NuEnergy reveals first shale gas estimate in its PSCs

By Puspita Maylana Devi

ASX-listed NuEnergy Gas Ltd said the first independent shale gas resource estimate study on its three PSCs -- Muara Enim CBM, Muara Enim II CBM and Rengat CBM has been completed and resulted in a total resource estimate of over 6 tcf.

The estimate has been reported by the Institute of Technology Bandung (ITB) and will be further evaluated by joint study groups with the government, the company said in a statement.

NuEnergy, as an existing PSC holder in Indonesia, has pre-emptive rights to develop and commercialize shale' gas resources in its PSCs.

The independent study revealed that the Muara Enim block contains shale gas estimate of 1.7 tcf, Muara Enim II 2.7 tcf and Rengat 1.6 tcf.

Editing by Dadan Wijaksana