KrisEnergy Acquires 42 Pct Stake In Tanjung Aru Block

 

Singapore's oil and gas explorer KrisEnergy acquired a 42 percent stake in the Tanjung Aru block in the Makassar Strait from its partner Neon Energy on May 5, company spokesman Tanya Pang said.

The transaction occurred after Neon Energy failed to pay a cash call worth $1 million, submitted by KrisEnergy. (Kontan)

Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)