Bursa 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 (“SEB”) wishes to clarify a media report mentioning that Seadrill Limited's Chapter 11 filing of its Asian units (“Seadrill Asian’s Chapter 11 Filing”) may affect SEB’s joint venture business with Seadrill in Brazil (“SEB’s Brazil JV Business”).

 

SEB wishes to clarify that Seadrill Asian’s Chapter 11 Filing does not affect SEB’s Brazil JV Business.

 

The Seadrill’s wholly owned subsidiaries involved in the Seadrill Asian’s Chapter 11 Filing are not entities involved or related to the corporate structure of SEB’s Brazil JV Business.

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

 

In relation to existing financing arrangements for SEB’s Brazil JV Business (“Brazil JV Business Financing”), the Seadrill Asian’s Chapter 11 Filing does not affect or trigger any cross default under the Brazil JV Business Financing.

 

SEB therefore wishes to clarify that Seadrill Asian’s Chapter 11 Filing will not have any financial impact on SEB’s 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


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