EMP reports increase in oil, gas production

Indonesian stock exchange-listed oil and gas company, PT Energi Mega Persada Tbk (EMP) said on Monday that it has increased production in its existing oil and gas block assets.

EMP said in a statement that Malacca Strait PSC's has been able to maintain a production rate of above 9,000 barrels of oil per day through new development drilling of 4 wells in Melibur field in the middle of this year and had contributed additional 500 barrels of oil per day to the block's existing production. Besides, the successful production enhancement program within the existing fields adds another 800 barrels of oil per day in the 4th quarter of the year, it said.

EMP said that in Semberah TAC's successful discovery of 575 barrels of oil per day from its development wells (SBR-16 and SBR18 wells) in December, 2007 has increased the block's total oil production to around 1,100 barrels of oil per day. Semberah TAC also currently produces gas of 12 million cubic feet per day.

According to the company, on December 3, 2007, Korinci Baru PSC commenced the first commercial gas production to PT Riau Andalan Pulp & Paper (RAPP). Currently, gas flow to RAPP is produced at the rate of 4.2 million cubic feet per day. Gas flow to RAPP is expected to go up to 7 million cubic feet per day by the end of the first quarter 2008. Currently, Korinci Baru PSC also supplies 13.2 million cubic feet per day gas to PLN Riau.

Through its subsidiaries, EMP controls 60.49% stake in Malacca Strait PSC, 100% stake in Korinci Baru PSC and 100% stake in Semberah TAC. (denny)