Annual Reports 2018 Annual Reports 2018

250 Pages·2017·5.55 MB·English

SAPURA ENERGY BERHAD ANNUAL REPORT 2018
01 02 03 04
AT A GLANCE CORPORATE LEADERSHIP MANAGEMENT
OVERVIEW DISCUSSION AND
ANALYSIS
Our Vision Corporate Information Board of Directors President and Group Chief
02 16 20 Executive Oicer’s Statement
40
Facts at a Glance Group Organisational Proile of Board of Directors
04 Structure 22 Strategic Review and Outlook
17 42
Global Footprint Executive Committee
06 Financial Calendar 32 Segmental Results
18 44
Health, Safety and Proile of Excecutive
Environment Committee 2018 Strategy at a Glance
08 34 49
5-Year Group Financial Key Risks to the Group
Summary 51
10 TABLE OF
Commitment to Sustainability
Chairman’s Statement 52
CONTENTS
12
Commitment to People
53
05 06 07 08
SUSTAINABILITY EVENTS CORPORATE FINANCIAL
REPORT GOVERNANCE STATEMENTS
Introduction Calendar of Events Corporate Governance Financial Statements
54 80 Overview Statement 107
85
President and Group Chief
09
Executive Oicer’s Message Statement on Risk
56 Management and Internal
Control ADDITIONAL
Sustainable Operations 99 INFORMATION
59
Report of Board Audit
Nurturing Talent and Committee
Developing Communities 101 Analysis of Shareholdings
62 237
Additional Compliance
Health, Safety and Information Notice of Annual
Environment 105 General Meeting
72 241
Statement of Directors’
Responsibility Statement Accompanying
106 Notice of Annual General
Meeting
243
Proxy Form
VISION
OUR
Our Vision is to be the best entrepreneurially-
led, technically competent and most trusted
global oil and gas company in the eyes of our
customers, shareholders and most importantly,
our empowered people. We will be guided by
our honesty, trust and respect for all. We will
achieve our business objectives by being safe,
agile and professional to continuously strive
to meet all of our stakeholders’ expectations.
The People of
SAPURA ENERGY BERHAD
02
CAPITALISING ON RESILIENCE
This year’s theme represents the journey
Sapura Energy Berhad has taken to
ensure that we are strategically positioned
and ready to capitalise on emerging
opportunities as gradual optimism returns
in the industry. We have leveraged on the
resilience of our people and the capabilities
of the Group to develop a stronger
foundation for recovery. The montage on
the cover is a dedication to our people for
their commitment throughout this journey.
SAPURA ENERGY DAY
WEDNESDAY
BERHAD
(950894-T) DATE
18 JULY 2018
7th
TIME
10.00 A.M.
VENUE
ANNUAL GRAND BALLROOM 1 & 2
LEVEL 3 (EAST WING)
GENERAL
KUALA LUMPUR CONVENTION CENTRE
MEETING KUALA LUMPUR CITY CENTRE
50088 KUALA LUMPUR
03
AE

T
AC

S
N
T
C
A
A
F
L
G
OUR
VALUE
CHAIN
EXPLORATION DEVELOPMENT
0044
ENGINEERING AND
CONSTRUCTION
• 2 Major Fabrication Yards • 1 Subsea Construction Vessel • 2 Anchor Handling Tug Supply Vessels
• 1 Minor Fabrication Yard • 42 Remotely Operated Vehicles • 1 Floatover Launch Barge
• 6 Derrick Lay Vessels • 3 Survey Vessels • 6 Accommodation Workboats/Barges
• 6 Pipelay Vessels • 3 Diving/Support Vessels
EXPLORATION AND
DRILLING
PRODUCTION
• 8 Tender Barge Rigs
• 7 Semi-Submersible Tender Rigs • Previously referred to as our Energy Segment
• Participating Interest in 8 Production
Sharing Contracts
PRODUCTION REJUVENATION DECOMMISSIONING
& ABANDONMENT
0055
THE GROUP’S
GLOBAL OUR LOCATIONS
FOOTPRINT
HOOK-UP &
COMMISSIONING
• This global footprint is based on the United Nations’ issued map. • The designations employed and the presentations of the material on this map do not imply the • Every efort is made to ensure this map is free of errors but there is no warranty that the map or its features
expression of any opinion whatsoever on the part of Sapura Energy Berhad or its subsidiaries (“the are either spatially or temporally accurate or it for a particular use. This map is provided without any
06 Group”) concerning the legal status of any country, territory, city or area or of its authorities, or warranty of any kind whatsoever, either expressed or implied.
concerning the delimitation of its frontiers or boundaries.
Southeast
A
si
a

GEOTECHNICAL/
OPERATIONS &
ENGINEERING GEOPHYSICAL FABRICATION
MAINTENANCE
SURVEY
INSTALLATION
MARINE, DIVING EXPLORATION &
OF PIPELINES & DRILLING
& ROV SERVICES PRODUCTION
FACILITIES
(Remotely Operated Vehicles)
• This global footprint is based on the United Nations’ issued map. • The designations employed and the presentations of the material on this map do not imply the • Every efort is made to ensure this map is free of errors but there is no warranty that the map or its features
expression of any opinion whatsoever on the part of Sapura Energy Berhad or its subsidiaries (“the are either spatially or temporally accurate or it for a particular use. This map is provided without any
Group”) concerning the legal status of any country, territory, city or area or of its authorities, or warranty of any kind whatsoever, either expressed or implied. 07
concerning the delimitation of its frontiers or boundaries.
01
A T A G L A N C E
HEALTH, SAFETY
AND ENVIRONMENT
High standards in Health, Safety and Environment
(“HSE”) remain a central governing part of our
operations at Sapura Energy Berhad (“Sapura Energy”)
and its subsidiaries (“the Group”). We remain deeply
committed to our Company’s vision of being safe, agile
and professional, which includes responsibly managing
risks within all aspects of our operations. We execute our
work with integrity, honesty and in partnership with all
stakeholders; focusing on the health and safety of our
employees and the protection of the environment in
which we operate.
Risks are to be expected in our industry. The Group has in place a robust and comprehensive risk management
system to identify, prevent, mitigate and manage such potential risks. Our HSE culture is essentially the way
we do business and this is irmly embedded at every level throughout our organisation.
Everyone in the Group is responsible for upholding our HSE policies. Every employee and contractor is
empowered and has a duty to stop unsafe work when substandard behaviours or conditions are observed.
Our extensive experience in the oil and gas sector, as well as our collaboration with industry and government
stakeholders, led to the sharing and adoption of HSE best practices. We monitor HSE developments and new
initiatives across the industry through these collaborations and sharing, in addition to our own experience,
drives a commitment to continuous improvement in all areas of our organisation.
08