Prima Energy (PT Prima Petroleum Energi), a company active in Indonesia's upstream oil and gas sector, has recently acquired 28.3% of Jadestone Energy, a company listed on the London Stock Exchange. This move demonstrates the company's commitment to developing its activities in the Southeast Asian oil and gas industry.
Details of the Acquisition and Asset Evaluation
This strategic investment was made following a comprehensive evaluation of Jadestone's assets in Australia, Indonesia, Malaysia, and Vietnam. With this purchase, Prima Energy aims to enhance the value of its existing assets in Indonesia as well as expand its activities into new markets.
Jadestone Energy, currently valued at approximately £228 million (around $304.97 million), has ten assets across four different countries and offices in five countries with over 400 employees. The company holds a significant position in the Asian oil and gas market, focusing on exploration and production activities.
Prima Energy's Progress in the Southeast Asian Market
Founded in 2021, Prima Energy currently holds two Production Sharing Contracts (PSCs) in Indonesia, named Bawean and Northwest Natuna, with 100% ownership. The company aims to add value to its existing assets in this country.
Prima Energy's sister company, Soechi Group, is also active in transportation and marine services, particularly in the transportation and storage of oil and gas, which helps expand Prima Energy's operations in the offshore oil and gas sectors.
Peters Automo, CEO of Prima, stated: "Acquiring a major stake in Jadestone is an exciting development for our company as we seek to expand our presence in the Southeast Asian oil and gas industry while continuing our projects in Indonesia. We believe Jadestone's assets have high potential and look forward to collaborating with the board and management of this company to create value for all stakeholders."
