JAKARTA (RambuEnergy.com) – PT Pertamina Pedeve Indonesia, a subsidiary of state-owned energy company PT Pertamina has signed Conditional Share Sale and Purchase Agreement (CSPA) with PT Japan Indonesia LNG Co.,Ltd (JILCO) to acquire the Japanese company’s shares in PT Badak LGL
The CSPA was signed recently at Pertamina’s headquarter in Jakarta. Director for Corporate Marketing of Pertamina Basuki Trikora Putra said Pertamina has appointed Pertamina Pedeve to acquire 15% JILCO shares in Badak NGL, located in East Kalimantan.
After the stake purchase, Pertamina Group now controls 70% shares of Badak NGL, VICO 20% and TEPI 10%.
“This means, Pertamina has raised its stakes in PT Badak. Certainly, this will become a trigger for us to develop Badak NGL going forward on a commercial basis,” he said.
Badak NGL has been known for its operational excellence and has become a reference for industry players in the LNG business in the past.
President Director of Pedeve Sjahril Samad he expects the relationship with JILCO will continue. Both parties have been cooperating in developing the Badak NGL since 1974. (*)
Edited by Roffie Kurniawan (email: firstname.lastname@example.org)