One-Page Deal Sheet
PGN Acquires Interest in East Java Offshore Block
PGNiG Kuwait Foreign Petroleum Exploration Company
Announced Date
June 26,2013
Effective Date
January 01,2013
Close Date
June 21,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
265
Location
Calculated Metrics( EV/Category)
Region
Asia - Pacific
Country
Indonesia
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
Transaction Details: Subscribe to see
PT Saka Energi Indonesia, subsidiary of publicly listed gas distributor PT Perusahaan Gas Negara (PGN), agreed to buy the participating interest of Kuwait Foreign Petroleum Exploration Company (Kufpec) in a gas field in East Java.
PGN corporate communications Ridha Ababil on Tuesday said the state-owned company’s upstream arm would purchase Kufpec’s 25 participating interest at the Ujung Pangkah block in Gresik, East Java for US$265 million.
“We [PGN] want to try involving ourselves in the procurement of oil and gas because until now we only received and distributed,” he said in a telephone…
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