The making of Sapura Kencana Petroleum

The creation of an oil and gas giant hasbegun. SapuraCrest Petroleum Bhd and Kencana Petroleum Bhd will be going through an RM11.85bil merger exercise to create the largest oil service provider by assets in the country - soon to be known as Sapura Kencana Petroleum Bhd.

For now, under a cash and share swap deal, a special purpose vehicle called Integral Key Sdn Bhd would be buying all the assets and liabilities of SapuraCrest for RM5.87bil and Kencana for RM5.98bil.