Energi Mega Persada finds oil deposits

Publicly listed energy firm PT Energi Mega Persada (EMP) has discovered oil deposits in its two concessions, the Makassar Straits block in Riau and the Brantas block in East Java.

The firm said it had "accidentally" discovered the oil deposit in the Brantas block while it was measuring the size of the gas deposit in the Tanggulangin-3 well.

"While our drilling targeted the delineation of gas reserves in the deeper horizon, the Tanggulangin-3 well struck an oil accumulation in the shallower region," the company said on Friday in a report to the Jakarta Stock Exchange.

Oil flowed out of the well at the rate 776 barrels per day (bpd), it said.

EMP also discovered an oil deposit at the MSEA-01 well of the Malacca Straits block. Oil came out of the well at the rate of 550 bpd.

It operates the Malacca Straits and Brantas blocks through subsidiaries Kondur Petroleum SA and Lapindo Brantas Inc. respectively.

The firm also said it had completed the installment of two gas compressors at its Wunut field in Brantas, which would allow it to increase the block's gas output to 80 million cubic feet per day (MMCFD)

The second-largest privately owned oil and gas company in Indonesia, EMP produces 10,500 barrels of oil per day (bpd) and 60 million MMCFD of natural gas.

The company plans to increase its oil production to 12,000 bpd and its gas output to 80 MMSCFD this year. -- JP