Benakat eyeing oil, gas blocks acquisition

IDX-listed energy firm PT Benakat Petroleum Tbk is in the process of conducting due diligence to acquire three undisclosed oil, gas blocks in Indonesia.

Corporate Secretary Ferdinand Dion was quoted by local media as saying that the due diligence would be completed in the second half of this year.

Dion said the Company has readied US$100 million for the acquisition. (*)