JAKARTA (Yosefardi) – Oil and gas producer PT Energi Mega Persada Tbk (ENRG), controlled by Bakrie Group, plans to acquire oil and gas company in 2015, to strengthen its oil gas business.
The targeted company should have mining concession area and be in operation. ENRG allocates US$140 million fund, equivalent Rp1.6 trillion for expansion in the second half of this year.
ENRG plans to refinance its debt scheduled to mature this year amounting US$62 million. The company booked net sales of US$413.38 million in the first half of 2014, grew by 10% from US$374.59 million. While net profit dropped 83% to US$30.45 million from previous US$179.59 million.