JAKARTA. The decline in the performance of several of its business lines pushes PT Ratu Prabu Energi Tbk (ARTI) to explore opportunities abroad.
The company provides oil and gas services through its subsidiary, PT Lekom Maras. Independent Director of ARTI, Gemilang Zaharin, said that his company's oil and gas services business began to decline due to the expiry of some of its contracts.
To anticipate this, the company has prepared several strategies. He said ARTI was exploring opportunities at other countries such as Brunei, Malaysia and Thailand. ARTI has even sent one rig to Malaysia.
ARTI will work with a Malaysian oil and gas company, Petronas for six months. "For the work, we have started since two months ago (July)," he said when met in his office on Friday (13/9).
Furthermore, Gemilang said that his company would first evaluate the contract extension for the work in Malaysia.
Right now ARTI has 4 rigs, of which 3 rigs are being used. "One of them will be free soon, so we try to explore work in Brunei," he added. (AM/AR)