JAKARTA (Yosefardi) – PT Sugih Energy Tbk (SUGI) is optimistic to achieve its revenue target for this year supported by some completed projects including Petroselat.
SUGI targets production of 1,000 bopd and to drill BA-8 and BA-9 development wells in Bakau field, Petroselat.
The company booked sale of crude oil of US$4.16 million, all to PT Pertamina.
In the same period of 2013, it only booked US$403,291 crude oil sale. The company posted no revenue from drilling rig 98 against US$2.45 million revenue a previous year.
In September 25, 2014, Petroselat Ltd, subsidiary of Sugih Energy, was assigned by the ministry of energy and minerals resources (ESDM) to supply 2.5-5 billion british thermal unit per day (bbtud) of natural gas from Selat Panjang working area to state electricity firm PT Perusahaan Listrik Negara (PLN) for 5 years period.
PLN will use gas supply from Petroselat for its power plant in Siak regency, Riau province.