SapuraCrest Kencana seeks global partners

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SapuraCrest Kencana Petroleum BhdSapuraCrest Kencana Petroleum Bhd, the outcome of a union between Malaysia’s two largest oil and gas entities, is all geared for partnerships with global O&G service providers.

It is all set to join the league as a global player once the merger of SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd is complete come the first phase of 2012.

With the marriage, SapuraCrest Kencana will be among the top five O&G service providers in the world along with Italy’s Saipem, France’s Technip and the U.S’s McDermott’s International Inc., said SapuraCrest’s executive Vice Chairman and President Datuk Seri Shahril Shamsuddin.

He added that strategic alliances from the players will come in handy as oil prices will continue to drive O&G activities worldwide, of which will need to be executed on a fast-track basis.

Datuk Mokhzani Mahathir, CEO of Kencana, said that the merger would put the new company in a favourable position to win more jobs.

“With a combined balance sheet, the firms are in a better place to face the financial risks.”

Shahril and Mokhzani will head SapuraCrest Kencana as group president/CEO and Executive Vice-Chairman, respectively.

 

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SapuraCrest Kencana Petroleum Bhd, the outcome of a union between Malaysia’s two largest oil and gas entities, is all geared for partnerships with global O&G service providers. It is all set to join the league as a global player once the merger of SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd is complete come the first phase of 2012. With the marriage, SapuraCrest Kencana will be among the top five O&G service providers in the world along with Italy’s Saipem, France’s Technip and the U.S’s McDermott’s International Inc., said SapuraCrest’s executive Vice Chairman and President Datuk Seri Shahril Shamsuddin. He added...

Reading Time: 1 minute

SapuraCrest Kencana Petroleum BhdSapuraCrest Kencana Petroleum Bhd, the outcome of a union between Malaysia’s two largest oil and gas entities, is all geared for partnerships with global O&G service providers.

It is all set to join the league as a global player once the merger of SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd is complete come the first phase of 2012.

With the marriage, SapuraCrest Kencana will be among the top five O&G service providers in the world along with Italy’s Saipem, France’s Technip and the U.S’s McDermott’s International Inc., said SapuraCrest’s executive Vice Chairman and President Datuk Seri Shahril Shamsuddin.

He added that strategic alliances from the players will come in handy as oil prices will continue to drive O&G activities worldwide, of which will need to be executed on a fast-track basis.

Datuk Mokhzani Mahathir, CEO of Kencana, said that the merger would put the new company in a favourable position to win more jobs.

“With a combined balance sheet, the firms are in a better place to face the financial risks.”

Shahril and Mokhzani will head SapuraCrest Kencana as group president/CEO and Executive Vice-Chairman, respectively.

 

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