Elnusa, partners get PoD approval for C. Kalimantan gas project

UK oil firm Sound Oil announced Thursday that Elnusa Bangkanai Energy Ltd ("EBE") the operator of the Bangkanai PSC onshore Central Kalimantan had received approval from BP MIGAS for its plan of development POD of the Kerendan area gas reserves.

Following its recent acquisition of Mitra Energia Limited, Sound Oil has an effective working interest of 34% in the Bangkanai PSC. Elnusa has 51 percent interest in the block, with 15 percent owned by Medco Energi.

Karendan gas field, which was discovered in 1982, is estimated to contain about 40 billion cubic feet (BCF) of proven gas reserves. The gas reserves are potentially to be increased up to 190 BCF. Gas from the field would be sold to a proposed power plant project. (alex)