M3nergy and PT Transamudra close financing for FPSO Ratu Nusantara

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
M3nergy and PT Transamudra close financing for FPSO Ratu Nusantara

M3nergy and PT Transamudra as sponsors have close financing on a US$182 million term facility and US$38.4 million guarantee facility to finance the FPSO Ratu Nusantara.

Watson, Farley & Williams Asia Practice LLP announced that it has advised the joint venture.

The loan facilities were provided to PT M3 Ketapang Sejahtera, a joint venture entity owned by the sponsors, by a syndicate of lenders consisting of CIMB Bank Berhad Labuan Offshore Branch, Export- Import Bank of Malaysia Berhad, Industrial and Commercial Bank of China (Malaysia) Berhad, National Bank of Abu Dhabi Malaysia Berhad, Natixis Singapore Branch, Oversea-Chinese Banking Corporation Limited and Sumitomo Mitsui Banking Corporation (SMBC).

SMBC acted as co-ordinating bank for the lenders as well as facility agent and security agent. 

The 1994-built Aframax tanker Scorpius will be converted into FPSO Ratu Nusantara, which will be operated by Petronas Carigali in the Bukit Tua oil and gas field in the Ketapang block in offshore Madura Island, East Java, Indonesia.

M3nergy bought the tanker from d'Amico Fratelli for $13M in July 2012.

The FPSO Ratu Nusantara is a floating production, storage and offloading facility with a processing capacity of 25,000 barrels per day and a storage capacity of up to 630,000 barrels

PT Transamudra is an owner and operator of vessels in the offshore oil and gas sector headquartered in Indonesia.

M3nergy is an emerging exploration and production company headquartered in Malaysia. It is owned by Sabah Development Bank and its strategic focus is on marginal field development, with 15 years of experience in the field.

List of country news

Country news

  • May 26, 2014

    IFC and Asia Green Capital agree to develop wind power in Indonesia

    IFC, a member of the World Bank Group, and Asia Green Capital Partners, a developer and investment company dedicated to niche markets in the renewable energy sector, have entered into a joint development agreement to promote renewable energy generation, such as wind and solar power, in Indonesia and other markets across South East Asia. Read more
  • July 03, 2014

    GDF Suez to help PGN with feasibility study for on-shore LNG terminal

    GDF SUEZ has signed a cooperation agreement with Perusahaan Gas Negara (PGN), the principal Indonesian operator in the field of natural gas distribution and transportation, related to a feasibility study for an on-shore LNG terminal in northern Java. Read more
  • July 21, 2014

    Armstrong Asset Management's fund invests in hydropower in Indonesia

    Armstrong Asset Management has agreed to commit up to US $22.5 million to develop and operate a portfolio of 50MW mini-hydro plants in Indonesia. Read more
  • October 10, 2014

    PT PLN seeks consultant for 53 MW hydropower project

    PT PLN (Persero) has received financing from the French Development Agency, for carrying out a feasibility study for the Masang-II Hydropower project in Indonesia. Read more
  • November 03, 2014

    Ophir Energy to acquire Indonesian exploration licenses

    Ophir Energy plc has entered into an agreement with Niko Resources to acquire interests in seven deepwater Production Sharing Contracts (PSCs) in Indonesia Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.