2.5 billion in the previous year (FY18). This included a gain of RM2.7 billion from the sale of 50 per cent stake in its Exploration and Production (E&P) business, through the strategic partnership with OMV, and a provision for impairment of RM1.5 billion, primarily for Drilling, and Engineering and Construction (E&C) assets. In addition, the Group has declared a special dividend of 0.5 sen per share.

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.

Sapura Energy Berhad (Sapura Energy) won Company of the Year for the Energy Services, Offshore and Marine category at the Asia Pacific (APAC) Energy Awards by Energy Council, against strong competition from leading global industry players.

Shareholders of Sapura Energy Berhad (Sapura Energy) overwhelmingly supported the proposed 50:50 strategic partnership with Austria’s OMV Aktiengesellschaft (OMV AG) at the Extraordinary General Meeting today. The 99.98 per cent approval from shareholders today gives certainty to the completion of the transaction.

Sapura Energy Berhad (Sapura Energy) has successfully raised approximately RM4 billion from its rights issue exercise which closed on 16 January 2019. The Group received 8,138,379,841 of valid acceptances and excess applications for its rights shares with warrants, representing a subscription rate of 81.5 per cent. For its Islamic redeemable convertible preference shares (RCPS-i), the Group saw just above 100 per cent of valid acceptances and excess applications.