KUALA LUMPUR (Nov 9): Sapura Energy Bhd has sealed the deal to divest half of its wholly-owned exploration and production (E&P) unit Sapura Upstream Sdn Bhd to Austrian oil and gas (O&G) outfit OMV Aktiengesellschaft (OMV), of which part of the proceeds will be used to repay its debt.

Sapura and OMV inked a joint venture (JV) agreement for the strategic partnership today, as a follow-up to a Heads of Agreement (HoA) signed between the two parties on Sept 12