NuEnergy plans to submit Tanjung Enim PSC before end 2017
Wednesday, October 4 2017 - 01:07 AM WIB
ASX-listed NuEnergy Gas Limited said it plans to submit the plan of development (POD) of Tanjung Enim PSC in Indonesia?s South Sumatra Province before the end of this year to the Ministry of Energy and Mineral Resources, with POD approval anticipated by the first half of next year.
The company said in a statement last week it has started the POD preparations, and is working together with Indonesia?s upstream oil and gas authority SKK Migas.
?The POD preparation has commenced and the process that includes the field development planning, permitting, environmental impact assessment and gas sales negotiation will take approximately six months,? the company said.
The company said that its two partners in Tanjung Enim PSC, Indonesia?s state-owned PT Pertamina and coal miner PT Bukit Asam Tbk, have both given their full commitment to the POD preparation and the long-term development of the PSC.
NuEnergy announced last week it has executed a Memorandum of Understanding (MoU) with PT Pertamina Gas, a subsidiary of Indonesia?s state-owned oil and gas firm PT Pertamina, to investigate the supply of coal bed methane (CBM) gas from Tanjung Enim PSC to Pertamina Gas for distribution to consumers in Sumatra.
Under the MOU, NuEnergy and Pertamina Gas have agreed to exchange information and to jointly evaluate the economic viability of CBM gas supply from Tanjung Enim PSC initial POD with the aim to utilize this CBM gas to fulfil Pertamina Gas consumer needs in Sumatra.
Editing by Reiner Simanjuntak