Legitimate! Bakrie Group Issuers Manage 49% of the Sengkang Oil and Gas Block
The power with respect to operating the PSC lies with SKK Migas, not EEES, EWC or EMA. EMA is owned by the Bakries, and the Bakries exercise a great deal of influence over politics and the energy sector and SKK Migas (and PLN). The levers are not pulled in HK, but in Jakarta. That surely must be the lesson of the last 15 years. That, and the Indonesians are incredibly patient. Bakrie has been interfering in Sengkang since the purchase from El Paso.
I always assumed given SE's experience at CEPA and Hopewell meant he would be able to navigate the Indonesia political scene - but that assumption was wrong.
