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Sapura Kencana to set up Brunei jvSapura Kencana to set up Brunei jv

Wading into the potentially lucrative but tricky Brunei market, Malaysian offshore oil and gas service provider SapuraKencana Petroleum (SapKencana) is planning a joint-venture (JV) company with Euthalia Energy Solutions.

Vincent Wee, Hong Kong and South East Asia Correspondent

August 4, 2015

1 Min Read
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The tie-up will be through its Brunei unit, SapuraKencana (B) Sdn Bhd (SapKen Brunei), taking a 70% stake for BND700,000  ($507,469) with Euthalia Energy Solutions taking the remainder.

The joint venture company, RSK Petroleum, will be to explore opportunities in Brunei, the company said in a stock market announcement.

“The purpose of the jv 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,” SapKencana said.

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Malaysia

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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