Petrosea completes acquisition of Scan-Bilt to boost regional expansion

By Romel S. Gurky

Mining and oil, gas contractor PT Petrosea Tbk (IDX: PTRO) announced on Monday that it has completed the acquisition of a 60 percent stake in Singapore-based Scan-Bilt Pte. Ltd., marking a key milestone in the company’s diversification and international growth strategy. The transaction was finalized on 21 November 2025 through Petrosea’s subsidiary, Petrosea Services Solutions Ltd., following the signing of a share purchase agreement with TCAL Engineering Pte. Ltd. The deal is valued at  SGD 10.3 million, equivalent to USD 8.03 million.

President Director Michael said the acquisition strengthens Petrosea’s long-term strategy to expand beyond its domestic operations. He noted that the move supports the development of multidisciplinary EPC capabilities in the chemical processing sector and broadens Petrosea’s geographic reach across the Asia-Pacific and Oceania regions, particularly in the oil and gas industry.

Read also: Petrosea to acquire majority stake in Singapore-based engineering contractor

Scan-Bilt, established in 1990 in Singapore, has a long record in multidisciplinary construction and civil engineering, delivering onshore oil and gas processing projects, chemical plant and tankage terminal developments, and power generation facilities. Petrosea plans to position the company as a regional business hub to support expansion into Singapore, Papua New Guinea, Australia and Indonesia.

Petrosea highlighted that the acquisition aligns with its shift into non-coal sectors through its group companies HBS and Hafar, offering sustainable mining and construction services for the gold and minerals industry, as well as integrated offshore EPCI solutions. With more than 50 years of operating history, the company delivers services across the full value chain from EPC and mining to offshore oil and gas and logistics across Southeast Asia, Papua New Guinea and Australia.

Editing by Alexander Ginting