Capitalinc Investment?s units get more time for exploration
Saturday, January 10 2015 - 01:42 AM WIB
IDX-listed PT Capitalinc Investment Tbk announced on Friday that its subsidiary, PT Cahaya Batu Raja Blok (CBRB), has received approval from the Directorate General of Oil and Gas to get additional time for exploration in its wholly-owned Air Komering PSC in South Sumatra.
The approval issued on Dec. 31, 2014 is effective for two years from Dec. 12, 2014 through Dec. 11, 2016, the firm said in a statement. The PSC was signed on Dec. 12, 2004.
Besides, the firm said, another subsidiary, PT Kutai Etam Petroleum, the 100 percent owner of Seinangka-Senipah PSC in East Kalimantan, has been given by the directorate general two years and six months (from Dec. 12, 2014 through June 12, 2017) in ?replacement time related to swap area?. The PSC was signed on Dec. 12, 2004.
In the statement, the firm did not explain what it meant by ?replacement time related to swap area?.
Editing by Johannes Simbolon