Gulf Oil and Gas accountACCOUNT

Corporate Update & Company Presentation

Source: 9/15/2016, Location: Asia

Andalas Energy and Power Plc, the AIM listed Indonesian focused oil and gas exploration company (ADL), is pleased to provide an update on its activities in line with its strategy to roll out gas-to-power projects in Indonesia, which it believes can make a significant contribution to the country’s power shortfall at the local level.

In addition, the Company is pleased to advise that an updated presentation will be uploaded to its website at It is an update to the Company’s previous presentation and highlights the significance for Andalas of the recently announced agreement between it and PT Pertamina (Persero) (‘Pertamina’), Indonesia’s national oil company. The presentation will be used in media and analyst meetings taking place this week and no price sensitive information is included in this presentation.

Partnership with Pertamina to Monetise Multiple Gas Fields in Indonesia
• First meeting held on Friday 9 September 2016 between the Company and Pertamina
• Two committees established to commence work on the conceptual plans which will be reviewed by both partners:
o Power Generation Working Committee – to be chaired by Simon Gorringe, COO and Executive Director of Andalas
o Gas Supply Working Committee – to be chaired by representatives from Pertamina
• Work underway to select five initial stranded gas fields within Pertamina’s acreage in Riau, Jambi and South Sumatra provinces which are suitable for sub-100 MW gas-to-power development via an independent power project

Tuba Obi East Concession (‘TOE’), Sumatra
• The approval process by Pertamina is underway to confirm the Company’s technical proposal to test the gas bearing Air Benakat Formation (‘ABF’) on TOE via the recompletion of the existing TOE-1 well
o The technical proposal includes the recompletion design, tender documents, and mobilisation plans for the workover of TOE-1
• In anticipation of final approval being issued, the tender process for services and equipment to undertake the workover of TOE-1, has commenced – further updates will be provided once this process has been completed
• The TOE-1 workover is the first of a multi-phase programme, and will support gas processing and power plant front-end engineering and design studies, enable a gas reserves assessment to be completed and gas and power sales negotiations to commence
Andalas CEO, David Whitby, said: “We are entering an exciting phase in the development of Andalas as a leading integrated gas to power producer focused on Indonesia. We are confident that during this period, the excellent work carried out by our first class team of oil and gas professionals over the past 12-18 months ensures the Company is in a strong position to capitalise on the substantial opportunity within our partnership with Pertamina.

I look forward to providing further updates, as we focus on making a meaningful contribution towards the Government of Indonesia’s target of adding 35,000 MW of new capacity by 2019 for the benefit of both the Indonesian population and our shareholders.”

Exploration News in Indonesia >>

Angola >>  5/14/2019 - After Kalimba, Afoxé and Agogo, the Ndungu discovery further demonstrates the exploration potential contained in the block’s deeper geological sequenc...
Ghana >>  5/9/2019 - Eni announces a gas and condensate discovery in CTP-Block 4, offshore Ghana. The well, drilled on the Akoma exploration prospect, proved an estimated ...

Uganda >>  5/9/2019 - Uganda has launched a second round of competitive bidding for five oil exploration blocks in the west of the country, where it has already discovered ...
Bahrain >>  5/2/2019 - Following a joint study conducted by Eni in 2016 and the signature of the Memorandum of Understanding dated 13th January 2019, Eni has signed an Explo...

United Arab Emirates >>  5/1/2019 - ADNOC has launched Abu Dhabi’s 2019 Block Bid Round, opening for bidding five new onshore and offshore exploration blocks with substantial oil & gas p...
New Zealand >>  4/30/2019 - New Zealand Petroleum & Minerals has launched the delayed Block Offer 2018 tender for petroleum exploration permits. The release area is restricted to...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 

Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

Oil & Gas Projects in Indonesia >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.