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ENRG targets Buzi Refinery to contribute to the company's revenue in 2021

12 December 2019 13:51

JAKARTA - PT Energi Mega Persada Tbk (ENRG) expects its Buzi Block oil and gas refinery in Mozambique to contribute to the company's revenue by 2021. Currently, oil and gas produced in three oil and gas refineries managed by ENRG reach 2,354 BOPD and 140, 68 MMCFD.

As quoted from the company's disclosure, ENRG has 75% participation interest in the Buzi Block and the remaining 25% is owned by Empresa Nacional De Hidrocarbonate, Empresa Publica (ENH), a State-Owned Enterprise (BUMN) of Mozambique.

The development of the Buzi block took two years, starting with drilling wells 1 and 2 and construction of production facilities. Currently, ENRG is making preparations for the drilling in the third week of December 2019. (LK/AR)

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