Radiant teams up with Fred Olsen to acquire FPSO

IDX-listed services company PT Radiant Utama Interinsco will team up with Norway firm Fred. Olsen Energy ASA to acquire a Floating Production, Storage and Offloading (FPSO) vessel worth more than US$500 million.

President Director Sofwan Farisyi was quoted by Bisnis Indonesia as saying that the deal will be finalized in July 2009.(*)