PKN sets $1.5m for exploration in Rangau concession

By Cepi Setiadi

Coal mining company PT Pesona Khatulistiwa Nusantara (PKN) has set aside about US$ 1.5 million in capital expenditure for drilling activities at its coal concession in Rangau area, Bulungan regency, North Kalimantan.

Tria Suprajeni, a director at the firm, told Petromindo.com that the company is targeting to start exploration activity in the middle of this year.

?Now we are still waiting for a IPPKH forestry license,? Tria said adding that the Rangau concession measures about 4,000 hectares.

Editing by Johannes Simbolon