NuEnergy Gas receives approval to prepare development plan for Tanjung Enim PSC
NuEnergy Gas has secured approval from the Indonesian Special Task Force to prepare a plan of development (POD) for the Tanjung Enim production sharing contract (PSC).
In order to prepare the POD, the company will now work with the task force for Upstream Oil and Gas Business Activities (SKK Migas).
Thereafter, the POD proposal will be submitted to the Indonesia Ministry of Energy and Mineral Resources by the end of this year.
NuEnergy’s partners in the PSC are state-owned energy and resources companies PT Pertamina and PT Bukit Asam.
Through the POD, the company is planning to develop two target areas, in the north and north-west of the PSC, where it has been carrying out exploration, drilling and pilot production activities over the last eight years.
NuEnergy Gas deputy executive chairman Kee Yong Wah said: “This approval marks a significant milestone for NuEnergy as we work towards delivering Indonesia first unconventional gas supply.
“The support from our PSC partners is a clear indicator of the prospectivity and the underlying value of the Tanjung Enim asset.”
In addition, the company will confirm target gas buyers and work on gas sales agreements during the POD preparation process.
Holding six onshore PSCs across South Sumatra, Central Sumatra and East Kalimantan, NuEnergy is engaged in the development of unconventional gas assets in Indonesia.