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Sapura Energy's NZ business to spur the latest collaboration, Business Insider


Oil & gas giant sees
technical advantages of the New Zealand project

Media OutReach – November 26
2018 –
Sapura Energy Bhd jumped in
New Zealand earlier this year could be a catalyst, not just for the economy
growth for the country, but also significant technical collaboration involving
Sapura Energy, one of the largest integrated oil & gas players in Indonesia

Malaysian New Zealand Room
Trade (MNZCC) acknowledges that this can be a good opportunity
so that both parties get benefits, especially in the field of technical training and
skills development.

Areas that might be interesting
including security and environment. New Zealand is well established
players in two very important aspects of this industry.

MNZCC Chair Bruce Hope
feel that Malaysian oil & gas players are leading like Sapura Energy
benefit from New Zealand's latest technical and technological expertise.

"New Zealand is a global leader
in security and environment. We have pioneered the use of virtual reality
(VR) in the field of technical training. We want to see more Malaysians
doing this training in New Zealand, "Hope said.

MZNCC promotes and fosters
bilateral trade, services and investment between Malaysia and New Zealand. Hope
added that the two countries should look forward to increasing trade growth from
Sapura Energy projects in this region for years to come.

President and Sapura Energy Group
CEO Tan Sri Shahril Shamsuddin was equally optimistic about the company
advance to the New Zealand market.

"We are very excited about our possible entry into New Zealand
open opportunities in areas that are proven for Sapura E & P, "Shahril said after
the agreement was announced earlier this year.

"This is strategic
entry for Sapura E & P and we will work with our partners to become adults
potential drilling location before making a good commitment. Joints
The business will see Sapura E & P utilizing its sub-surface technical expertise
to support exploration activities in this exploration area, "Shahril

In March this year, Sapura Exploration & Production
(Sapura E & P) enters the New Zealand market with some offshore
exploration permit in the productive Taranaki basin in the country, with
approval from the New Zealand government.

Sapura E & P is a wholly owned subsidiary of Sapura
Energy. It signed an agricultural agreement with OMV New Zealand and Mitsui E & P
Australia for five offshore permits. The agreement includes offshore exploration
enabling PEP 57075, PEP 51906, PEP 60091, PEP 60092 and PEP 60093.

All offshore exploration permits are located at
shallow waters inside fertile oil and gas areas in the Taranaki basin,
with the total volume found more than 2.5 billion barrels of oil
equivalent to date.

The agreement will provide Sapura Energy with access to
footprint of more than 8900 square kilometers. Interests participating from
PEP 57075 and PEP 51906 are held by Sapura E & P (30%) and OMV (70%) while
the participation of the interests of PEP 60091, PEP 60092 and PEP 60093 is held by
Sapura E & P (30%), OMV New Zealand Limited (40%) and Mitsui (30%). Fifth
exploration permit will be operated by OMV.

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