backLeading energy law firm King & Spalding has advised a subsidiary of Ramba Energy Limited on: (i) its farm-out of a 35% participating interest in the production sharing contract relating to the Lemang Block located in onshore South Sumatra, Indonesia to a subsidiary of Mandala Energy Limited; and (ii) the farm-in of a 15% participating interest in the Lemang Block from Eastwin Global Investments Limited.
Ramba Energy Limited is listed on the Main Board of the Singapore Exchange Trading Limited and is engaged in oil and gas exploration and production in Indonesia. It ventured into the energy sector in 2008 with the objective of becoming a significant energy producer in Indonesia.
Mandala Energy Limited is a South East Asia-focused oil and gas exploration and production company backed by leading global investment firm, KKR. Mandala is led by a management team of 3 co-founders with over 75 years of combined experience in oil and gas operations. KKR partnered with Mandala in early 2015, a transaction on which King & Spalding also advised.
We're delighted to have worked with both Ramba and Mandala on this strategic investment, said partner Merrick White who earlier this year led the King & Spalding team acting for Mandala when the partnership between Mandala and KKR was established.
The King & Spalding team was led by partners Richard Nelson and Merrick White, who led the farm-out and farm-in transactions respectively. Richard commented that despite the challenges posed by the falling oil price, we're continuing to see investment in the oil and gas industries sector in the region, especially in Indonesia. As at September 2015, the Indonesian government has approved plans to invest US$3.652 billion to develop 18 oil and gas fields, indicating that Indonesia continues to be a desirable investment destination.
Richard and Merrick were supported by senior associate Sylvia Taslim and associates Nick Kouvaritakis and Yumi Ahn on the transactions.