INTRODUCTION

The Board of Directors of SapuraKencana Petroleum Berhad (the “Company” or “SKPB”) wishes to announce that Sapura Petroleum Sdn Bhd, a wholly-owned subsidiary of SKPB incorporated in Malaysia had on 7 January 2014 incorporated a wholly-owned 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 each.

SK Dubai will be utilised in furtherance to the future strategic plans of the Company.

 
FINANCIAL EFFECTS

The incorporation of SK Dubai is 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 incorporation.

This announcement is dated 21 January 2014.