JAPEX Divests Stake in EMPI to EMP, Acquires Interest in EMPG

Japan Petroleum Exploration (JAPEX) has recently made strategic moves in the Indonesian energy sector, divesting its stake in Energi Mega Pratama Inc. (EMPI) to Energi Mega Persada (EMP) while acquiring a stake in EMP Gebang (EMPG).

JAPEX transferred its 25% interest in EMPI to EMP, relinquishing its indirect interest in the Kangean block located offshore Java, Indonesia. EMPI’s subsidiaries, Kangean Energy Indonesia (KEI) and EMP Exploration (EMPE), hold majority stakes in the block, which is known for its gas and oil production.

Having completed planned exploration and development programs in the Kangean block, JAPEX made the decision to divest its stake, considering the block’s mature producing assets such as the TSB gas complex and the Pagelungan Utara oil field.

Simultaneously, JAPEX acquired a 50% stake in EMPG, a subsidiary of EMP, gaining access to Indonesia’s Gebang production sharing contract (PSC) located in northern Sumatra. The Gebang PSC offers potential for gas field discoveries and development, particularly the Secanggang gas field.

Furthermore, Indonesia’s energy sector has seen increased activity with recent PSC signings for exploration blocks in Indonesian waters. Petronas, INPEX, SK Earthon, and Pertamina are among the key players involved in these developments, showcasing the growing interest in Indonesia’s oil and gas resources.

Coro Energy’s subsidiary, Coro Duyung, also made headlines by selling its interest in the Duyung PSC, which holds the Mako field in the West Natuna Sea, to Conrad Asia Energy. This transaction reflects the dynamic nature of the Indonesian energy market and the opportunities it presents to international players like JAPEX.