JAKARTA - PT Energi Mega Persada Tbk (ENRG) will prepare a capital expenditure (CapEx) budget of US$ 80 million - US$ 100 million in 2020, which will be used for oil and gas refinery management. At present, the company manages five oil and gas refineries; Bentu Block, Malacca Block, Gebang Block, Kangean Block and Tonga Block.
As quoted from the company's public expose sheets, ENRG's management hopes that with the capital expenditure budget, the company's oil and gas production targets will be achieved next year.
As of Q3 2019, The company has produced 2,095 BOPD of oil and 3.69 MMCFD of gas from the Malacca Block, followed by the Tonga Block (0.221 BOPD), Kangean Block (0.037 BOPD and 79.85 MMCFD). (LK/AR)