Medco, Phoenix to develop UCG project
Tuesday, June 20 2017 - 08:23 AM WIB
IDX-listed energy company PT Medco Energi Internasional Tbk and Australia-based Phoenix Energy have recently signed a preliminary joint cooperation agreement to develop underground coal gasification (UCG) project.
Medco President Director Tonny Prihatna Sastramihardja told Petromindo.com on Tuesday that the project would be developed at Medco?s oil and gas concessions in Tarakan (North Kalimantan) and South Sumatra.
?The point is that the UCG pilot project is temporarily only to convert syn-gas to electricity..... We actually can also apply it for other purposes (such as fertilizer and chemical),? he said.
The cooperation agreement once realized will consist of three phases of works from drilling to the development of a 30 MW power plant.
Tonny said that the company is still waiting for a new Minister of Energy and Mineral Resources regulation on implementation of UCG project. ?We further formalize cooperation between Medco Mining with Phoenix Energy (Australia) to implement UGC in Indonesia,? he said.
Editing by Reiner Simanjuntak