Rafizi’s day in court will put Sapura Energy under scrutiny

August 8, 2022

Dateline 2022-06-05, FMT:

Former Sapura Energy Berhad CEO Shahril Shamsuddin, upset with remarks by Rafizi Ramli, has taken the former Pandan MP to court.

Rafizi had issued the statements because he disagreed with Najib Razak’s suggestion on March 21 that the government inject funds to save Sapura Energy.

He said he would defend his remarks about Shahril’s remuneration in court, adding that what he had said was to “protect public interest”.

Gas Production Commences at B15 Field Offshore Sarawak

May 26, 2018

Dateline 2018-03-22, Rigzone:

Sapura Exploration and Production (Sarawak) Inc. (Sapura E&P) announced Thursday that it has commenced gas production at the B15 field, located within the SK310 production sharing contract (PSC) area offshore Sarawak in East Malaysia. Output figures for the field were not revealed.

Discovered in December 2010, the B15 gas field achieved the milestone within two years of the sanction of its field development plan.

The B15 development comprises a processing platform with a 21-mile pipeline tied into existing infrastructure for onwards transmission into the Malaysia Liquefied Natural Gas (MLNG) complex at Bintulu, Sarawak.

“This milestone achievement at B15 was achieved on schedule and within budget,” Tan Sri Dato’ Seri Shahril Shamsuddin, president and group CEO of Sapura Energy Berhad, which owns Sapura E&P, said in a company statement.

Malaysia’s Sapura Energy says interest in upstream projects picking up

June 12, 2017

Dateline 2017-05-08, Reuters:

Sapura Energy Berhad , Malaysia’s largest oil and gas service provider, said it was beginning to see interest building in upstream projects following sharp rollbacks in recent years from lower oil prices.

“Projects that were on hold before are starting to be looked at again (globally),” Sapura Chief Executive Shahril Shamsuddin told Reuters on the sidelines of the Asia Oil & Gas Conference in Kuala Lumpur.

“It’s going to take time for the decisions to come through. It would take about 10-15 months before we could see projects come online again,” he said.

Shahril attributed the increase in interest to the recovery in oil prices and the need to replenish a natural drop in reserves.

Brent crude prices have recovered about 80 percent from 12-year lows hit early in 2016, although they are still at less than half the levels of mid-2014 due to a supply glut, and retreated back below $50 at the end of last week.


SapuraKencana predicts oil price will take two years to recover

February 9, 2016

On hindsight, maybe SK needs to consider that ‘Winter has Come‘, and will be longer that forecast.

Dateline 2015-01-04, Financial Times:

One of Asia’s leading oilfield services groups has warned it expects crude prices to stay at sharply lower levels for up to two years.

Shahril Shamsuddin, chief executive of Kuala Lumpur-based SapuraKencana, also said the energy industry slump was hitting the order books of Malaysia’s fabrication yards, as new projects worth billions of dollars were shelved.

SapuraKencana supplies some of the world’s largest oil exploration and production groups, and Mr Shamsuddin said the supermajors had embarked on a relentless round of cost-cutting to protect dividend payouts, in a downturn that could prove to be worse than that of the 1980s.