EMP starts Brantas oil production

JAKARTA: Publicly listed oil company PT Energi Mega Persada (EMP) said on Monday that its subsidiary Lapindo Brantas Inc. has started production from the Tanggulangin 3 oil well in the Brantas block, East Java.

In its report to the Jakarta Stock Exchange (JSX), the company expected that oil production from the well could reach between 650 and 1,100 barrels per day (bpd) within the next four months.

The oil will be sold to the market based on a "joint lifting" scheme with state oil and gas firm PT Pertamina and U.S.-based energy giant ExxonMobil.

EMP is controlled by the Bakrie Group, a business conglomerate run by the family of current Coordinating Minister for the Economy Aburizal Bakrie. -- JP