PT Energi Mega Persada Tbk. (“EMP” or “the Company’) today reported that its Bentu PSC block in Riau Sumatera has received the approved Plan of Further Development for the Seng and Segat gas fields from the government (SKK Migas). Such development is expected to increase the block’s output by over 50 million cubic feet gas per day, starting in year 2017. The additional gas output will be sold to Pertamina Dumai at the price range of $7.5 – $8 / mmbtu.
During the 1st semester 2015, the Bentu PSC block produced at an average of 48 million cubic feet gas per day. The existing gas output is sold to PLN Pekanbaru ($5.5/mmbtu), Riau Andalan Pulp & Paper ($5.2/mmbtu), and Perusda Pelalawan ($4.7/mmbtu).
Mr. Imam Agustino, EMP’s CEO, said, “This is a positive achievement by our Company. The ability to increase the gas output at an attractive selling price, is a good strategy. Once the additional gas output is commenced in 2017, Bentu PSC is expected to produce more than 90 million cubic feet gas per day.”
PT Energi Mega Persada Tbk. is a an upstream oil & gas company which operates 12 oil, gas, and coal bed methane projects in Indonesia and in Mozambique (Africa). During the 1st half of 2015, the Company produced 11,454 barrels of oil per day and 218 million cubic feet gas per day, from 154 million barrel equivalent of proved and probable reserves.
For any questions relating to this release, please contact Herwin W. Hidayat (Investor Relations) at +6221-2994 1500. Other related Company information can be found at www.energi-mp.com
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