INTRODUCTION

The Board of Directors of SapuraKencana Petroleum Berhad (“SKPB” or the “Company”) wishes to announce that TL Offshore Sdn Bhd, a wholly-owned subsidiary of the Company, had on 5 March 2014 incorporated three wholly-owned subsidiaries in Bermuda known as SapuraKencana 1200 Ltd (“SK1200”), SapuraKencana 3500 Ltd (“SK3500”) and SapuraKencana FLB-1 Ltd (“SKFLB”) (collectively the “Bermudan Incorporated Companies”). The share capital of the three Bermudan Incorporated Companies consists of 100 common shares of a par value of USD1.00 each, respectively.

The Bermudan Incorporated Companies will be utilised in furtherance to the future strategic plans of the Company.
 

FINANCIAL EFFECTS

The incorporation of the Bermudan Incorporated Companies are not expected to have any material effect on SKPB group’s earnings and net assets for the financial year ending 31 January 2015.

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 11 March 2014.