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Indonesia CBM Reserves Certification for Tanjung Enim PSC Initial POD

Source: www.gulfoilandgas.com 1/15/2018, Location: Asia

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NuEnergy Gas Limited (NuEnergy) is pleased to announce that it has received the coal bed methane (CBM) reserves certification from the Indonesia Research and Development Center for Oil and Gas Technology (commonly referred to as LEMIGAS) for the Tanjung Enim Production Sharing Contract (TE PSC) initial Plan of Development (POD) target development areas.

LEMIGAS is the Indonesian government research & technology institution operating in the area of upstream and downstream oil and gas business and has key roles in the development of the oil & gas industry through research, engineering and development activities.

The Indonesian CBM reserves certification is one of the required processes to be administered by a state agency such as LEMIGAS in the CBM POD preparation and forms the basis of the overall POD. Once the POD is approved, CBM commercial development may commence for that specified resource.

The CBM reserves certification has confirmed 86.05Bscf for P1 and 78.84Bscf for P2 totalling ~165Bscf for the target development areas covering 33 km2 (or 13% of the TE PSC acreage).

This will enable NuEnergy to deliver about 25 MMSCFD to the market through the development of over 200 wells once the POD is approved.

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