Reference is made to the earlier announcements of SEB, SapuraCrest Petroleum Berhad and Kencana Petroleum Berhad dated 31 January 2011, 7 February 2011, 8 February 2011, 15 February 2012, 20 February 2012, 30 November 2012 and 11 July 2016. Unless otherwise stated, all abbreviations used in this announcement shall have the same meanings as those defined in the earlier announcements.
The Board of Directors of SEB wishes to announce that Berantai Floating Production Limited, the joint venture company owned by Sapura Energy Ventures Sdn Bhd, Sapura Petroleum Ventures Sdn Bhd (formerly known as SapuraKencana Petroleum Ventures Sdn Bhd), both wholly-owned subsidiaries of SEB, together with Petrofirst Infrastructure Limited, which was principally involved in the business of leasing of FPSO Berantai to Berantai Risk Service Contract, was dissolved on 14 May 2017 pursuant to the Labuan Companies Act 1990 ("Dissolution").
The Dissolution will not have any material effect on the earnings or net assets of SEB Group for the financial year ending 31 January 2018.
None of the Directors and/or major shareholders of SEB and/or persons connected with them have any interest, direct or indirect, in the Dissolution.
This announcement is dated 18 May 2017.