PO&G to increase energy investments in Indonesia

Independent energy resources development company Pacific Oil & Gas Limited (PO&G) announced Thursday that it is looking to increase its investments in Indonesia in both oil and gas exploration and power plant project development.

PO&G, in cooperation with various strategic partners, has more than 35 years of experience in developing world-class energy projects.

?Our business got its start in Indonesia, where we have made investments in three upstream oil and gas blocks in Sumatra,? said Kusnan Rahmin, President of PO&G Indonesia in a statement. ?Our goal is to partner with state-owned oil and gas company Pertamina to develop new oil and gas blocks, as well as construct and operate new gas-fired power plants that will help meet growing energy demands.?

PO&G said it has successfully built and operates the first 100 percent foreign owned Xiamen Combined Cycle Gas Turbine (CCGT) power plant (780 megawatts) in Fujian Province, China. Power plants fired by natural gas can start up more efficiently than traditional coal-fired power plants. Natural gas fired power plants can also reduce greenhouse gas emissions and improve air quality when compared to traditional coal-fired power plants.

?The government is approaching the half way mark of a five year program to develop CCGT power plants by 2019,? said Kusnan. ?At PO&G, we believe we have the knowledge and expertise to help the government achieve its goal.?

PO&G?s current key assets are located in Indonesia and China, with a liquefied natural gas (LNG) processing and export terminal in development in Canada.

PO&G has partnered with Pertamina and has a 25 percent non-operating interest in the Jambi Merang block in South Sumatra Province. The block produces 120 billion BTU of gas and 6,000 barrels of liquids per day.

PO&G has a 55 percent interest in the Kisaran block in North Sumatra. Upstream oil and gas authority SKKMigas and the Ministry of Energy and Mineral Resources have approved the plan of development (POD) of the block. PO&G also has a 55 percent interest in non-conventional oil and gas exploration block in MNK Kisaran.

In China, in addition to the Xiamen CCGT Power Plant, PO&G is building a new 800 megawatt Wuxi CCGT power plant in Jiangsu Province, China.

PO&G also has a 35 percent interest in the Rudong LNG Receiving Terminal in Jiangsu Province, China, with an annual capacity of 6.5 million tons.

In Canada, PO&G is developing the Woodfibre LNG Project, which has received approval to export approximately 2.1 million metric tons of LNG per year for 40 years.

Editing by Reiner Simanjuntak