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SKK Migas Extends Rengat PSC Exploration Period to November 2019

Source: www.gulfoilandgas.com 1/29/2016, Location: Asia

NuEnergy Gas Limited (NGY) wish to update that the Rengat Production Sharing Contract (PSC) drilling of the exploratory wells, RE-03, RE-04 and RE-05 has been successfully completed to the targeted depth.

Further Geological and Geophysical studies to complement existing data will be conducted to identify and map coal continuity across the basin and to understand the reservoir characteristics for further development.

In addition, the Indonesian regulatory authority, SKK Migas has granted a one- time extension of the Exploration Period to a maximum period of four years to 29 November 2019.

The Rengat PSC covers 2,395km2 of Central Sumatra basin and lies in-between prolific oil and gas concessions (located in the Central Sumatra basin within the vicinity of a major gas pipeline from Jakarta to the Chevron Duri Steam Flood project and related infrastructure).

NGY has a 100% working interest in the Rengat PSC and is the operator of the PSC.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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