Pertamina makes indicative offer for Nigeria-based Maurel & Prom

2/17/2013

Pertamina makes indicative offer for Nigeria-based Maurel & Prom

BY ALEX MACDONALD

JAKARTA -- Pertamina has made an indicative offer for Maurel & Prom Nigeria, the Telegraph reports.

Shell was reported last June to have been interested in buying the Maurel & Prom Nigeria, which has assets in Africa and Latin America, but is now set to miss out on the $2.17 bn acquisition, the newspaper reported.

Pertamina is working with Societe Generale on a takeover offer of up to $25.42 a share for the company, the report said. Pertamina is said to be hungry for fresh oil and gas reserves because Indonesia became a net importer in 2004 following declining production from its maturing fields and growing consumption, it added.

Dow Jones Newswires

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