Buana Listya Tama to float shares next month
Friday, April 8 2011 - 01:57 AM WIB
The company said in its prospectus announced on Friday that it has 21 oil, gas and chemical vessels including 9 oil tankers, 8 gas tankers, 1 unit of floating production, storage and offloading (FPSO), 1 unit of floating storage and offtake (FSO) and 2 chemical tankers.
Of the 21-strong fleet, 15 vessels are owned and operated by the company with the remaining 6 leased from its parent company.
The company has several oil and gas company customers, with whom it has mostly has time charter contract such as state-owned oil and gas firm PT Pertamina, PetroChina, ExxonMobil, Shell, Petronas Carigali Sdn. Bhd. and Kangean Energy Indonesia.
At the present, the company is participating in five FSO procurement tenders, including a charter tender to provide a very large gas carrier (VLGC) to ConocoPhillips, a tender to provide VLGC to Mobil Cepu Ltd, a charter tender to provide afrramax vessel to CNOOC, a tender to provide two medium-range vessels to Medco and Santos and a tender to provide two units of FPSO procurement to Petronas Carigali and PetroChina.
The company expects to participate in other oil and gas procurement tenders in the future. According to the company, once the company bags those tenders, it will immediately convert its vessel into FPSO/FSO units.
The company is also seeking the possibility to acquire more vessels, especially focused to buy gas tankers and oil tankers, which will be converted to FPSO/FSO. (denny)