NuEnergy executes gas supply MoU with Pertamina Gas
ASX-listed NuEnergy Gas has advised that it has executed an MoU with PT Pertamina Gas, a subsidiary of PT Pertamina, one of its joint venture partners in the Tanjung Enim PSC, to investigate the supply of CBM gas from the PSC to consumers in Sumatra.
NuEnergy advised that under the MoU it and Pertamina Gas have agreed to exchange information and jointly evaluate the economic viability of CBM gas supply from the PSC.
NuEnergy stated that it has received government approval to prepare the plan of development (POD) for the PSC, with the proposed concept for initial plans in two target areas, in the north and north-west of the PSC, where it has focused exploration, drilling and pilot production activities over the last eight years.
“We are delighted to be working with Pertamina Gas to be part of the domestic gas supply project in Sumatra,” NuEnergy Deputy Executive Chairman Kee Yong Wah commented.
“Additionally, we acknowledge the support of our joint venture partners, PT Pertamina and PT Bukit Asam, two leading state-owned energy and resources companies, in our discussions with Pertamina Gas at this important stage of the POD preparation.
“Negotiations with a potential customer of the scale of Pertamina Gas at this stage further strengthens our confidence in our ability to produce significant shareholder value.”