Dateline 2012-05-18:
The listing of SapuraKencana Petroleum Bhd (SapuraKencana) on the Main Market of Bursa Malaysia signifies the successful conclusion of the massive RM11.85 billion merger exercise of two Malaysian oil and gas (O&G) powerhouses, SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd.
According to the company, the merger was initiated in July last year. The merger created Malaysia’s largest O&G service provider, which also ranked among the top five O&G service companies in the world by asset value.
SapuraKencana’s chairman Datuk Hamzah Bakar said, “The O&G industry is now looking for turnkey service providers that can manage complex tasks end to end. Our new, enhanced position backed by a full suite of services and a solid international track record places us in good stead to expand our global footprint while tapping opportunities locally.”
…
Wata - Malaysian Oil and Gas Engineer 