PETALING JAYA: Sapura Energy Berhad today announced the appointment of former Petronas president and CEO Shamsul Azhar Abbas as its new chairman.
Shamsul, whose appointment is effective immediately, replaces Hamid Bugo, who is retiring after more than eight years at the integrated oil and gas service provider.
In a statement, Sapura president and CEO Shahril Shamsuddin said Shamsul’s 40-year tenure at Petronas meant Sapura would have a “key leader” in the oil and gas industry helming its board.
“Sapura Energy will greatly benefit from his leadership mettle, deep expertise and strategic insight to help the company navigate forward to the next level of growth,” said Shahril, who thanked Hamid for his commitment over the years.
During his time at Petronas, Shamsul guided the national oil company in undertaking strategic landmark projects such as the Pengerang Integrated Refinery and Petrochemical Project (RAPID) and the Petronas Floating LNG Facilities Project.
He was also instrumental in Petronas’ global expansion through the acquisition of Progress Energy Canada and the development of shale gas to LNG through the Pacific North West LNG project.
Shamsul is a nominee director of Permodalan Nasional Berhad (PNB). PNB and its associated funds collectively own a 40% stake in Sapura.