KS Energy ups stake in Petro Papua Energi
Friday, March 21 2014 - 12:18 PM WIB
By Alexander Ginting
SGX-listed integrated oil services company KS Energy Limited announced on Friday that its 80%-owned subsidiary, KS Drilling Pte. Ltd. has increased its equity stake in PT. Petro Papua Energi (PPE) from 60% to 90% by acquiring 900 ordinary shares from PT. Semesta Bara Energi.
PPE is a private company limited by shares and incorporated under the laws of Indonesia with and its principal activity is the provision of drilling services to the Indonesian oil and gas industry.