Indonesia Dealbook : French firms eye pacts; Sugih Energy to sell part of Lemang block
A group of leading French companies are seeking to establish partnerships with Indonesian and Singaporean companies in a bid to expand their south east Asian operations. On the other hand, Indonesian oil and gas exploration and production company PT Sugih Energy Tbk (SUGI) seeks to sell portion of its shares in an oil & gas block in South Sumatera province.
French firms seeking partners in Indonesia and Singapore
Over a dozen French companies are looking at striking strategic partnerships with Indonesian and Singapore-based companies to expand their south east Asian operations. According to a report in state agency Antara, quoting chief executive of Business France Muriel Penicaud, nearly 17 companies are interested to form partnerships with Indonesian and Singaporean companies.
Muriel Penicaud said, the 17 companies are 3P- Performance Plastics Products, AlphiSateco, Biotope SAS, Cobre Europe SA, Eclatec, EPC Groupe, F2A, GaussinManugistique, Hyd&Au Group, Inatis Group, Lacroix Sofrel, Mac 3 SAS, PinetteEmidecau Industries, Polytechs, Resonate MP4, Sefac SA and VernetBehringer.
Export director of BPI France Alain Renck added these companies are specialised in infrastructure technologies which are applicable in big infrastructure projects, such as seaports and airports.
The bilateral trade between Indonesia and France was recorded at $3.2 billion in 2014, with France posting a trade surplus of $200 million.
At present, 160 French companies are operating in Indonesia including majors like PT Danone Aqua in food processing, Total E&P and Alstom in energy sector.
Sugih seeks buyer for Lemang block stake
Sugih Energy, a company controlled by Indonesia’s Soeryadjaya family, plans to sell part of its working interest in the Lemang oil and gas block, located in South Sumatra, to strategic investors. The company holds a 49 per cent stake in the block.
President Director of Sugih Energy AndhikaAnindyagunaHermanto said it has received bids from prospective investors but declined to disclose the details of the transaction. Sugih wants the Lemang block to start production within the next four months.
Ramba Energy, a Singapore-listed company that owns the remaining 51 percent stake in the block, announced last week that it had reached an agreement to sell 25 percent of its stake for $128 million