Jambi province supports Lemang PoD
Friday, July 10 2015 - 07:19 AM WIB
The Jambi provincial government has voiced supports for the Plan of Development (PoD) of the Lemang block owned by IDX-listed Sugih Energy Tbk and SGX-listed Ramba Energy Limited.
The support was expressed during the meeting on Wednesday between officials of the provincial administration and the ministry of the energy and mineral resources in Jambi. The ministry was represented by Djoko Siswanto, Director of Oil and Gas Upstream Business Oversight at the directorate general of oil and gas, while the provincial government was represented by the provincial secretary and head of energy and mineral resources office. Also present was upstream authority SKK Migas? representative for the southern Sumatra region.
?What is certain is that the Jambi provincial government fully supports (the PoD),? Joko told Petromindo.com.
The ministerial team was visiting the province as part of consultation on the PoD. The ministry always consults the local government before making a decision whether to approve a PoD. The Lemang PoD has passed the scrutiny of SKK Migas, has been approved by the agency and sent to the ministry for final approval.
After receiving supports from the Jambi government, the directorate general of oil and gas will sent the PoD to Minister of Energy and Mineral Resources for approval.
Based on volumetric study conducted by international petroleum expert De Golyer & Mac Naughton (D & M), the Lemang blocks has an estimated 511 million barrels of oil and 467 cubic feet of gas (gross recoverable prospective resources), Sugih Energy once said.
Sugih Energy has a 49 percent participating interest in the block through its subsidiary Eastwin Global Investment Ltd., while Ramba Energy, through its local subsidiary Hexindo Gemilang Jaya, holds 51 percent of the block and serves as operator.
Editing by Johannes Simbolon