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  • Puma Energy purchases remaining share of MedcoEnergi’s fuel storage and distribution business in Indonesia
    édité le 24/03/2014 - Plus de news de "Puma Energy" - Voir la fiche entreprise de "Puma Energy"

Puma Energy purchases remaining share of MedcoEnergi’s fuel storage and distribution business in Indonesia
Puma Energy Singapore Pte Ltd, the global midstream and downstream energy company, signed an agreement to purchase the remaining 35.28% share of PT Medco Sarana Kalibaru (“MSK”), the fuel storage and distribution subsidiary of publicly listed oil and gas company PT Medco Energi Internasional Tbk (“MedcoEnergi”).

MSK’s principal assets include a fuel storage facility in Tanjung Priok International Port, North Jakarta and distribution capabilities in Kalimantan and Sumatra to serve the mining industry.

The announcement follows the creation of a strategic alliance in 2012 between the two companies and new venture in MSK to deliver high quality fuel products to clients throughout Indonesia.

“It was the right time to divest our remaining ownership in the venture and continue our strategy of strengthening our core activity of exploration and production in the oil and gas business,” said Lukman Mahfoedz, President Director and CEO of MedcoEnergi.

“Today’s announcement demonstrates Puma Energy’s commitment to growing its business across Asia Pacific. We will retain a strong working relationship with MedcoEnergi based on respect for each other’s professional approach and dedication,” said Eric Herman, General Manager, Puma Energy Indonesia.

About MedcoEnergi

PT. MEDCO ENERGI INTERNASIONAL TBK (“MedcoEnergi”) is publicly listed company with a focus on the exploration and production of oil and gas business. MedcoEnergi has operations in Indonesia, including operating nine oil and gas blocks, maintaining a working interest in one block operated by partner, and holding an economic participating interest in an exploration field.

Overseas, MedcoEnergi operates in Oman, Yemen, Libya, Gulf of Mexico in the USA and Papua New Guinea. In addition MedcoEnergi operates several gas-fired, coal power plants and supplies electricity to the Indonesian State-Owned Electricity Company (Perusahaan Listrik Negara/PLN), operates coal mining and also gas distribution business.

About Puma Energy

Puma Energy is a global integrated midstream and downstream oil company active in over 35 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 6,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).

Puma Energy’s core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy’s activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product.

Puma Energy’s downstream activities include the distribution, retail sales and wholesale of the full range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 1,600 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources. Puma Energy’s strategic shareholders are Trafigura Beheer B.V, one of the world’s largest independent commodity traders, and Sonangol, the national oil company of Angola.

Origine : Communiqué Puma Energy

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