Announcements


Date : 09 February 2021

OTHERS SAPURA ENERGY BERHAD - CLARIFICATION IN RESPONSE TO NEWS ARTICLE ON SEADRILL CHAPTER 11

SAPURA ENERGY BERHAD

Type Announcement
Subject OTHERS
Description
SAPURA ENERGY BERHAD - CLARIFICATION IN RESPONSE TO NEWS ARTICLE ON SEADRILL CHAPTER 11

Sapura Energy Berhad (ďSEBĒ) wishes to clarify a media report mentioning that Seadrill Limited's Chapter 11 filing of its Asian units (ďSeadrill Asianís Chapter 11 FilingĒ) may affect SEBís joint venture business with Seadrill in Brazil (ďSEBís Brazil JV BusinessĒ).

 

SEB wishes to clarify that Seadrill Asianís Chapter 11 Filing does not affect SEBís Brazil JV Business.

 

The Seadrillís wholly owned subsidiaries involved in the Seadrill Asianís Chapter 11 Filing are not entities involved or related to the corporate structure of SEBís Brazil JV Business.

Seadrill Asianís Chapter 11 Filing does not have any effect on the contracts with Petrobras in Brazil which forms the main revenue for SEBís Brazil JV Business.

 

In relation to existing financing arrangements for SEBís Brazil JV Business (ďBrazil JV Business FinancingĒ), the Seadrill Asianís Chapter 11 Filing does not affect or trigger any cross default under the Brazil JV Business Financing.

 

SEB therefore wishes to clarify that Seadrill Asianís Chapter 11 Filing will not have any financial impact on SEBís business plans and financials. 

 

We also attach herewith a press release dated 9 February 2021 titled, "Clarification regarding Sapura Energy's Joint Venture with Seadrill".

 

This announcement is dated 9 February 2021.




Please refer attachment below.



Announcement Info

Company Name SAPURA ENERGY BERHAD
Stock Name SAPNRG
Date Announced 09 Feb 2021
Category General Announcement for PLC
Reference Number GA1-09022021-00137



Back