Puma to expand presence in Indonesia
Friday, April 25 2014 - 03:37 AM WIB
Global midstream and downstream company Puma Energy plans to build an oil storage terminal in Balikpapan, East Kalimantan to import oil for mining customers in Kalimantan, according to wire reports.
The reports said that the plan will be announced in the next few months.
Last month, Puma signed deal to buy the remaining 35.28% share of PT Medco Sarana Kalibaru (MSK), the fuel storage and distribution subsidiary of publicly listed oil and gas company PT Medco Energi Internasional Tbk.
MSK?s principal assets include a fuel storage facility in Tanjung Priok International Port, North Jakarta and distribution capabilities in Kalimantan and Sumatra to serve the mining industry.
Puma is 48% owned by commodity trading giant Trafigura. (*)