Govt approves EMP?s PoFD on Bentu PSC

IDX-listed PT Energi Mega Persada Tbk announced on Monday that it has received approval from the government (SKK Migas) for its Plan of Further Development (PoFD) on Bentu PSC in Riau.

Following the approval, the firm now expects to increase the block?s output by over 50 million cubic feet gas per day (mmmscfd), starting in year 2017. The additional gas output will be sold to Pertamina Dumai at the price range of $7.5 - $8 / million British thermal unit (mmBtu)

During the first semester 2015, the Bentu PSC block produced at an average of 48 mmscfd. The existing gas output is sold to PLN Pekanbaru ($5.5/mmBtu), Riau Andalan Pulp & Paper ($5.2/mmBtu), and Perusda Pelalawan ($4.7/mmBtu).

?This is a positive achievement by our company. The ability to increase the gas output at an attractive selling price, is a good strategy. Once the additional gas output is commenced in 2017, Bentu PSC is expected to produce more than 90 mmscfd,? CEO Imam Agustino said.

Editing by Johannes Simbolon