JAKARTA (rambuenergy.com) – PT Energi Mega Persada Tbk, a listed oil and gas company, said that its gas production in Bentu PSC block reached an average of 46 million standard cubic feet per day (MMSCFD) from January 1 to March 8, representing an increase of 21 percent compared to average of 38 MMSCFD throughout 2014.
The increase was due to the commissioning of PLN’s 11 gas engine units.
Bentu PSC is located in Riau, Sumatera. It currently supplies most of its gas output to PT PLN, state owned utility company at a price of $5.59 per MMBTU with 3 percent escalation per annum, while the remaining volumes are sold to PT Riau Andalan Pulp & Paper and PD Tuah Sekata.
Bentu PSC has around 300 billion cubic feet of proved and probable gas reserved and is currently 100 percent owned and operated by Energi Mega Persada.
Energi Mega currently operates 12 oil, gas and coal bed methane blocks in Indonesia and in Mozambique (Africa).
In 2014, the company produced 12,800 barrels of oil per day and 226 MMSCFD of gas, based on its shares in oil and gas blocks. (*)