The Board of Directors of SapuraKencana Petroleum Berhad (the “Company” or “SKPB”) wishes to announce that the Company had, on 1 April 2013, incorporated a new wholly-owned subsidiary in Labuan known as SapuraKencana Drilling Pte Ltd (“SK Drilling”).  

The issued and paid-up share capital of SK Drilling is United States Dollar One Hundred (USD100.00) divided into One Hundred (100) ordinary shares of United States Dollar One (USD1.00) each.

SK Drilling is expected to be utilised in furtherance to the future strategic plans of the Company.

The incorporation of SK Drilling is not expected to have any material effect on SKPB group’s earnings and net assets for the financial year ending 31 January 2014.

None of the Directors and/or major shareholders of the Company or persons connected with them have any interest, direct or indirect, in the above incorporation of SK Drilling.

This announcement is dated 3 April 2013.