‘SAPURA ENERGY TO GAIN NZ EXPERTISE’
Firm’s projects will also fuel Malaysia-NZ trade growth, says chamber of commerce
SAPURA Energy Bhd’s foray into New Zealand earlier this year could be the catalyst not just for economic growth but also for technical collaboration.
The Malaysian New Zealand Chamber of Commerce (MNZCC) said the areas that could benefit both countries included technical training, skills development safety and environment.
MNZCC chairman Bruce Hope said prominent Malaysian oil and gas players such as Sapura Energy could gain from New Zealand’s technical expertise and technology.
“New Zealand is a global leader in safety and environment. We have pioneered the use of virtual reality in technical training. We would like to see more Malaysians conduct this training,” he said in a statement.
MNZCC promotes bilateral trade, services and investment between Malaysia and New Zealand.
Hope said both countries should look forward to increased trade growth from Sapura Energy projects.
Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin was equally optimistic about the company’s presence in New Zealand.
“We are excited about our entry into New Zealand, which may open up opportunities in a proven area for Sapura,” said Shahril after the deal was announced earlier this year.
“This is a strategic entry for Sapura Energy’s exploration and production segment. The joint venture will see Sapura utilising its sub-surface technical expertise to support exploration activities.”
In March, Sapura Energy entered the New Zealand market with several offshore exploration permits for the prolific Taranaki basin.
Sapura Energy signed farm-in agreements with OMV New Zealand Ltd and Mitsui E&P Australia for five offshore permits — PEP 57075, PEP 51906, PEP 60091, PEP 60092 and PEP 60093.
The deal provides Sapura Energy access to more than 8,900 square kilometres of oil and gas region.
The participating interests of PEP 57075 and PEP 51906 are held by Sapura Energy (30 per cent) and OMV (70 per cent) while participating interests of PEP 60091, PEP 60092 and PEP 60093 are held by Sapura Energy (30 per cent), OMV (40 per cent) and Mitsui (30 per cent).
All five exploration permits are operated by OMV.