JAKARTA – PT Energi Mega Persada Tbk (ENRG) has officially divested 50% of its participating interest in the Gebang gas block in North Sumatra to Japan Petroleum Exploration Co. Ltd. (JAPEX) through a sale and purchase agreement signed today, 22 May.

The Gebang block, particularly the Secanggang gas field, is considered a hydrocarbon asset with the potential to meet the rising demand for gas and electricity across Sumatra.

“Gas production from the Secanggang field is targeted to commence in 2027, with infrastructure planning and design already underway,” ENRG stated in an official release, quoted Thursday (22/5).

The increase in gas production from 2027 onwards is projected to boost EMP’s EBITDA, cash flow, and reserves profile.

“Furthermore, the structure of this transaction allows us to retain strategic control while securing a world-class partner,” said Edoardus Ardianto, ENRG Vice President Director and CFO.

According to ENRG’s management, JAPEX will be able to accelerate the development of the gas field through robust funding access, advanced geological modelling, and more efficient project execution.

JAPEX is a Japanese company with decades of experience in the energy sector, particularly in upstream oil and gas development across Asia, North America, Europe, and the Middle East.

This is not the first collaboration between ENRG and JAPEX. Both companies has been co-operating the Kangean PSC since 2007.

However, as of today (22/5), ENRG, through its subsidiaries, will acquire the remaining 25% interest held by JAPEX in the Kangean block, becoming the primary operator of the East Java-based oil and gas asset.

This move aligns with the company’s vision to expand reserves and increase daily oil and gas production through organic growth.

“These two transactions reflect EMP’s balanced long-term vision—strengthening our position in Kangean to generate future economic value, and building a strategic partnership with JAPEX in operating the Gebang asset,” said Syailendra S. Bakrie, President Director and CEO of ENRG. (ZH)