Jakarta. Energi Mega Persada (IDX: ENRG), an upstream oil and gas company under the Bakrie Group, has struck new oil at the South CPP Block in Riau and revived gas output from the Bentu Field, marking a dual boost to its production outlook and reserve base heading into 2026.

The company said the achievements form part of its broader strategy to strengthen Indonesia’s hydrocarbon reserves while accelerating operational growth this year.

Through its subsidiary EMP Tunas Energi, the company identified oil indications from the Cenako-1 Twin exploration well in the South CPP Block, drilled to a depth of 2,475 feet (754 meters). Based on well testing and preliminary subsurface analysis as of March 17, 2026, the Cenako structure is estimated to hold around 15.6 million barrels of original oil in place.

Vice President Director and Chief Financial Officer Edoardus Ardianto said the company is moving quickly to convert the discovery into commercially viable reserves.

“We will continue exploration and follow-up drilling activities to convert this discovery into developable reserves. We plan to acquire seismic data and drill three additional wells, with a total production potential of up to 500 barrels of oil per day,” he said in a statement on Wednesday.

President Director and Chief Executive Officer Syailendra S. Bakrie added that the discovery reflects the company’s long-term commitment to supporting national energy resilience.

“We will accelerate the conversion of this discovery into commercial production to create value for all stakeholders. This finding demonstrates EMP’s contribution to increasing national hydrocarbon reserves,” he said.

Separately, the company also reported progress at the Bentu Block, where its subsidiary EMP Bentu Limited has successfully reactivated the Bentu Field, particularly the previously idle Bentu-2 well.

The reactivation followed the completion of a production pipeline in December 2025 and workover activities carried out between February and mid-March 2026.

Flow test results show the Bentu-2 well can produce around 5 million standard cubic feet of gas per day (MMSCFD), with total field output projected to reach 15 MMSCFD. The company noted that project investment came in below budget, reflecting operational efficiency.

EMP said the South CPP discovery and Bentu reactivation will serve as key drivers for future production growth, while reinforcing its contribution to Indonesia’s national oil and gas output targets.

As of Mar. 25, ENRG shares jumped 5.69% or 80 points to Rp 1,485 per share, bringing its market capitalization to Rp 39.10 trillion ($2.31 billion).