EMP ups N. Sumatra gas price

IDX-listed oil and gas company, PT Energi Mega Persada Tbk (EMP) reported that its subsidiary Costa International Group Ltd has increased gas price from its Gebang PSC JOB onshore/off North Sumatra to US$ 5.8 per MMBTU from $4.8 per MMBTU.

PT Pertamina Hulu Energi, an upstream unit of state oil, gas firm Pertamina, Costa International Group Ltd. and PT Energasindo Heksa Karya signed on October 7, 2008 the amended heads of the gas sales & purchase agreement, it said.

Gebang PSC JOB plans to supply gas at approximately 12 millions cubic feet per day in the 2nd half of 2009 from its Anggor field to PT Energasindo Heksa Karya. The total gas volume contracted is 25 billions cubic feet of gas until year 2015.

Pertamina has 50 percent interest in the block while Costa has the balance.

Meanwhile, in late September 2008, following a 3D-Seismic works completed in 2007, a new oil discovery is made within the Gelam TAC in onshore Jambi, the company said

The well called SG-15 development well. The well was first spudded in July 2008. Based on the latest test result, the SG-15 well can commercially produce oil at around 500 barrels per day, the company added. (denny)