BPMIGAS, contractors sign 3 CBM working areas contracts
Monday, December 19 2011 - 01:53 PM WIB
Energy and Mineral Resoruces Minister Jero Wacik on Monday witnessed the signing of three coal bed methane (CBM) working areas contracts.
The working areas are Bangkanai III to be operated by PT Bangkanai Energi Resources, Bangkanai IV won by PT Bangkanai Jaya Perkasa and Tanah Laut CBM working area won by PT Asam-Asan Methan Gas.
The exploration investment commitment of the CBM WK holders in the first three years would reach a total of US$16.8 million. This comprises of US$1.8 million investment commitment for geology and geophysics (G & G) study, $6 million for drilling 6 core-holes, US$7.5 million for exploration wells and $1.5 million for 3 production test wells.
The government receives signature bonus of $3.5 million from the CBM working areas contract signing. (roffie/romel)