EMP Targets Up To 15 Percent Increase In Oil And Gas Production

Illustration of the refinery

JAKARTA - Cooperation Contract Contract Contractor (KKKS) PT Energi Mega Persada Tbk (EMP) targets oil and gas production growth of 10 to 15 percent in 2024.

Just so you know, throughout 2023 EMP has produced 6000 barrels of oil per day (bopd) and 180 million standard cubic feet of gas per day (BSCFD).

"Last year we succeeded above 10 percent, so we hope that this trend will continue in the coming year where we are targeting growth of 10-15 percent per year," said PT Energi Mega Persada Tbk Vice President Director & CFO, Edoardus Ardianto at Energy Corner, Tuesday, February 13.

Edoardus said that to support the increase in oil and gas production, his party will drill 2 development wells in the Gebang Working Area (WK) located in North Sumatra.

"Development will be carried out in stages where one will start in 2024, an additional 40 million cubic feet of gas per day," continued Edoardus.

Later this gas flow will be used to meet gas needs in Aceh, North Sumatra and surrounding areas and is expected to be on steam in early 2026.