EMP short-listed to buy BP?s ONWJ stake

IDX-listed oil, gas firm PT.Energi Mega Persada (EMP) said it was short-listed as one of prospective bidders for BP?s 46 percent stake at Offshore Northwest Java (ONWJ) oil, gas in West Java.

Newly elected President Director Imam Agustino said the acquisition is part of the company?s expansion strategy along with planned acquisition of other assets in Indonesia and overseas, he said.

Other companies such as state oil and gas company Pertamina, which teams up with IDX-listed firm Indika Energy, Medco Energi and Chinese firm CNPC are known to have expressed interest to acquire BP?s stake in ONWJ.

ONWJ is one of Indonesia's largest offshore oil and gas operators - supplying energy for the domestic market on the island of Java and beyond. The ONWJ concession stretches from Cirebon in the east to the Seribu Islands in the west. The ONWJ facilities include 670 production wells, 170 platforms, over 40 processing and service facilities, along with approximately 1,600 km of sub-sea pipelines.

According to data from Ministry of Energy and Mineral Resources, the block produced 270MMCFD of gas in 2008 and more than 20,000 BOPD of oil. The block supplies gas to state gas distribution firm PGN, state electricity firm PLN and state fertilizer firm Pupuk Kujang. (bernard)