ENRG - PT. Energi Mega Persada Tbk

Rp 185

+5 (+2,78%)

JAKARTA. EMP Bentu Limited, a subsidiary of PT Energi Mega Persada Tbk (ENRG), the operator and full owner of interest participation of Bentu Block, has reportedly discovered a new gas-in-place source of 126 billion cubic feet from its drilling activity in CEN-01 gas well.

The management of ENRG said that discovery will entail a follow-up with drillings in several development wells. In addition, the company will begin the construction of gas pipe and additional production facility.

“We expect to start producing gas from CEN-01 well with an average volume of 45 million cubic feet per day in the future,” added the management in the official statement.

For the record, this gas well discovery will help ENRG to gain additional gas production of 45 million cubic feet of gas per day (MMBTU). Assuming that the selling price of gas is USD 6 per MMBTU, the value of this new discovery is expected to reach USD 270 thousand per day ot approximately USD 100 million (equal to IDR 1.57 trillion) per year.

“This discovery of a new gas-in-place in KKS Bentu Block also reflects the company’s achievement in developing the business organically,” added the management of ENRG.

According to IDNFinancials data, gas production in Bentu Block reaches 81 MMBTU per day throughout 2023, which brings total gas production volume to over 50% of total gas production in Northern Sumatra region. (KR/ZH)