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Sapura Energy strikes a good cash deal

Jose Barrock & 
Kathy Fong
Jose Barrock & 
Kathy Fong9/24/2018 07:30 AM GMT+08  • 8 min read
Sapura Energy strikes a good cash deal
SINGAPORE (Sept 24): President and CEO of Sapura Energy Shahril Shamsuddin was visibly pleased when The Edge met him recently. His enthusiasm is understandable.
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SINGAPORE (Sept 24): President and CEO of Sapura Energy Shahril Shamsuddin was visibly pleased when The Edge met him recently. His enthusiasm is understandable.

The oil and gas services provider, in which Shahril has 16.8% equity interest, had just announced that Austrian oil and gas giant OMV Aktiengesellschaft was seeking to acquire a 50% stake in the group’s upstream assets housed under Sapura Upstream (previously known as Sapura Exploration and Production).

The parties have signed a heads of agreement and are ironing out the details.

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