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EMP’s subsidiary signed Gas Sales & Purchase Agreement to increase gas output by 50 million cubic feet per day from its Bentu PSC Block in Riau, Sumatera

PT Energi Mega Persada Tbk. (**the Company” or “EMP”) today PT Energi Mega Persada Tbk. (“Perusahaan” atau “EMP”) announced that its subsidiary, EMP Bentu Limited, has signed a Gas Sales Agreement to sell gas output to PT Pertamina (Persero) (“Pertamina”). The agreement was signed on the 19th of January 2018 at the Pertamina’s office in Jakarta. The agreement includes the contracted gas volume of 56 TBTU (56 billion cubic feet of gas) from 2019 to 2021.

Mr. Imam P. Agustino, the President Director of EMP, said, “We, plan to produce around 50 million cubic feet gas per day to Pertamina based on the signed contract, starting in early 2019. This is in addition to the Bentu PSC Block’s current average production of 46 million cubic feet of gas per day to PT Perusahaan listrik Negara (“PLN”) and PT Riau Andalan Pulp & Paper (“RAPP”), PD Tuah Sekata (“PDTS”) and PT Riau Pertamina (Persero) for city gas (“Pertamina City Gas) in Riau throughout year 2017.

Mr. Edoardus A. Windoe, the Chief Financial Officer of EMP, added, “The production increase from our Bentu block PSC is expected to have positive impact on the Company’s financial condition going forward.”

Mr. Syailendra Bakrie, the Deputy President Director of EMP further explained, “throughout year 2017, the Bentu PSC made up about 28% of the Company’s total production. Such contribution from the Bentu PSC block is expected to double in 2019.”

Bentu PSC block (Riau, Sumatera) is currently 100% owned and operated by EMP Bentu Limited, a subsidiary of EMP. The block’s average production throughout year 2017 is 46 BBTUD (billion cubic feet of gas per day), and the gas output 2017 is sold to PLN and RAPP in Pekanbaru, Riau. As of 03 2017, the block is estimated to have Proved and probable (2P) Reserves of 400 billion cubic feet of gas.

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