EMP has upped Terang field production to 300 mmscfd

Indonesia-listed oil and gas firm PT Energi Mega Persada (EMP) reported Tuesday it has successfully increased the gas production rate from its Kangean PSC block?s Terang field to 300 mmscfd.

The volume of the gas output has been 100 percent contracted at the US$5.15/mmbtu price (at well head) with 3 percent escalation per year to PT PLN, PT Pertagas, and PT Indogas, and US$ 4.93/mmbtu price (at well head) with 3 percent escalation per year to PT Petrokimia Gresik, it said in a media statement.

Earlier in the day, BPMIGAS Deputy of Operation Rudi Rubiandini has said that contracted buyers of gas from the Terang, Sirasun and Batur (TSB) fields must be ready to receive the gas in full capacity within the next three days.

?The gas from the TSB fields is still undergoing a test acceptance today. It will take about 72 hours. If it passes the test, then the gas can flow in full capacity of 300 mmscfd. That means buyers must be ready to pay up in line with their contract,? he said.

Editing by Dadan Wijaksana