JAKARTA. PT Energi Mega Persada Tbk (ENRG), an oil and gas company under Bakrie Group, has acquired two oil and gas blocks in Riau.

This acquisition has been carried out by ENRG’s subsidiaries, PT EMP Energi Gandewa (EEG) and PT EMP Energi Riau (EER). The oil and gas company acquired by EEG is the Siak Partnership Contract Block, while EER takes over Kampar Partnership Contract Block.

Siak Block is acquired by EEG from PT Pertamina Hulu Energi Siak. Previously, this block manufactured oil sold through the Dumai Terminal to PT Kilang Pertamina Internasional (KPI). Meanwhile, the oil manufactured in Kampar Block was previously sold to KPI through Buatan Terminal.

Syailendra S. Bakrie, President Director of ENRG, said that this acquisition is in line with the company’s business development strategy. “Considering that both acquired assets were close to other productive assets of the company in Riau, we expect this acquisition to optimise the synergy among those assets,” he said in the information disclosure in Indonesia Stock Exchange (IDX).

Bakrie also mentioned that as of now, Siak Block and Kampar Block have a total production capacity of 2,200-2,600 barrels of oil per day. By acquiring these two blocks, Bakrie added, the company is expected to maximise the government program of oil production of 1 million barrels and natural gas production of 12 billion cubic feet per day by 2030. (KR/ZH)