Nullarbor eyeing Indonesia?s CBM tender

ASX-listed firm Nullarbor Holdings Ltd. said that it was interesting to participate in the tender for coal bed methane (CBM) concessions in Indonesia.

 

The company said in its quarterly report on Wednesday that it had started discussions with several companies in Indonesia, Hong Kong and China with the view of forming joint venture and participate in the tender, which the Indonesian government is scheduled to hold later this month.

 

The company also planned to develop biodiesel project in Indonesia. The company is still waiting for the Indonesian government to grant a special biodiesel oil subsidy which will enable the company to start the biodiesel project.

 

Last year, the company said that it was in final negotiations with Indonesia’s state oil and gas firm PT Pertamina to form a joint venture (JV) on biodiesel project. (denny)