Energi Mega Persada secures $43m loan

JAKARTA: Publicly-listed PT Energi Mega Persada (EMP) has secured a US$43 million loan from PMA Advisors Investment Limited to develop the Brantas oil and gas block in East Java.

According to a statement sent to the Jakarta Stock Exchange, the company said the loan facility came through its subsidiary Lapindo Brantas Inc., and the documents were officially signed in January.

EMP is a local oil and gas firm controlled by the Bakrie Group. Its shares ended Rp 10 higher at Rp 850 on Friday. -- JP