SAPURACREST ACQUIRING TWO VESSELS

KUALA LUMPUR, Sept 22 (Bernama) -- SapuraCrest Petroleum Bhd's wholly-owned
subsidiary, TL Offshore Sdn Bhd (TLO), Thursday issued two letters of award to
Cosco Nantong Shipyard Co Ltd, to build two units of pipelay-cum-heavylift
offshore construction vessels worth US$227 million.

Both vessels are to be built at Cosco Nantong's shipyard in China.

Sapuracrest, in a filing to Bursa Malaysia (Malaysia's stock exchange), said
the acquisition will enable TLO to capitalise on the positive outlook in the
installation of pipelines and facilities segment in the oil and gas industry.

SapuraCrest said with the deployment of the vessels, it will enhance its
market share by growing the revenue stream within its existing core business.

After delivery, the vessels will be deployed for marine construction
contracts for major oil companies, it added.