Energi Mega Persada is currently one of the most substantial Indonesian owned oil and gas companies with a large and diverse portfolio of oil and gas producing assets plus assets under development, appraisal and in the exploration stage. The company is well regarded for its growth track record and its competitive positioning in the Indonesian upstream oil and gas sector and Energi Mega Persada is looking forward to substantial further production growth both from its existing portfolio and from new acquisition opportunities. Capturing all these opportunities and converting the volume to value for shareholders will require substantial capital investment.
On the other side, Bumi Resources has reputation as the large producer and exporter of high quality coal with the experience of successfully managing two strategic coal assets, PT Kaltim Prima Coal and PT Arutmin Indonesia. Management of Bumi Resources fully realizes that the energi and natural resources industry is rapidly growing, and this condition requires Bumi Resources' management to formulate more strategic business action to deal with the growing challenge and competition. One of the recent strategic actions by Bumi Resources is the divestment of all ownership in the two coal assets, KPC and Arutmin, at a most favorable offering price. Armed with the enormous proceed from divestment, Bumi Resources intends to further develop and take the most benefit out of the oil and gas sector, as well as the mineral sector and other energy resources.
This merger is a strong and preferable platform to unite all the strength and growth opportunities possessed by each Merger Participants. The combination of Bumi Resources' surplus of cash and Energi Mega Persada's abundant undeveloped gas reserves are the most fitting elements to create business synergy and value added to the shareholders of both merger participants.
Objective of Merger
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