Former Petronas' top executive succeeds Sapura Energy's Shahril Shamsuddin

KUALA LUMPUR: Sapura Energy Bhd has today announced that its president and group chief executive officer Tan Sri Shahril Shamsuddin will step down from his post upon reaching the retirement age of 60.

Sapura Energy said Shahril would be succeeded by Datuk Mohd Anuar Taib, a former Petronas top executive who would be group CEO on March 23.

Sapura Energy's succession plan was announced last year, ahead of Shahril reaching the retirement age of 60 on March 22 this year.

Shahril founded Sapura Energy in the mid-1990s and built it from a diving contractor to the global integrated oil and gas (O&G) firm that it is today.

His legacy includes Sapura Energy's wide range of technical capabilities and strategic assets in drilling, engineering and construction, exploration and production, and more recently, offshore windfarm construction.

The group said it had contributed about RM89 billion to the Malaysian economy over the last five years, with more than RM15 billion worth of work awarded to Malaysian vendors.

In the last three years, Sapura Energy repatriated home more than US$2 billion in foreign currencies.

Shahril said the company had seen a profitable turnaround in 2020 despite the challenging environment for the industry and the false narratives of a fickle market.

He called on employees to work hard in sustaining profitability for the group and its shareholders.

"Permodalan Nasional Bhd (PNB) holds the biggest stake in Sapura Energy, which means our ultimate owners are the 14 million unitholders in the investment arm. These are ordinary Malaysians who have entrusted their savings to PNB.

"We have a huge obligation, an amanah to protect and enhance the value of their investments," he said.

Urging employees to continue carrying the Sapura Energy flag under Anuar, Shahril said his successor was deeply committed to deepening and cementing the group's position as a world- class technology powerhouse in the global energy industry.

"He has the experience, calibre and mettle to bring Sapura Energy upwards in the next phase of our journey. It gives me great comfort to know that he has been well-received by the organisation, and that he has been able to hit the ground running.

"This is a measure of both Anuar's qualities, and the Sapura Energy values embedded within our people," he said.

Anuar, who joined Sapura Energy as an independent director in August 2020, was appointed chief operating officer and CEO-designate last October.

His previous roles included chairman of Shell Companies in Malaysia and Petronas executive vice president and CEO of upstream.

At the national oil company, he was instrumental in improving the delivery of capital projects, reduction in operating costs and the set-up of the successful low-cost and marginal field subsidiary Vestigo Petroleum.

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