SapuraKencana Completes Purchase of Newfield’s Upstream Assets in Malaysia


Yea?

Dateline 2014-02-11, Rigzone:

SapuraKencana Petroleum Berhad, Malaysia’s oil and gas services and solutions provider, announced Tuesday that the company has successfully completed the Share Purchase Agreement (SPA) for the acquisition of Newfield International Holdings Inc.’s entire equity interest in Newfield Malaysia Holding Inc. for $895.9 million.

The acquisition cost is below the $898 million purchase price previously reported as the price was subjected to adjustments as set out in the SPA, SapuraKencana said in a press release.

Following completion of the acquisition, SapuraKencana Energy Inc. (SKEI), a newly incorporated wholly owned upstream subsidiary of SapuraKencana, now holds equity interest in 8 Production Sharing Contracts (PSCs) and one alliance contract in Peninsular Malaysia, Sabah and Sarawak.

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