NuEnergy obtains approval to prepare Tanjung Enim POD

By Romel S. Gurky

ASX-listed NuEnergy Gas Limited announced Thursday that it has received approval from the Indonesian upstream oil and gas authority SKK Migas to prepare the initial Plan of Development (POD) for the Tanjung Enim PSC, South Sumatra.

NuEnergy said in a statement it will work closely with SKK Migas on the POD preparation with the objective to submit the POD proposal to the Indonesia Ministry of Energy and Mineral Resources through the Head of SKK Migas before year end.

?Our two partners, PT Pertamina and PT Bukit Asam, two leading state‐owned energy and resources companies, have both given their full commitments to the POD preparation and to the long‐term development of the PSC,? the company said in the statement.

The proposed concept for the initial POD plans for the development in two target areas, in the north and north‐west of the PSC where NuEnergy have focused exploration, drilling and pilot production activities over the last 8 years.

NuEnergy said it will focus its effort on the timely execution of the POD preparation process and to deliver the proposal by the end of the year. During the POD preparation, NuEnergy will also confirm target gas buyers and negotiate optimal gas sales agreements.

?This approval marks a significant milestone for NuEnergy as we work towards delivering Indonesia first unconventional gas supply. The support from our PSC partners is a clear indicator of the prospectivity and the underlying value of the Tanjung Enim asset,? said NuEnergy Deputy Executive Chairman, Kee Yong Wah in the statement.

Editing by Reiner Simanjuntak