Merger created biggest local O&G company

KUALA LUMPUR: SapuraKencana Petroleum Bhd was listed on the main market of Bursa Malaysia on May 17, 2012, creating the country’s largest integrated oil and gas (O&G) service provider by assets.

The merged entity was the result of a massive RM11.85bil merger exercise of two of the country’s pro­minent O&G players – SapuraCrest Petroleum Bhd and Kencana Petro­leum Bhd – that placed it among the world’s top five O&G players alongside Italy’s Saipem, France’s Technip and the US McDermott’s Interna­tional Inc.