JAKARTA &ndash; PT Raharja Energi Cepu Tbk (RATU), through its subsidiary PT Raharja Energi Negeri (REN), has spent USD 9.647 million to acquire a 5% participating interest (PI) in the Kasuri Working Area from Genting Oil Kasuri Pte. Ltd (GOKPL).
According to a disclosure submitted to the Indonesia Stock Exchange (IDX) on Monday (11/5), the transaction value is equivalent to 17.05% of the company&rsquo;s total equity as of 31 December 2025.
Alongside the transaction, the company also provided a parent company guarantee to GOKPL to secure all of REN&rsquo;s payment obligations.
&ldquo;REN has fulfilled its commitments under the Farm-Out Agreement (FOA) and Joint Operating Agreement (JOA) with GOKPL through the payment of a deposit for the transfer of the participating interest,&rdquo; Supriyanti, RATU&rsquo;s corporate secretary, said.
GOKPL is a company incorporated under Singaporean law and acts as both operator and contractor of the Kasuri Working Area under a Production Sharing Contract (PSC) scheme with SKK Migas.
Supriyanti stressed that the transaction value remains below the threshold for a material transaction, as stipulated under Article 3 paragraph (1) of OJK Regulation No. 17/POJK.04/2020.
As such, the corporate action &ldquo;does not require approval from the General Meeting of Shareholders (GMS) nor the appointment of an independent appraiser&rdquo;, Supriyanti added. (DH/ZH)

RATU acquired 5% interest in the Kasuri Working Area for USD 9.647 million from Genting Oil Kasuri.