Medco, Saka divest interests in Lematang CBM PSC
Monday, February 27 2017 - 09:30 AM WIB
PT Medco CBM Lematang and PT Saka Energi Indonesia had last year divested their entire interests in the Lematang CBM block in South Sumatra Province to partner PT Methanindo Energy Resources.
This was said by Head of Hydrocarbon Non-Conventional Unit at upstream oil and gas authority SKK Migas, Bhramantyo K. Gunawan to Petromindo.com on Monday.
Methanindo now owns 100 percent interest in Lematang CBM PSC.
President Director of Saka Energi, Tumbur Parlindungan confirmed that the company no longer have interest in the CBM block. Meanwhile, Medco declined to provide comment.
The Lematang CBM PSC covers an area of 805.8 sq km and is situated with the South Sumatra Basin in South Sumatra Province. The PSC was signed on August 1, 2011 and was awarded to a consortium comprising PT Medco CBM Lematang, PT Saka Energi Indonesia and PT Methanindo Energy Resources.
Editing by Reiner Simanjuntak