Indian company awarded CBM block
Saturday, March 24 2012 - 02:16 AM WIB
By Er Audy Zandri
Indian based oil and gas company Deep Industries Ltd has signed a contract with the Indonesian government for the award of a coal bed methane (CBM) block in the country for CBM gas exploration for a period of 30 years.
The Working Area is GMB Melak Mendung III. The auction winner is Deep Industries Ltd consortium with Monnet Ispat & Energy Ltd.
The Melak Mendung III block located in the East Kalimantan Basin has a total area of 995.7 square kilometers.
The Deep Industries Ltd stock was reported to be closed at 1.65 percent higher on Friday.
Editing by David Mustakim