Radiant spends $40m to acquire MOPU
Thursday, June 30 2011 - 01:54 AM WIB
IDX-listed firm PT Radiant Utama Interinsco Tbk will complete acquisition of a mobile offshore production unit (MOPU) from Dubai-based firm Global Process System for US$40 million.
President Director Sofwan Farisyi was quoted by Investor Daily as saying that the MOPU is currently rented to Santos Limited and is being operated at Maleo field in Madura Offshore PSC, East Java.
Sofwan said acquisition will be completed late July, 2011.
Prior to the acquisition, Radiant is operating the MOPU.(*)