SINGAPORE, Feb. 12, 2016 — King & Spalding has advised Ramba Energy subsidiary PT Hexindo Gemilang Jaya on the completion of the sale and transfer of a 35% interest in the Lemang Production Sharing Contract (PSC) located onshore in Sumatra, Indonesia to KKR-backed Mandala Energy.
The King & Spalding team also advised on a secondment agreement, through which Mandala's team will bring its complementary technical experience and capabilities to work actively alongside the Ramba team, and amendments to the Joint Operating Agreement.
The firm also advised Hexindo on the simultaneous closing of its acquisition of a 15% interest in the Lemang PSC from Eastwin Global Investments Limited.
“We are very pleased that these transactions have been brought to a successful conclusion despite the challenges posed by the low oil price. The closing of two transactions is further testament to the resilience of the region and we wish all the parties every success with their efforts developing the Lemang block,” said Merrick White, a partner in King & Spalding’s Singapore office.
The King & Spalding team that advised on the two transactions also included partner Richard Nelson, senior associate Sylvia Taslim and associates Nick Kouvaritakis and Kristian Whitaker in Singapore.
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