INTRODUCTION
SapuraKencana Petroleum Berhad ("SapuraKencana" or the "Company") is
pleased to announce that SapuraAcergy Sdn Bhd ("SASB") has been awarded a contract for the
charter of a vessel, Sapura 3000 ("Sapura 3000" or the "Vessel") to Construcciones Maritimas Mexicanas S.A. de C.V.
(the "Award").
SASB is a joint-venture company equally owned by
SapuraKencana and Subsea 7 S.A.
INFORMATION ON THE
AWARD
The Award comprises provision of Sapura
3000 to undertake heavy lifts in the Gulf of Mexico region. The charter
commenced on 18 August 2012 for a duration of 125 days ("Charter
Period").
FINANCIAL EFFECTS
The Award, which is valued at
approximately USD45.0 million, is expected to
contribute positively towards the earnings and net assets per share of
SapuraKencana Group for the financial year ending 31 January
2013.
RISK FACTORS
Risk factors for this type of charter
arrangement are limited and are mainly associated with the full functionality of
the Vessel during the Charter Period. SapuraKencana Group has built a wealth of
expertise to undertake such projects and has measures put in place to ensure
that the Vessel and equipment are fully functioning and well
maintained.
DIRECTORS AND MAJOR SHAREHOLDERS'
INTEREST
None of the Directors and/or major
shareholders and/or persons connected with the Directors and/or major
shareholders of the Company has any direct or indirect interest in the
Award.
DIRECTORS'
STATEMENT
The Board of Directors of the Company is
of the opinion that the acceptance of the Award is in the best interest of the
Company.
This announcement is
dated 10 September 2012.