JAKARTA (Yosefardi) – PT Sugih Energy Tbk (SUGI) targets to book revenue of more than US$1 billion this year, supported its trading unit, Sugih Energy International Pte Ltd based in Singapore.
SUGI booked revenue of US$5.36 million in 2014. SUGI has recently injected Sin$100 million or Rp951 billion to Sugih Singapore. SUGI has also secured oil and gas contract for Lemang block, Riau.
SUGI, through its unit Petroselat Ltd, has also secured gas contract worth US$50 million for 5 years period from state electricity firm PT Perusahaan Listrik Negara (PLN).
SUGI allocates capital expenditure (capex) of US$35 million for this year, funded by undisclosed global financial institutions.