Sapura Energy Berhad announced that its wholly owned subsidiary, Sapura Upstream Assets , has completed the sale of its 50 percent equity interest in SapuraOMV Upstream to TotalEnergy Holdings SAS (“TotalEnergies”).
The completion of this divestment marks a key milestone in the Company’s broader Reset plan for the long-term sustainable and viable future of Sapura Energy Group.
SapuraOMV’s assets include a 40 percent operated interest in block SK408 and a 30 percent operated interest in block SK310, both situated offshore Sarawak, Malaysia. The Jerun gas field, located within the SK408 block, achieved its first gas on 1 July 2024 ahead of schedule and within budget, with 12.8 million safe manhours. SapuraOMV also holds exploration licenses across strategic regions, including Malaysia, Australia, New Zealand, and Mexico.
“This strategic initiative underscores our commitment to Sapura Energy’s long-term Reset and debt restructuring plan; this divestment streamlines our portfolio and enables us to focus on our core capabilities, namely to deliver safe and innovative solutions to the energy industry,” said Sapura Energy Interim Chairman Shahin Farouque Jammal Ahmad.
source: cyprusshippingnews.com
