SAPURACREST PETROLEUM BERHAD

Notice of Award to Offshore International FZC for Transportation and Installation of Platform Jackets in Mumbai High North Field

The Board of Directors of SapuraCrest Petroleum Berhad (“SapuraCrest”) is pleased to announce that Offshore International FZC (“OIFZC”) has received a Notice of Award (“NOA”) from Larsen & Toubro Limited (“L&T”) for the provision of works and services for the transportation and installation of four platform jackets in the Mumbai High North Field, offshore Mumbai (“Works”).Commencement of the Works is expected to be in November 2010, with completion taking place in January 2011. The price for the Works is approximately USD 65 million.OIFZC is a joint venture company between L&T and SapuraCrest. L&T and SapuraCrest indirectly hold 60% and 40% respectively of the shareholding in OIFZC. The NOA will have no effect on the issued and paid-up capital of SapuraCrest and is expected to contribute positively to the Group's earnings and net tangible assets for the financial year ending 31 January 2011.None of the Directors or Substantial Shareholders of SapuraCrest or persons connected with them has any direct or indirect interest in the NOA.