SPT Energy Unit Signs Indonesia Oilfield Funding Agreement; Shares Gain 2%

marketscreener
2025.09.29 03:55
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SPT Energy's Indonesian unit, PT Cipta Niaga Gemilang, has signed an operation agreement with Pioneer Oil Indonesia to develop oil fields in the Jabung Tengah Block. Under the agreement, Pioneer will invest up to $200 million over three years, while SPT will not contribute capital. Profits from successful output will be shared equally. Following the announcement, SPT Energy's shares rose nearly 2%.

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