Pulang Pisau CBM block to be relinquished
Thursday, January 8 2015 - 01:59 AM WIB
By Bernard Loebs
PT. Sigma Energi Bumi, a coal bed methane (CBM) production sharing contractor, said on Wednesday it wll relinquish its Pulang Pisau CBM PSC in Central Kalimantan to the government.
Irzan Yuswar, General Manager of Pulang Pisau CBM PSC, said the firm has drilled three core well, but ?the result is bad?.
The Pulang Pisau CBM PSC spans an area of 735.5 sq km in Pulang Pisau regency, Central Kalimantan province.
The PSC was awarded to the consortium Sigma Energi and Blue Tiger Co. Ltd with Sigma Energi as the operator . Signed on August 4, 2009, the contract is for a 30-year term. A signature bonus of US$ 1 million was paid upon the singing of the contract.
Editing by Johannes Simbolon