INTRODUCTION

The Board of Directors of SapuraKencana Petroleum Berhad (“SKPB” or “Company”) (“Board”) wishes to announce that the Company had on the following dates acquired/incorporated new wholly-owned subsidiaries:

A) SAPURAKENCANA ENERGY SDN BHD (“SK Energy”)
SK Energy, a private limited company incorporated under the laws of Malaysia, was acquired on 21 January 2014 . The authorised and paid-up share capital of SK Energy are RM400,000 and RM2.00, respectively.

B) SAPURAKENCANA ENERGY INC. (“SK Energy Inc.”)
SK Energy Inc, a private limited company incorporated under the laws of the Commonwealth of the Bahamas, was acquired on 22 January 2014. The authorised and paid-up share capital of SK Energy Inc. are USD5,000 and USD1.00 each, respectively. SK Energy Inc. is the wholly-owned subsidiary of SK Energy.

C) SAPURAKENCANA ENERGY RESOURCES LTD (“SK Energy Resources”)
SK Energy Resources, a private limited company was incorporated in Bermuda on 21 January 2014. The authorised and paid-up share capital of SK Energy Resources are USD100 and USD1.00, respectively.

SK Energy, SK Energy Inc and SK Energy Resources will be utilised in furtherance to the future strategic plans of the Company.

FINANCIAL EFFECTS

The setting-up of SK Energy, SK Energy Inc. and SK Energy Resources are not expected to have any material effect on SKPB group’s earnings and net assets for the financial year ending 31 January 2014.

DIRECTORS AND MAJOR SHAREHOLDERS’ INTEREST

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 acquisitions and incorporation.

This announcement is dated 23 January 2014.