M&A Deal Summary

SapuraCrest Petroleum Acquires Clough - Marine Construction Division

On August 8, 2011, SapuraCrest Petroleum acquired construction company Clough - Marine Construction Division from Clough for 127M AUD

Acquisition Highlights
  • This is SapuraCrest Petroleum’s 1st transaction in the Construction sector.
  • This is SapuraCrest Petroleum’s 0th largest (disclosed) transaction.
  • This is SapuraCrest Petroleum’s 1st transaction in Australia.

M&A Deal Summary
Date 2011-08-08
Target Clough - Marine Construction Division
Sector Construction
Buyer(s) SapuraCrest Petroleum
Sellers(s) Clough
Deal Type Divestiture
Deal Value 127M AUD

Target

Clough - Marine Construction Division

Australia
Clough's offshore Marine Construction Division includes the derrick lay barge, Java Constructor, and associated marine construction equipment. Also included will be Clough’s interest in the Clough Helix Joint Venture, which operates the chartered Normand Clough vessel, and its investments in specialist engineering businesses, OFI and Peritus. Relevant contracts including the Chevron Gorgon Domestic Gas pipeline project are proposed to be novated.

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Buyer(S) 1

Buyer

SapuraCrest Petroleum

Selangor, Malaysia
Category Company
Founded 2011
Sector Energy Services and Equipment
Employees1,790
Revenue 4.3B MYR (2024)
DESCRIPTION

SapuraCrest Petroleum is an oil and gas services and solutions providers. SapuraKencana’s full spectrum of capabilities covers the entire value chain of exploration, development, production, rejuvenation, and decommissioning and abandonment. SapuraCrest Petroleum was founded in 2011 and is based in Selangor, Malaysia.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2011) 1 of 1

Seller(S) 1

SELLER

Clough

Perth, Australia
Category Company
Sector Engineering
Revenue 625M AUD (2013)
DESCRIPTION

Clough is an engineering and project services contractor servicing the Energy & Chemical and Mining & Mineral markets in Australia and Papua New Guinea. Our services range from early concept evaluation and feasibility studies through design, construction, commissioning and long term asset support and optimisation.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
Country (Australia) 1 of 1
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-14 Ocean Flow International

Houston, Texas, United States

Ocean Flow International LLC is a deepwater subsea project engineering and offshore project management services firm.

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