Energi Mega Persada gathered up USD 100 million capex to boost production
JAKARTA. PT Energi Mega Persada (ENRG) would focus on improving gas production in several of its blocks and allocate the capital expenditure (capex) of approximately USD 80 to 100 million.
Investor Relations of ENRG, Herwin Hidayat, explained that in order to increase gas production, not only that they acquire assets, they also developed those assets through the gas drilling in Buzi block (Africa) and Gebang block (Sumatra), the oil drilling in Malacca block (Riau), and another gas drilling in Bentu block (Riau).
Hidayat could not yet reveal the production target. “The budget for the production target and oil and gas selling prices for this year are yet to be finalised,” Hidayat continued, as quoted by Kontan.co.id on Wednesday (7/4).
Hidayat expected its production and financial performance to improve following the extra gas production from Kangean and other gas productions from other assets to increase after receiving this additional capex. (AM/ZH)