The Board of Directors of SapuraKencana Petroleum Berhad ("SKPB") is pleased to announce that its wholly-owned subsidiary, SapuraKencana Energy Inc (“SKE”), has secured a Field Development Plan ("FDP") approval from PETRONAS for the SK310 B15 gas field development project ("Project"). With this approval, SKE will commence the development phase for this Project and the first gas delivery is targeted for the fourth quarter of 2017.

The B15 field which was discovered in December 2010 is located within the SK310 Production Sharing Contract ("PSC") area, offshore East Malaysia. The development will comprise a central processing platform with a 35-km gas evacuation pipeline to be tied into the existing infrastructure. The B15 field is expected to produce 100 MMscfd (million standard cubic feet per day) of hydrocarbon gas for PETRONAS’ LNG complex in Bintulu, Sarawak.

SKE via SapuraKencana Energy Sarawak Inc. is the Operator of the SK310 PSC with a 30% participating  interest and partners with PETRONAS Carigali Sdn. Bhd. at 40% and Diamond Energy Sarawak Sdn. Bhd., a subsidiary of Mitsubishi Corporation at 30%.

This announcement is dated 4 November 2015.