SAPURA ENERGY UNIT VENTURES AUSTRALIA | UPSTREAM BUSINESS

UPSTREAM BUSINESS TO SAPURA ENERGY UNIT VENTURES AUSTRALIA SAID BY SHAHRIL

KUALA LUMPUR: Sapura Energy Bhd’s entirely claimed auxiliary, Sapura Upstream Sdn Bhd, is making its maiden foray into Australia by consenting to farm-in agreements to gain three offshore investigation grants held by Finder Exploration Pty Ltd.

Following the marking with the Australia-based private oil and gas (O&G) organization, and subject to securing regulatory approvals, Sapura Upstream would get a 70 percent interest for blocks within productive North West Shelf O&G territory off Western Australia and expect operatorship.

In an announcement, Sapura Energy President and Group Chief Executive Officer Tan Sri ShahrilShamsuddin said the section into Australia denoted another noteworthy achievement for the upstream business to seek after development in accordance with the group’s methodology to extend portfolio and acreage position.

“Our joint venture with Finder is an exhibition of the trust and acknowledgment for both our shallow and profound water abilities, technical skills, and geological expertise,” he included.

Sapura Upstream’s interests will be in blocks EP 483 and TP/25, WA-412-P and AC/P 61. Discoverer will hold the rest of the 30 percent interest for the permits.

Source:https://www.nst.com.my/business/2018/09/408276/sapura-energys-unit-ventures-australia

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