SapuraKencana Establishes Subsidiary in UAE
Malaysia’s largest oilfield services provider, SapuraKencana has established a new subsidiary in the United Arab Emirates.
In a filing to Bursa Malaysia, the company said that its wholly-owned subsidiary Sapura Petroleum Sdn Bhd had on 7 January 2014 incorporated the new subsidiary in United Arab Emirates known as SapuraKencana Oil & Gas DMCC (“SK Dubai”). The share capital of SK Dubai consists of 300 shares of a par value of AED1,000.00 ($272) each.
“SK Dubai will be utilised in furtherance to the future strategic plans of the Company,” said SapuraKencana in a statement.
Asked by Offshore Energy Today to provide more information on the new subsidiary and its scope of work, SapuraKencana’s spokesperson said it did not have further information for the time being.
Offshore Energy Today Staff, January 22, 2014; Image:htmnet.fiu.edu