NuEnergy looking for partners in Rengat CBM PSC
Wednesday, June 6 2012 - 08:11 AM WIB
ASX-listed firm NuEnergy Gas Limited announced Wednesday it was looking to farm out its 100 percent owned Rengat CBM PSC in Sumatra.
NuEnergy did not mention the total stakes it wants to farm out in the block, only said that the move would help reduce future capex on its part by US$3-5 million and recoup costs.
The Rengat CBM PSC was awarded in 2009. Preliminary studies of the concession area have suggested that coal properties are suitable for CBM exploitation and commercial production and rank favorably with comparable global CBM producing basins.
NuEnergy also holds a 40 percent interest and is operator of Muara Enim PSC through its subsidiary PT Trisulsa CBM Energi.
Editing by Dadan Wijaksana