Sapura Energy discovers ninth gas discovery offshore Sarawak

August 14, 2018

Dateline 2018-06-11, NST:

 Sapura Energy Bhd’s subsidiary Sapura Exploration and Production (Sarawak) Inc (Sapura E&P), together with its partners Sarawak Shell Bhd and Petronas Carigali Sdn Bhd, has discovered its ninth gas exploration well in offshore Bintulu, Sarawak.

The discovery followed the completion of its 2017 drilling campaign within the SK408 Production Sharing Contract (PSC).

In an exchange filing today, the Pepulut-1 exploration well was drilled and encountered high quality reservoir, which is located in Block SK408.

“This successful gas discovery is attributed to the strength and capabilities of our exploration, subsurface and drilling teams whose combined expertise has resulted in a number of significant discoveries.

“This series of successful results is founded on our work in understanding the geologic fundamentals of the region” said its president & group chief executive officer Tan Sri Shahril Shamsuddin.


Ninth gas discovery offshore Sarawak will enhance SK408’s viability

July 17, 2018

Dateline 2018-06-13, Borneo Post:

Sapura Energy Bhd (Sapura Energy) and partners Sarawak Shell Bhd (Sarawak Shell) and Petronas Carigali Sdn Bhd’s (Petronas Carigali) ninth gas discovery offshore Sarawak is expected by analysts to further enhance the viability of the SK408 project cluster by leveraging on the common infrastructure, pipelines and facilities .

In a filing on Bursa Malaysia, Sapura Energy through wholly-owned subsidiary, Sapura Exploration and Production (Sarawak) Inc (Sapura E&P) and the group’s partners Sarawak Shell and Petronas Carigal announced its ninth gas discovery offshore Sarawak, following the completion of its 2017 drilling campaign within the SK408 Production Sharing Contract (PSC).

Sapura Energy announced that the Pepulut-1 exploration well located offshore Bintulu, Sarawak in Block SK408 was drilled and encountered high quality reservoir.

 


Oil and gas companies not looking fine with Q1 results

July 7, 2018

Apologies for focussing on market news, its a slow news cycle.

Dateline 2018-05-31, NST:

 The oil and gas companies under Kenanga Research’s coverage are likely to see deteriorating performance with lower number of outperformers.

Kenanga Research said only two out of seven companies that released their latest interim results had outperformed. They were Dialog Group Bhd and Sapura Energy Bhd.

Another company in the firm’s universe is Bumi Armada Bhd, which is due to release its first quarter results today.

“The disappointment ratio was also higher at 31 per cent (assuming Bumi Armada’s results came within expectations) versus 13 per cent in the fourth quarter of 2017 even with the anticipation of first quarter being a seasonally weak quarter,” Kenanga Research said today.

It noted that upstream services players such as Alam Maritim Resources Bhd, Coastal Contracts Bhd and Dayang Enterprise Holdings Bhd had missed expectations due to stubborn fixed costs amidst unsatisfactory vessel utilisation.

Gas Malaysia Bhd and Petronas Dagangan Bhd also had a soft start dragged by higher product costs and sliding sales volume.


Sapura Energy finally gets go-ahead for Sarawak gas fields

June 3, 2018

Dateline 2018-04-12, The Edge:

The long-awaited go-ahead for the development of three gas fields off Sarawak provided a huge boost to flagging Sapura Energy Bhd, with its market capitalisation boosted by more than half a billion ringgit as its share price rallied sharply yesterday.

Sapura Energy logged its largest single-day price gain since its listing six years ago to finish a fifth higher to 64.5 sen after it announced it was proceeding with the development of the Gorek, Larak and Bakong gas fields off Sarawak under phase one of the SK408 production sharing contract (PSC).

The PSC follows a final investment decision (FID) made after the fields development plan received Petroliam Nasional Bhd’s approval. Concurrently, the key terms of the gas sales agreement for the gas fields’ development have been agreed upon.


Sapura Energy bags contract from Mudabala Petroleum

May 25, 2018

Dateline 2018-03-21, NST:

Sapura Energy Bhd secured a contract from Mubadala Petroleum to undertake engineering, procurement, construction, installation and commissioning (EPCIC) works for the Pegaga gas development field in Block SK320, offshore Sarawak.

The contract was awarded to its wholly owned subsidiary, Sapura Fabrication Sdn Bhd by Mubadala Petroleum following the Final Investment Decision by Mubadala Petroleum and its partners Petronas Carigali Sdn Bhd (PCSB) and Sarawak Shell Bhd.

“This is our sixth contract win since the beginning of the year. It’s a good start for us. We are proud to be working with a highly respected company such as Mubadala Petroleum and supporting its first development in Malaysia,” said Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin.

Sapura Energy views the increased capital spending by oil and gas firms is an indication that the industry is making a gradual shift towards better times amidst renewed optimism.


Malaysia’s SEEP expects first gas from Sarawak field in Q3 2020

November 26, 2017

Dateline 2017-10-03, Interfax:

(you can find the article via the link).

 


SapuraEnergy: B15 offshore field on track for first gas in 4Q 2017

August 25, 2017

Dateline 2017-07-27, Upstreamonline:

Malaysia’s Sapura Energy, formerly known as Sapura Kencana, is working towards bringing online its offshore gas field in East Malaysia.

The company on Monday said the SK 310 B15 field development was on track, with first gas expected in the fourth quarter of 2017, in line with its previous statements.

SapuraKencana’s subsidiary, SapuraKencana Energy Sarawak (SKE), is the operator of Block SK310 PSC which was awarded by Petronas on June 17, 2008.

SapuraEnergy is the operator of the SK310 PSC with a 30% participating interest and partners Petronas Carigali with 40% and Diamond Energy Sarawak, a subsidiary of Mitsubishi Corporation with 30%.