SapuraCrest Petroleum to open office in Jakarta

SapuraCrest Petroleum Bhd, a member of Sapura group, plans to open office in Jakarta in the middle of January 2012. The move is in line with the company?s strategy to expand its business in the country.

?God willing, we will open our office in Jakarta in the middle of January,? Azlan Asidin, Executive Director for Business Development of Sapura group of companies told Petromindo.com on the sideline of Deepwater Asia Pacific 2011 conference in Hanoi, Vietnam today.

He said SapuraCrest presence in Indonesia will be represented by its subsidiary Sapura Energy.

SapuraCrest Petroleum is a fast-growing oil and gas contracting company in Malaysia and is looking for expanding its operation regionally and globally.

Early this month, SapuraCrest surprised global oil and gas industry players after winning a contract for pipe-laying and installation for deepwater project owned by Brazil?s Petrobas worth US$1.4 billion. It edged out the giants and traditional players in deepwater projects such as Saipem SpA, a unit of Italian energy giant Eni SpA; France-based Technip SA; London-based Subsea 7 S.A.; and Houston-based McDermott International Inc.

As of November 14, 2011, the company has market capitalization of $1.66 billion and order book of $2.9 billion. (roffie)