Energi Mega Persada, Oil And Gas Company Owned By Conglomerate Bakrie Plans To Increase Gas Supply To PLN

JAKARTA - The oil and gas company owned by the Bakrie conglomerate family, PT Energi Mega Persada Tbk (ENRG) plans to increase gas supply to PT Perusahaan Listrik Negara (PLN) from the Bentu Cooperation Contract (KKS) Block in Riau. The supply increase will be carried out through its subsidiary, namely EMP Bentu Limited (EMP Bentu).

President Director of Energi Mega Persada Syailendra Bakrie explained that currently EMP Bentu supplies around 30 million cubic feet of gas per day to PLN Pekanbaru. In accordance with the gas sale and purchase agreement with PLN, EMP Bentu is required to produce up to 40 million cubic feet of gas per day to PLN.

"EMP Bentu is the holder of a 100% participating interest and operator in the Bentu PSC Block in Riau," Syailendra said in a written statement, quoted on Wednesday, June 29.

Meanwhile, Sumbagut SKK Migas Representative Head Rikky Rahmat said that his party would continue to encourage PSC contractors to increase oil and gas production by drilling development and exploration wells in their respective working areas.

"We appreciate the increase in gas production from the Bentu PSC block, which is expected to be beneficial for the surrounding community in Riau," he said.

Energy Finance Director of Mega Persada Edoardus Ardianto said that last year, EMP Bentu had completed the drilling of 2 development wells and 1 exploration well. Meanwhile, this year EMP Bentu has completed 1 development well and 1 exploration well. The company will also complete 2 exploration wells in 2022.

"We hope that the positive results from this drilling activity can increase gas production from the Bentu PSC Block in the near future," he said.

Edoardus revealed that the gas supply from the Bentu PSC block which is sold to PLN will be channeled through a gas pipeline owned by PT Medco Ratch Power Riau (MRPR) in Pekanbaru. In addition to selling gas to PLN, EMP Bentu also sells gas production to its subsidiaries PT Pertamina and PT Riau Andalan Pulp & Paper.

"We hope that the increase in gas production from the Bentu PSC block will have a positive impact on the company's financial performance in the future," said Edoardus.