Medco, Kogas cooperate to develop CBM
Friday, March 16 2012 - 01:27 AM WIB
The Company said in a press statement on Thursday that the MOU was signed by the Chief Operation Officer of Medco Energi, Frila B. Yaman and Vice President of KOGAS Ik-Hyun Park on Wednesday (14th March 2012) in Jakarta.
Medco Energi and KOGAS will jointly identify and study the best possibilities in implementing projects that can monetize and add value to CBM, including business opportunities relating to CBM industry, such as Liquefied Natural Gas (LNG), pipelined gas, and Dimethyl Ether (DME).
Currently, Medco Energi has signed three Production Sharing Contracts (PSCs) of CBM, located in South Sumatra and overlaying with Medco Energi?s oil and gas PSCs working areas.
The three CBM PSCs are in Sekayu, Muralim, and Lematang blocks. Medco Energi is the operator in the Sekayu CBM PSC and a non-operating partner in the Muralim CBM PSC, operated by Dart Energy.
"One of our programs in 2012 will be to realize the utilization of CBM gas for electricity. This aligns with Medco Energi?s support of the government?s program of Electricity from CBM," said Chief Operation Officer of Medco Energi, Frila B. Yaman.
President Director & CEQ Medco Energi Lukman Mahfoedz said that the MOU was the second cooperation the Company has established with KOGAS, wherein the first cooperation took place in Senoro gas development project in Central Sulawesi , both for upstream and downstream activities.
"We hope there will be other collaborations that can interlace with KOGAS in development activities of Medco Energi?s upstream and downstream oil and gas in the future," he said.
"We are proud that KOGAS the largest LNG players in Asia has selected Medco Energi to become partners in the development of gas in Indonesia , either natural gas or CBM," said Hilmi Panigoro, Medco Energi President Commissioner, on the same occasion.
"This signing shows KOGAS? confidence towards Medco Energi and demonstrates that the Company always remains as ?the Energy Company of Choice? for its partners," he said.
Editing by Benget Besalicto Tnb.