Sugih Energy acquires 51% stake in a service firm
Saturday, June 16 2012 - 03:39 AM WIB
By Romel S. Gurky
PT Sugih Energy, publicly listed company that engages in the exploration and production of oil and natural gas, has acquired a 51 percent stake in PT Resources Jaya Teknik Management Indonesia that provides supporting services, in particular rigs, to oil and gas contractors.
Sugih bought the stake valued at Rp5.1 billion from PT Parwa Nusantara Technology with the purchase and sale agreement signed on June 15, 2012, the company said in a filing to the Indonesia Stock Exchange (IDX).
Editing by Dadan Wijaksana