KUALA LUMPUR: PJ Bumi Bhd said its 90%-owned sub-subsidiary PT Indodrill Bumi Perkasa has entered into an integrated project management (IPM) service agreement with PT Petro Papua Mogoi Wasian, which holds a concession to conduct oil exploration and exploitation activities in the Mogoi Wasian, Papua.
In a filing with Bursa Malaysia, PJ Bumi said the agreement, valued at US$6.55mil (RM27.56mil), entails IPM drilling services for three wells and a workover of eight wells.
