JAKARTA - PT Energi Mega Persada Tbk (ENRG) posted US$239 million in revenue as of 30 September 2020, up 25% year on year (yoy) from US$191.99 million. This was announced by ENRG CEO Syailendra S. Bakrie in a press release on Thursday (17/12).
According to Mr Bakrie, the revenue increase was due to an increase in oil and gas production from several blocks managed by the company, with signifiant contribution from the Malacca Strait, Bentu, and Kangean blocks. "The company hopes this condition can continue next year," he said.
As of 30 September, ENRG posted US$92 million in operating profit and US$42 million in net profit.
The company, Mr Bakrie added, completed the drilling of three oil wells in the Malacca Strait Block in the first semester of 2020. In addition, it also completed the drilling of one well in the Buzi EPCC Block in Mozambique with the drilling of another well still ongoing. "The company will also complete the planned development of the Gebang Block in North Sumatra," Mr Bakrie said. (LK/MS)