SapuraKencana To Explore Business Opportunities In Brunei

KUALA LUMPUR, Aug 4 (Bernama) -- SapuraKencana (B) Sdn Bhd (SapuraKencana Brunei), a unit of SapuraKencana Petroleum Bhd, is establishing a joint venture (JV) to explore business opportunities in Brunei Darussalam. In a filing with Bursa Malaysia (Malaysia's Stock Exchange) on Monday, the integrated oil and gas company said it had entered into a shareholders agreement (SA) with Euthalia Energy Solutions Sdn Bhd and RSK Petroleum Sdn Bhd, which will be the JV company. "The purpose of RSK Petroleum is to identify potential business opportunities, investments, JVs, business combinations or other transactions in Brunei with respect to works and services in the oil and gas industry. "Under the SA, SapuraKencana Brunei will own a 70 per cent stake in RSK while Euthalia will own the remaining 30 per cent," it said, adding the SA would be effective by Aug 31, 2015. SapuraKencana Petroleum Bhd is a full-fledged upstream player and one of the world's largest integrated oil and gas services and solutions providers. --BERNAMA