Energi Mega Oil Leases bucket Laju

PT Energi Mega Persada Tbk (ENRG), through its subsidiaries, Kangean Energy Indonesia Limited signed the lease of a floating facility, production, storage, and offloading with PT Berlian Laju Tanker Tbk.

“It’s for a four-year contract in the Kangean PSC block,” said Director of Energi Mega Persada Priest P Agustino in Jakarta, Tuesday, May 11th 2010.

The facility, according to him, can accommodate up to 400 thousand oil barrels. While the contract value reached U.S. $ 81 million.

“Financing was conducted jointly with the Energy, Mitsubishi Cooperation, and Japan Petroleum Exploration Co. Ltd.,” said Priest.

Each, Imam added, has a 25 percent working interest. While funding from the company will use the results of production. “This is the entry of operational expenditure. So, from the production will be covered,” he said.

Kangean planned to start operation in October 2010 with daily production of 5000 barrels per day until 7000. “The target for the year according to the daily target,” said Priest.

With a daily production of 7000 barrels, estimated production for a year to reach 2.5 million barrels.
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