EMP?s unit in GSA deal with Bumi Siak Pusako-Pertamina

IDX-listed oil, gas firm PT Energi Mega Persada Tbk (EMP) announced on Friday that its unit Kondur Petroleum S.A (KPSA), which operates the Malacca Strait PSC, signed the Heads of Gas Sales and Purchase Agreement (HGSA) with BOB PT Bumi Siak Pusako-Pertamina Hulu.

Under the deal, BOB Bumi Siak Pusako-Pertamina Hulu will buy gas for US$ 4.8 / mmbtu (3% escalation per year) from KPSA?s gas plant as the delivery point, EMP said in a press statement.

Malacca Strait PSC will initiate gas supply from its Kuat-DR gas field of around 7 million cubic feet per day to BOB. The gas will be used by BOB as fuel to generate power in Siak, Riau.

The total gas volume contracted is 21 billion cubic feet of gas until 2020, the company said. (denny)