Energi Mega secures approval for Tonga block PoD

Private oil and gas company PT Energi Mega Persada Tbk said that on 10 April 2012 it has secured the government approval of the Plan of Development for Tonga PSC block where it owns a 53.44-percent interest.

The Tonga PSC is located in North Sumatera and is operated by a subsidiary of Energi Mega Persada, PT Mosesa Petroleum. The block is expected to commence first oil production in the first semester of 2012 at a production rate of 1,200 barrels per day for the whole year 2012.

The Tonga Field certified gross reserves (3P or Proved, Probable, and Possible) are 7 million barrels and Prospective Resources (P50 or best estimate) are 31.2 million barrels from nearby prospects, the company said.

?This is a very positive result from Tonga PSC. Our team is currently finalizing the infrastructure to facilitate the first oil production. We are on track to start oil production from Tonga PSC in the first semester 2012,? Imam Agustino, the CEO of Energi Mega, said.

He noted the new oil production from the Tonga PSC is expected to have a positive impact to the company?s performance.

Editing by Roffie Kurniawan