No headways on acquisition drive: EMP
Saturday, June 23 2012 - 01:38 AM WIB
Indonesia-listed oil and gas company PT Energi Mega Persada (EMP) said it has yet to make significant progress on its plans to acquire oil and gas blocks and would for now concentrate on developing existing assets.
?If we find potential blocks we?ll explore it (possible acquisition) further. However honestly speaking, we have no development on the future acquisition plan so far,? Chief Investor Relations Herwin H. Hidayat told petromindo.com.
The company in particular is focusing on its Kangean and ONWJ blocks. EMP is the operator of Kangean, while ONWJ is operated by PT Pertamina Hulu Energi.
?In general, our production target for this year is 40,000 boepd and 60,000 boepd next year,? said Herwin.
Editing by Dadan Wijaksana