JAKARTA (TheInsiderStories) - Singapore’s Ortus Holding Limited, an investment firm controlled by tycoon Edward Soeryadjaya, in talks with Indonesian oil and gas exploration firm PT Sugih Energy Tbk (IDX: SUGI) to acquire its subsidiary Sugih Energy International Pte Ltd.
The transaction is expected to be finalized this year. No further details on the price and value of the deal.
Sugih Energy currently manages three oil and gas assets in Sumatra, such as Lemang Block with a 34 per cent participating interest as non-operator of Selat Panjang Block with a 55 percent stake as operator and Kalyani Block with a 85 percent share as operator.
The company was founded in 2014 and is headquartered in Singapore. Ortus is also a shareholder of Sugih Energy. (*)