PT Basic Energi Solusi, the foreign investment firm of Philippines’ Basic Energy Corp. and Malaysian firm Petrosolve Sdn Bhd, is set to acquire the management rights of 10 oil wells in Indonesia.

In a disclosure to the Philippine Stock Exchange, Basic Energy said that it has arrived at an agreement with Petrosolve for PT Basic Energi to acquire the rights to manage 10 identified oil wells in the Central Java area of Indonesia. The rights will be acquired from Petrosolve.

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