Page 40 - Oil&Gas-AustralAsia-2015-Issue-4
P. 40
S INGAPORE
Lemang deal ready to Ramba
By Marie RYAN
Singapore-listed Ramba Energy has announcement to disclose the identity reported a successful exploration campaign
entered into a memorandum of under- of the farm-in partner upon execution targeting the Selong and Akatara
standing (MOU) with the company’s of the deal on or before 25 September, structures.
investment subsidiary PT Hexindo with the proposed transaction subject The Proposed Transaction under the
Gemilang Jaya for a 25 per cent working to due diligence by the prospective terms of the MoU is valued at around
interest in the Lemang production partner. US$128.25 million and consists of an
sharing contract in Sumatra Indonesia. Lemang represents Ramba Energy’s upfront cash payment of approximately
The contract involves an unknown largest asset by size at 4,328 square US$18.7 million payable on completion
partner and includes service contracts kilometres and for resource potential of the Proposed Transaction meeting
for the production of several oil and with an estimated 23,000 barrels of oil certain regulatory and other conditions,
gas wells in the PSC the company said equivalent. with the remaining cash payments
it could not disclose the identity of the The field lies onshore adjacent to payable upon achieving certain agreed
investor until the finalisation of the PetroChaina’s Jubung block currently milestones.
agreement. producing 53,000 barrels of oil equivalent Ramba Energy owns an 80.4 per cent
Ramba Energy said in a statement per day. The company has identified 28 stake in PT Hexindo Gemilang Jaya.§
the company would make a separate prospective ready-to-drill leads and has
Keppel purchases Letourneau designs
Singapore’s Keppel Offshore & Marine Super Gorilla XL and Jaguar, will add By Marie RYAN
(Keppel O&M) has entered into a stock to Keppel’s offerings in the jack-up rig
and asset purchase agreement with market. The Letourneau design rigs are competitive sector, but also provide the
Cameron International Corporation to well-known designs that have a proven company with enhanced capabilities to
acquire Cameron’s offshore rigs busi- track record of operating in a variety of service customers through the provi-
ness, which comprises the Letourneau environments. sion of expanded aftermarket sales and
jack-up rig designs, rig kit business, Keppel O&M Chief Executive Chow services.
and aftermarket services for US$100 Yew Yuen, said the deal was an oppor-
million. tune and strategic acquisition as it will “We are confident that the long-term
Keppel will acquire designs to the not only broaden Keppel’s suite of jack- fundamentals of the offshore rig market
Letourneau Super 116E, Workhorse, up rig design offerings in this highly remain positive. With the current low
oil price, we have seen a slowdown in
new-build rig orders. Rig owners
~continued on page 36
A A34 OIL & GAS ustral SIA SEPTEMBER/OCTOBER 2015 www.oilandgasaustralasia.com
Lemang deal ready to Ramba
By Marie RYAN
Singapore-listed Ramba Energy has announcement to disclose the identity reported a successful exploration campaign
entered into a memorandum of under- of the farm-in partner upon execution targeting the Selong and Akatara
standing (MOU) with the company’s of the deal on or before 25 September, structures.
investment subsidiary PT Hexindo with the proposed transaction subject The Proposed Transaction under the
Gemilang Jaya for a 25 per cent working to due diligence by the prospective terms of the MoU is valued at around
interest in the Lemang production partner. US$128.25 million and consists of an
sharing contract in Sumatra Indonesia. Lemang represents Ramba Energy’s upfront cash payment of approximately
The contract involves an unknown largest asset by size at 4,328 square US$18.7 million payable on completion
partner and includes service contracts kilometres and for resource potential of the Proposed Transaction meeting
for the production of several oil and with an estimated 23,000 barrels of oil certain regulatory and other conditions,
gas wells in the PSC the company said equivalent. with the remaining cash payments
it could not disclose the identity of the The field lies onshore adjacent to payable upon achieving certain agreed
investor until the finalisation of the PetroChaina’s Jubung block currently milestones.
agreement. producing 53,000 barrels of oil equivalent Ramba Energy owns an 80.4 per cent
Ramba Energy said in a statement per day. The company has identified 28 stake in PT Hexindo Gemilang Jaya.§
the company would make a separate prospective ready-to-drill leads and has
Keppel purchases Letourneau designs
Singapore’s Keppel Offshore & Marine Super Gorilla XL and Jaguar, will add By Marie RYAN
(Keppel O&M) has entered into a stock to Keppel’s offerings in the jack-up rig
and asset purchase agreement with market. The Letourneau design rigs are competitive sector, but also provide the
Cameron International Corporation to well-known designs that have a proven company with enhanced capabilities to
acquire Cameron’s offshore rigs busi- track record of operating in a variety of service customers through the provi-
ness, which comprises the Letourneau environments. sion of expanded aftermarket sales and
jack-up rig designs, rig kit business, Keppel O&M Chief Executive Chow services.
and aftermarket services for US$100 Yew Yuen, said the deal was an oppor-
million. tune and strategic acquisition as it will “We are confident that the long-term
Keppel will acquire designs to the not only broaden Keppel’s suite of jack- fundamentals of the offshore rig market
Letourneau Super 116E, Workhorse, up rig design offerings in this highly remain positive. With the current low
oil price, we have seen a slowdown in
new-build rig orders. Rig owners
~continued on page 36
A A34 OIL & GAS ustral SIA SEPTEMBER/OCTOBER 2015 www.oilandgasaustralasia.com
