Energy Mega Persada
Listed on the Jakarta Stock Exchange in June 2004, PT Energi Mega Persada Tbk (EMP) owns and operates oil and gas assets across the Indonesian archipelago. In August 2004, EMPs indirectly acquired 100% working interests in the Kangean PSC. Almost two years later in January 2006, EMP acquired PT Tunas Harapan Perkasa which consisted of 5 operating oil and gas assets. In May 2007, EMP farmed out 50% of Kangean PSC to JAPEX and Mitsubishi, and remains as a single majority owner of Kangean PSC with 50% interest. EMP used the proceed to improve its gearing position and to support its working capital requirements.
In June 2007, EMP formed a strategic alliance to co-operate in a gas exploration asset (Suci KSO) with PT Indelberg Indonesia Perkasa and Pertamina. In March 2008, EMP obtained approval from its shareholders to dilute its stake in Lapindo Brantas Inc from previously 100 % to 0.01%. Subsequently, in April 2008, EMP acquired Tonga PSC.
Today, EMP operates 8 oil and gas assets in Indonesia with an oil and gas reserves of 363 mmboe (based on proved plus probable reserves/2P gross certified reserves). During year 2008, EMP produced an average of 25,100 boepd of oil and gas.
Visit www.energi-mp.com for more information