Petrosea obtains new mining services contract from Freeport
Thursday, August 31 2017 - 05:05 AM WIB
IDX-listed mining services company PT Petrosea Tbk, a subsidiary of IDX-listed integrated energy company PT Indika Energy Tbk, has obtained mining services contract from gold and copper giant PT Freeport Indonesia which operates the giant Grasberg mine in Papua Province.
Indika said that Petrosea and PT Freeport entered on June 9 into an agreement for the Grasberg Wannagon Mining Services project.
?The contract duration is 25 months,? Indika, which owns 69.8 percent interest in Petrosea, said in a statement on Wednesday, but did not provide details.
In June of 2015, Petrosea and PT Feeport, a subsidiary of US Freeport McMoRan Inc, signed a four-year construction service agreement through 2019 worth up to $158 million.
Editing by Reiner Simanjuntak