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.