Keppel acquires stake in KrisEnergy
Monday, July 9 2012 - 12:24 PM WIB
Keppel Corporation Limited (Keppel Corporation), through a wholly owned subsidiary, has subscribed for new shares in KrisEnergy Ltd (KrisEnergy) for US$115 million.
The consideration amount was injected as new capital into KrisEnergy, and Keppel Corporation now holds 20 percent of KrisEnergy?s enlarged share capital.
Established in 2009, KrisEnergy is an independent upstream oil and gas company with a diverse portfolio in Southeast Asia. KrisEnergy was previously 100 percent held by parent company KrisEnergy Holdings Ltd, whose major shareholder is First Reserve, a leading global investment firm dedicated to the energy industry.
Currently, KrisEnergy operates six out of the 14 licenses they hold in Cambodia, Indonesia, Thailand and Vietnam, covering a gross acreage of more than 63,000 sq km. With certified proven reserves of 14.4 mmboe, as of December 31, 2011.
Its portfolio has three offshore producing assets: the Kambuna gas-condensate field in Indonesia and the B8/32 and B9A oil and gas blocks in the Gulf of Thailand.
Editing by Dadan Wijaksana