Continental, Bluline enter strategic alliance
Tuesday, July 7 2015 - 02:07 AM WIB
Continental Energy Corporation, an emerging international energy developer, announced Monday that it has entered into a strategic alliance agreement with Indonesia based Bluline Group, a family owned group of companies that specialize in private equity investments in food-energy-water (FEW) related businesses and infrastructure projects in Indonesia.
Continental said in a statement the alliance agreement defines Indonesia as an area of mutual interest in which Bluline and the company shall seek out and develop new energy related business opportunities of three types: 1) new green fields energy production and infrastructure ventures; 2) farm-ins to interests in existing projects, properties, and concessions; and 3) acquisitions of going-concern energy related businesses.
The statement said the alliance shall target the conventional, alternative, and renewable energy sectors to tap Indonesia's abundant petroleum, coal, hydropower, and geothermal resources, all of which offer local and regional energy and electrical power generation opportunities particularly those situations where it is possible, with innovative development, to integrate upstream resource production completely through to downstream products.
For example, the alliance is already conducting due diligence on "stranded" gas fields (with no current pipeline access to markets) for alternative development utilizing the gas, at or near the wellhead, to 1) generate and sell electricity, 2) supply compressed natural gas to municipalities or industries in a readily transportable form by truck or barge, or 3) process gas into value added products using gas-to-liquids technologies.
Editing by Reiner Simanjuntak