Liputan6.com, Jakarta - PT Energi Mega Persada Tbk (ENRG) or EMP is preparing capital expenditure (capex) of USD 150 million or around IDR 2.35 trillion (exchange rate of IDR 15,670 per USD).
Director of PT Energi Mega Persada Tbk, Edoardus Ardianto said, the majority of capex will be allocated for the development of existing blocks.
"The 2023 capex is around USD 150 million, which will be used predominantly for the development of blocks currently in the company. Including Malacca Strait, Bentu, Block B, Tonga, South CPP, and Sengkang," Edoardus said in the company's public expose, Thursday (17/11/2022).
Edoardus added that the company has prepared a development plan for 2023, including drilling exploration wells and development wells to increase the company's reserves and production next year.
As of September 2022, the company has realized around USD 81 million or 81 percent of the capital expenditure prepared for this year.
"This year's capex is USD 100 million. As of September 2022, the realization has reached 81 percent of what the company has budgeted for," he said.
For the remainder of this year, the company will continue development in the Malacca Strait block, Bentu block, and 'B' block by drilling two exploration wells and six development wells. The company has sales contract commitments with large-scale companies for each block currently managed by EMP.
For the Bentu block , the buyers are PT Pertamina Internasional refinery, PT PLN (Persero), PT Riau Andalan Pulp and Paper, and PT Pertamina (Persero).
Then the Kangean block, namely PT Petrokimia Gresik, PT PLN (Persero), and PT Pertamina. For the Malacca Strait block, the buyer, namely Lukoil Asia Pacific Pte. Ltd., PT Refinery Pertamina Internasional, and PT PLN (Persero). Meanwhile, the buyers for the Korinci Baru and Sengkang blocks are PT PLN (Persero).
