Ranhill to exit Indonesian upstream business: Report

Malaysian firm Ranhill Berhad in the process of farming out its upstream ventures in Indonesia and the Philippines as investment in the sector hasn't borne much success.

Business Times quoted a source reported that Ranhill has farmed out some of the concessions and will complete the rest over the next few months.

In Indonesia, the company has 11 percent interest in Citarum PSC onshore West Java, 80 percent interest in Batu Gajah PSC onshore South Sumatra and 100 percent interest in South CPP PSC, onshore Central Sumatra. (*)