Mosesa to complete production facility project in Tonga block in Q4
Thursday, March 13 2014 - 01:55 AM WIB
PT Mosesa Petroleum, a subsidiary of PT Energi Mega Persada (EMP), expects the development of the Phase II Production Facility project of the Tonga block, Padang Lawas regency, North Sumatra to be completed in the fourth quarter of this year.
EMP?s Investor Relations Herwin W. Hidayat told Petromindo.com on Wednesday the company is building several oil tanks at the site as part of the project.
?This production facility project is expected to increase the block?s oil production which currently averages 350 bopd,? he said.
Located between Dumai in Riau and Sibolga in North Sumatra, the Tonga PSC is 94.29 percent owned by PT Mosesa Petroleum (operator), and 5.7 percent by PT Petross Exploration Production. It has proven and probable oil reserves of 3.54 million barrels, and prospective oil resources of up to 61 million barrels.
Editing by Johannes Simbolon