Arrow Energy eyeing Indonesian CBM blocks

ASX-listed energy firm Arrow Energy Limited reported on Thursday that it had lodged application with the Ministry of Energy and Mineral Resources to acquire four coal-bed methane (CBM) exploration areas in Sumatra and Kalimantan and has currently been in advanced negotiation stage.

The company reported in its quarterly report that it had teamed up with Transasia Group to acquire Barito CBM block in South Kalimantan (Arrow 70 percent, Transasia 30 percent), with state oil, gas firm Pertamina and state coal mining firm PTBA to acquire CBM lease in Tanjung Enim, South Sumatra, with Pertamina in Tanjung-1, South Kalimantan and on its own in Asam-Asam, South Kalimantan.

Government had said earlier it would soon award first CBM in January of February this year. (denny)