CBM Asia Development Acquires Interest in South Sumatra Production Sharing Contract

CBM Asia Development Corp. announces that it has signed a Letter of Intent (“LOI”) with Batavia Energy Inc. (“Batavia”) to acquire 48 percent of South Sumatra Energy Inc. (“SSE”) which, together with PT Medco CBM Sekayu (“PT Medco”), holds a Production Sharing Contract (“PSC”) for coalbed methane on a 58,349 hectare block located in the South... 

Tag: commercial viability of coal bed methane production, sumatra prod, drilling coal mining south sumatera, sumater energy, sumatera energy

Verenex submits Final Appraisal Report and preliminary development plan for A1-47/02 Field in Libya

Verenex Energy Inc. announce that it has submitted a Final Appraisal Report for the A1-47/02 Field to the Area 47 Management Committee which includes representatives of Verenex, Medco International Ventures Limited and the Libyan National Oil Corporation (“NOC”). The Report recommends that the field be declared commercial as a first step in advancing a 50,000 bopd (gross) Phase 1 development... 

Tag: preliminary appraisal report

Indonesia denies reports of possible coal export quotas

Indonesia has denied that it will set a quota for coal exports as it wants to reserve the coal for future use. The reports had prompted rising interest in the country’s natural resources from energy-hungry China and India. The reports were baseless and the new mining law likely to be passed by Parliament by June would in fact provide more certainty for mining companies, said Simon Sembiring,... 

Tag: coal export from, biggest coal exporter, bharinto coal mining, pt kitadin, indonesian coal mining law

East Java mudflow linked to gas drilling

Indonesia’s disastrous mud volcano, linked to Australian company Santos, was probably caused by gas-drilling activities, a new scientific study says. The study, published in the US Geological Society of America (GSA) journal, GSA Today, says the East Java mudflow was likely caused by a nearby gas-drilling operation, and could continue for “many months and possibly years to come”. It... 

PT Apexindo Wins Sulawesi Drilling Contract

Indonesian drilling company PT Apexindo Pratama Duta has secured a US$3.476 million contract from the Pertamina-Medco E&P joint operating body for onshore drilling on Sulawesi island. Under the contract signed on Jan 15, the company will conduct onshore drilling on rig # 2 in the Senaro-Toli Block in Sulawesi, Apexindo corporate secretary Ade R. Saptari said in a statement to the Jakarta Stock... 

Medco Energi US Acquires Additional Acreage in the Gulf of Mexico

Medco Energi US LLC (MEUS) announced that it has recently closed the purchase of an additional lease in the Gulf of Mexico from Centaurus Gulf of Mexico, LLC. The new lease covers all of Brazos Area Block 437, located in 60′ of water in the Gulf of Mexico. The lease covers 5,760 acres of U.S. federal waters and carries a five year primary term in which to establish commerciality, and a perpetual... 

Bumi scraps $2.3b deal to sell coal companies

PT Bumi Resources, Indonesia’s biggest coal exporter, has canceled a US$3.2 billion deal to sell its two coal mining units to a consortium of local companies led by PT Renaissance Capital following a prolonged delay in the closing of the transaction. Bumi’s finance director Eddie Soebari told The Jakarta Post on Friday that his company was forced to cancel the deal after seeing no clear... 

Tag: samin tan 2009

Medco may build geothermal power plant in Sumatra

PT Medco Energi Internasional, Indonesia’s largest publicly traded oil company, may build a geothermal power plant in North Sumatra for state utility PT Perusahaan Listrik Negara after the winning bidder pulled out. PLN named Medco-led group to replace PT Geo Dipa Energi, picked last year as the preferred bidder to build the Sarulla plant, Djuanda Nugraha Ibrahim, acting president director of... 

Tag: sumatra as geothermal source, main contractors to build a geothermal power station, sarulla medco, how long did it take to build pt medco, when was pt medco in northern sumatra built