EMP seeking to buy new oil and gas fields
Saturday, March 15 2008 - 01:44 AM WIB
IDX-listed oil and gas firm PT Energi Mega Persada Tbk. (EMP) is seeking to acquire five or six oil and gas fields in Java and Sumatra and overseas.
?We have found several potential assets to be acquired and are now conducting study on them. We will make a decision soon, most probably by the end of March,? EMP?s Chief Commissioner Ari S. Hudaya said on Friday.
The company expected to own at least a 50 percent stake in each of the would-be acquired oil and gas fields, he noted.
The company is still in the process of seeking the best financing option to finance the acquisition. ?It can be through refinancing scheme or new financing scheme,? he said. (*)