Energi Mega Persada boosts production by 19 percent

Alfian ,  The Jakarta Post ,  Jakarta   |  Mon, 07/13/2009 7:38 PM  |  Business

PT Energi Mega Persada (ENRG) reported Monday it produced an average of 29,100 barrels of oil equivalent per day (boepd) in the first quarter of 2009, a 19 percent increase in production from the same period last year.

“Thanks to the performance, we are very optimistic that we can achieve our 2009 production target,” said Herwin W. Hidayat, ENRG's vice president for capital markets.

Herwin said the company had set a production target of 30,000 boepd this year, up from 25,100 boepd last year.

In the first quarter of 2009, ENRG's average daily oil production stood at 13,800 bopd, up from 10,200 bopd in the same period last year. The company's gas production reached 92 billion Britisth thermal units per day (bbtud), up from 86 bbtud in the same period last year.

ENRG operates nine oil and gas blocks and two coal bed methane (CBM) blocks. Their biggest source of oil comes from a block in the Malacca Straits, while blocks in Kangean supply the greatest amount of gas.

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