KUALA LUMPUR (March 22): SAPURACREST PETROLEUM BHD [] is looking to expand its operation in Brazil's oil and gas services industry via its joint venture with Seadrill Ltd, said its group's chief executive Datuk Shahril Shamsudin.
SapuraCrest, which is in a merger deal with KENCANA PETROLEUM BHD [], had on Thursday received its shareholders approval for a joint venture with Seadrill.
The JV agreement with Seadrill was in relation to the contract to charter and operate three units of pipe laying support vessels by Petroleo Brasileiro (Petrobras) worth US$1.4 billion.
Shahril said on Thursday that with the JV formalised, SapuraCrest would be looking to expand its operation in Brazil's oil and gas services industry, as the nation is investing a lot to make the country's oil and gas industry "as effective as we have here in Malaysia".
"We are looking forward for another bid in Brazil, together with the same partner," he told reporters after the EGM at Sapura's headquarters in Seri Kembangan.
Shahril said currently, the group has put in about RM5 billion of bids.
He expected the merger with Kencana would increase the group's capability and balance sheet capacity to take on more challenging jobs such as the development of marginal oil fields.
SapuraCrest, which is in a merger deal with KENCANA PETROLEUM BHD [], had on Thursday received its shareholders approval for a joint venture with Seadrill.
The JV agreement with Seadrill was in relation to the contract to charter and operate three units of pipe laying support vessels by Petroleo Brasileiro (Petrobras) worth US$1.4 billion.
Shahril said on Thursday that with the JV formalised, SapuraCrest would be looking to expand its operation in Brazil's oil and gas services industry, as the nation is investing a lot to make the country's oil and gas industry "as effective as we have here in Malaysia".
"We are looking forward for another bid in Brazil, together with the same partner," he told reporters after the EGM at Sapura's headquarters in Seri Kembangan.
Shahril said currently, the group has put in about RM5 billion of bids.
He expected the merger with Kencana would increase the group's capability and balance sheet capacity to take on more challenging jobs such as the development of marginal oil fields.
