PIPA to Acquire Gas Processing Company, Management Leaks Details

Jakarta, CNBC Indonesia - Energy issuer PT Oxala Energy International Tbk (PIPA) is finalising its plan to acquire a company engaged in natural gas processing. This corporate action is part of PIPA’s business transformation to strengthen its foothold in the energy sector while opening new sources of growth.

PIPA’s controlling shareholder, PT Morris Capital Indonesia (MCI), through a letter to the company’s Board of Commissioners dated 18 August 2026, stated that MCI and PIPA are in the process of finalising the acquisition transaction of the target company. The parties are targeting the signing of a Conditional Share Purchase Agreement (CSPA) in August 2026.

PIPA Corporate Secretary Haerul Maelani said the company targeted for acquisition has been operating for approximately 14 years. Initially, the company was engaged in trading engineering equipment, construction, and engineering consulting services with a turnover of around Rp40 billion per year.

However, since 2025, the target company has begun expanding into the oil and gas processing business. The expansion was strengthened by the acquisition of a number of strategic contracts worth more than US$100 million.

“Since 2025, the target company has expanded into the oil and gas processing sector with the acquisition of strategic contracts worth more than USD100 million,” said Haerul in an information disclosure on Wednesday (19/8/2026).