2024
• Acquired 90% effective working interest (WI) in the Siak PSC Block and 90% effective working interest (WI) in the Kampar PSC Block.
• Acquired a Floating Storage & Regasification Unit (EDN-1)
• Acquired a Floating Storage & Offloading Unit (Gandini)
• Acquired an additional 51% working interest (WI) in the KKS Sengkang Block, increasing ownership to 100% from 49%.
2023
• Acquired 64% effective WI in Bireun Sigli PSC Block in Aceh Province
• Acquired 100% ownership in PT Sulawesi Regas Satu (“SRGS”) which has a contract to lease the Floating Storage Regasification Unit (“FSRU”) and its supporting facilities to PT PLN Gas & Geothermal (currently, PT PLN Energi Gas)
2022
The Company acquire 49% working interest in Sengkang PSC Block in South Sulawesi
2021
• The Company acquired an additional 25% shares in Energi Mega Pratama Inc, which through its subsidiary operates the Kangean (Kangean) gas block in East Java. Following the acquisition, the Company’s shares in Energi Mega Pratama Inc increased to 75% from 50% previously.
• A subsidiary of the Company, PT EMP Tunas Energi signed a cooperation contract with SKK Migas and MEMR to operate the South CPP Block in Riau with a cost recovery scheme and expires in 2051.
• EMP completed the 3rd Rights Issue, raising Rp1.8 trillion (US$125 million) proceed and was used to acquire 25% of Energi Mega Pratama Inc . shares from Kinross International Group Ltd. (Energi Mega Pratama Inc. through its subsidiaries owns and operates the Kangean PSC block in East Java), to repay the outstanding loans to the creditors and to fund the working capital requirements of the Company’s existing assets.
2020
Increased participating interest ownership of EMP Malacca Strait S.A. and PT ITA in the Malacca Strait block to 100%.
2019
The Company, through its subsidiary PT EMP Energi terbarukan, starts its business in the field of renewable energy.
2018
Succeeded in implementing the third Non Pre-emptive Rights III to restructure the Company’s debt therefore resulting healthier financial condition in the future.
2017
Completed the Reverse Stock Split transaction with a ratio of 8:1 as a necessary step for a success debt restructuring to reduce financial burden and to improve the Company’s fundamentals.
2015
EMP Gebang Limited signed a Contract Extension on the Gebang Block in North Sumatera for 20 years period, with 100% WI in the block.
2014
The Company launched a new brand identity or new logo.
2013
• Acquired additional 41% WI in Tonga PSC from PT Capitalinc Investment Tbk and PT Capital Petroline for USD41.7 million. EMP’s stake in Tonga PSC went up to 94.3%.
• The Company divested 10% WI in Masela PSC. With this transaction, the Company’s net 2P reserves declined, however the earning from the sale of stake in Masela PSC was used for loan repayment and to deleverage the balance sheet.
• Acquired 75% shares in the Buzi EPCC block in Mozambique, Africa.
2012
• EMP completed the financial closing of the 10% acquisition of Masela PSC from Inpex. Consequently, EMP net 2P reserves increased by 138% to 531 million barrels equivalent.
• Tonga PSC Block has commenced the first oil production at the rate of 500 barrel per day from Tonga-01 Oil Well.
2011
• The Company completed 10% WI acquisition of Masela PSC from INPEX.
• Acquired 18.73% effective shares in ONWJ PSC for USD2.4/BOE.
2010
EMP completed the RI II, raising Rp4.84 trillion (USD519 million). The proceed was used to partly repay the outstanding loan (USD250 million) and to secure the acquisition of 10% shares in Masela PSC from INPEX. Post the loan repayment.
2009
• The Company obtained 2 new Coal Bed Methane PSC (Sangatta II and Tabulako) in Kalimantan.
• The Company signed an agreement with INPEX Masela Ltd. (“INPEX”) to acquire 10% WI in Masela PSC in the Arafura Sea, Indonesia.
2008
• Converted a loan from Minarak Labuan Co. (L) Ltd. (MLC) to KEL and PAN into shares in KEL and PAN. KEL and PAN are the owners of Lapindo. Consequently, EMP’s stakes in KEL and PAN were diluted to 0.0117783% dan 0.0009999% respectively.
• Acquired 53.4375% WI in Tonga PSC for USD11.8 million.
2007
• Completed transactions with Mitsubishi Corporation (Mitsubishi) and Japan Petroleum Exploration Co. Ltd. (JAPEX) as a strategic partner through the sale of new shares issued by the Company’s subsidiary, Energi Mega Pratama Inc. The results are that Mitsubishi and JAPEX have a total of 50% indirect WI in the Kangean KKS, while EMP has 50% indirect WI and received USD360 million from the transaction proceeds.
• Deconsolidation of Lapindo Brantas, Inc., KEL and PAN from EMP’s consolidated financial statements (in line with the Indonesian Accounting Standards).
2006
• Completed RI I raising Rp3.78 trillion to fund the purchase of assets of PT Tunas Harapan Perkasa (“THP”) including a Rp832 billion to support working capital requirements.
• Acquired THP amounted to USD308.6 million, owner of five separate PSCs via five wholly-owned subsidiaries.
2004
• The Company acquired PT Imbang Tata Alam (ITA).
• EMP acquired Kalila Energy Ltd. (KEL) and Pan Asia Enterprise Ltd. (PAN) which 100% owned Lapindo Brantas Inc (Lapindo).
• The Company successfully listed its shares in the Jakarta Stock Exchange (BEJ) with ENRG as the ticker code.
• Acquired 100% working interest of Kangean PSC through EMP Exploration (Kangean) Limited and EMP Kangean Ltd. EMP Kangean Ltd is the operator of Kangean PSC.
2003
The Company acquired RHI Corporation (RHI), shareholder of Kondur Petroleum S.A.
2001
PT Energi Mega Persada was established and known as an oil and gas exploration and exploitation company.