JAKARTA (Yosefardi) – PT Sugih Energy Tbk (SUGI), through its subsidiary Petroselat Ltd, will sell its gas production from Selat Panjang block to state electricity company PT Perusahaan Listrik Negara (PLN).
Under the agreement, Petroselat will sell 2.5-5 billion british thermal unit per day (bbtud) to PLN for 2014-2019 period.
SUGI has boosted its production capacity to 750 barrels oil per day (bopd). It booked operating income of US$2 million in first half of this year, dropped 57.4% from US$4.7 million in the same period of last year.