New joint venture will explore oil and gas projects in Brunei

New joint venture will explore oil and gas projects in Brunei

SapuraKencana Brunei, part of Malaysia-listed SapuraKencana Petroleum, has agreed with investment holding company Euthalia Energy Solutions and RSK Petroleum to explore and develop oil and gas projects in Brunei.

SapuraKencana Brunei has signed a shareholders’ agreement with Euthalia to form a joint-venture (JV) company, in which the two parties will have 70% (700,000 shares) and 30% (300,000 shares) ownership respectively.

The JV company was incorporated under the laws of Darussalam, Brunei on February 2, 2013. The shareholders’ agreement is expected to be effective before August 31.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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