PT PLN (Persero) signing of the Share Sale and Purchase Agreement with Chevron Standard Limited for the acquisition of MCTN
Congratulations to PT PLN (Persero) for the signing of the Share Sale and Purchase Agreement with Chevron Standard Limited for the acquisition of PT Mandau Cipta Tenaga Nusantara (MCTN) which signing ceremony was also attended by the Minister of Energy and Mineral Resources!
This landmark deal will allow PLN to operate the 300MW cogeneration facility owned by MCTN and ensure continuous supply of electricity to the Rokan Block, one of the largest and most productive oil blocks in Indonesia, which will soon be transferred to Pertamina group. As such, the deal concludes one of the challenging elements related to the block’s transfer and is an important part of the Government of Indonesia’s plan to maintain energy independence (with the block allowing Pertamina to produce 25% of Indonesia’s total oil output) and support domestic economic growth.
Led by Pramudya A. Oktavinanda and Kirana Sastrawijaya with support from Ajeng Ayuningtyas and Amelia Rohana Sonang, we are proud to act as PLN’s leading legal counsel in this exciting deal. It is an honor indeed to continue participating in deals that are strategic to our country’s interest. Congratulations once again to all the parties involved! #WeGetThingsDone