JAKARTA: Merukh Enterprises acquires oil and gas fields of family Whitehaed in Buna Texas, United States worth U.S. $ 5 billion.
President Director and CEO Rudy Merukh Merukh Enterprises said it acquired an interest reasons for oil and gas fields because of the 100 wells in the area, proven oil reserves estimated at 30 million barrels.
With current oil prices in the range of U.S. $ 100 per barrel, the value of oil reserves were estimated at U.S. $ 3 billion.
"In addition to producing oil, 100 wells also produce natural gas supplied to industrial gas demand in New Jersey. Production and supply of gas from the wells is estimated to worth U.S. $ 2 billion. The total value of oil and gas acquisitions to reach U.S. $ 5 billion, "Rudy said in a press release today.
Oil wells are located in the formation of Willcox, on the border between Texas and Luisiana proven oil reserves.
The signing of oil and gas field acquisition was conducted on March 10, 2011 Last week Rudy Merukh and family representatives Whitehaed Andy Whitehead. The signing was witnessed by the Managing Director of Finance Merukh Enterprises Janny Utami.
According to Rudy, on the basis of the acquisition agreement, the family will be the operator Whitehaed remain in the oil and gas fields. In addition, given the right to buy Enterprises Merukh first (first right of refusal) to participate in the discoveries of new oil and gas fields found in family Whitehaed.
"We welcome the project because most of the advantage it used to finance projects of social activity Merukh Foundation, a foundation which was formed last year to implement a program to restore benefits to the people of Indonesia, 'he said.
Janny said funding for the project will be done through an IPO (initial public offering / IPO) in Singapore and Australian stock exchanges. He said he believes could reap fresh funds to finance the project because the stock market in Singapore and Australia have a positive response to the oil and gas commodities.
According to Andy Whitehaed, it is very enthusiastic to be working with Merukh Enterprises. Through cooperation, access to project financing of oil and gas to Asian markets and Australia could be opened. It has long targeted the Asian and Australian markets to finance the production of oil and gas. (*)
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