PT Energi Mega Persada Commences First Gas at Kuat Field in Sumatra
PT Energi Mega Persada Tbk. (EMP), an Indonesian indepedent upstream oil and gas exploration company, commenced first production at the Kuat gas field in the Malacca Strait production sharing contract (PSC) in Sumatra, Indonesia Monday.
The first commercial gas volume, comprising 8.5 million cubic feet per day (MMscf/d), was supplied to BOB PT Bumi Siak Pusako - PT Pertamina Hulu Energi (BOB) at $8.00 per million British thermal unit (MMBtu) to fuel BOB's power generator to lift oil, EMP added.
"The additional gas output is expected to have positive impact on the Company's financial results in the second half of 2014," Imam Agustino, EMP's CEO, said in the press release.
The Malacca Strait PSC, operated by EMP with a 60.49 percent interest, produced 3,288 barrels of oil per day in the first quarter of 2014. China National Offshore Oil Corp. holds the remaining 39.51 percent interest in the block.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Oil's Heavy Hitters Line Up to Dive Into Mexico's Deep Waters (Jan 26)
- Iceland's Oil Dream in Peril as China, Norway Give Up Last Block (Jan 23)
- ExxonMobil Reports More Offshore Guyana Success (Jan 05)
Company: PT Energi Mega Persada more info
- SKK Migas Approves EMP's Plan to Develop Seng, Segat Gas Fields in Sumatra (Oct 14)
- Indonesia's Energi Mega to Refinance $170M Loan, Considers Acquisitions (Dec 05)
- PT Energi Mega Persada Commences First Gas at Kuat Field in Sumatra (Jul 16)