Petrosea Shares Soar as Company Moves to Acquire Singapore’s Scan-Bilt
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JAKARTA, Investortrust.id — PT Petrosea Tbk, or PTRO, has signed a non-binding term sheet to acquire a majority stake in Singapore-based Scan-Bilt Pte Ltd, a company specializing in civil engineering and maintenance for chemical processing and onshore oil and gas industries.
The announcement on Friday, Sept 19, 2025, came as Petrosea shares, controlled by Indonesian tycoon Prajogo Pangestu, surged 33.84% over the past five trading days to Rp 5,300 on the Indonesia Stock Exchange. The rally reflected investor optimism over the company’s strategy to expand beyond coal and strengthen its position in chemicals and energy.
The preliminary agreement will be followed by due diligence and further negotiations. “As a strategic step, Petrosea will develop Scan-Bilt into a business hub for expansion across the Asia Pacific region, including Singapore, Papua New Guinea, and Indonesia,” said Petrosea President Director Michael in a written statement.
Founded in 1983, Scan-Bilt has built a strong track record in construction for chemical and energy projects. Its portfolio includes Shell Eastern Petroleum’s piling and civil engineering work on Bukom Island, the Effluent Treatment Recycling Plant in Singapore, and the Stolthaven Expansion Project for Stolthaven Singapore.
The company also manages long-term contracts with Aster Chemicals and Energy Pte Ltd, including the Bukom Maintenance Contract on Bukom Island, home to Singapore’s integrated petrochemical complex.
The acquisition aligns with Petrosea’s diversification strategy to grow its non-coal portfolio. Through subsidiaries HBS and Hafar, Petrosea has expanded into gold and mineral mining as well as offshore EPCI (engineering, procurement, construction, and installation) services.
With more than five decades of experience, Petrosea offers integrated services covering EPC, mining, offshore EPCI, and logistics for mining, oil, and gas industries across Southeast Asia, Papua New Guinea, and Australia.
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