JAKARTA - PT Raharja Energi Cepu (REC), shareholder of PT Petrogas Jatim Utama Cendana (PJUC), provides cash-on-call facility of USD 6.90 million for the development of Cepu Block, East Java.

According to information disclosure quoted Thursday (9/1), Sumantri, Director of PT Rukun Raharja Tbk (RAJA), confirmed that the transaction is aimed for its business development in the upstream energy industry, as well as boosting profit in the future.

The interest for this 2025 cash-on-call facility is set to SOFR+5%, or equal to 10.04%.

REC is listed as RAJA’s subsidiary with 99.99% stake recorded. REC is also the shareholder of 49% of PJUC, the company that holds participation rights of 2.2423% in the Cepu Bloc Cooperation Contract and Joint Operation Agreement that covers Cepu Work Area. (LK/ZH)