PGN, Medco in CBM deal

IDX-listed state gas distribution firm PT PGN (Persero) has signed an MoU to jointly undertaking studies to develop CBM potential in South Sumatra with another IDX-listed firm PT Medco Energi Internasional Tbk.

Under the MoU both parties will jointly determine prospective area and to figure out ways to develop the CBM potential.

?PGN continuously seeking for new gas supply source including from unconventional gas like CBM, which potential is enormous in South Sumatra, where PGN?s transmission line is located,? PGN?s release said. (alex)