Malaysia’s Sapura Energy returned to profit in its 2018 financial year, boosted by its recently formed partnership with Austria’s OMV.
Sapura posted a profit of 208 million ringgit ($51.1 million) for the 12 months to 31 January, versus a loss of 2.5 billion ringgit the previous year.
Helping push the company into the black was a 2.5 billion ringgit gain from the sale of a 50% share in its exploration and production unit through its strategic partnership with OMV.
