Energi Mega Persada’s profits at $176m in H1

JAKARTA. PT Energi Mega Persada has announced that its profits grew by 14.48 percent based on a year-on-year basis to US$176 million during the first half of 2013.

The company's top-line growth was driven mainly by increased production at its Kangean PSC in East Java, the ONWJ PSC in West Java and the Bentu PSC in Riau, Sumatra.

During the same period, Energi's significant profit growth was due to one-time income received from the sale of the company's 10 percent stake in the Masela PSC block in the Arafura Sea.

“Our focus now is to increase output from our producing assets and to further develop our exploration assets. Kangean, the ONWJ, and Bentu will continue to drive our company's growth story for the next two years." Energi CEO Imam Agustino said in a statement.