Indonesia M&A - PT Rukun Raharja (RAJA) to acquire a 5% interest in the Kasuri PSC from Genting

(Originally posted on May 12, 2026)

Yesterday, it was reported that PT Rukun Raharja had agreed to two deals that will see it acquire a 5% interest in the Kasuri PSC and associated downstream infrastructure from Genting. The two deals are structured through different subsidiaries:

• The first deal sees PT Rukun Raharja acquire a 5% participating interest in the Kasuri PSC through its Raharja Energi Cepu (RATU) subsidiary. The deal is reported to be for US $9.647 million and is expected to be completed no later than February 2027. The Kasuri PSC was previously held 100% by Genting Oil Kasuri Pte. Ltd.
• The second deal sees PT Rukun Raharja acquire a 5% interest in the downstream infrastructure, through a 5% stake in PT Layar Nusantara Gas (PT LNG), a subsidiary of Genting Energy. PT LNG is developing the onshore gas processing plant for the Kasuri PSC as well as the associated FLNG vessel (Genting FLNG). The deal is reported to be for US $38.58 million and is expected to be completed by the end of July 2026.

We have not seen any announced effective date for the deals.