NuEnergy Has Indonesia CBM OK

Australia-listed but Indonesia-focused CBM explorer NuEnergy Gas said January 15 it has received gas reserves certification from the Indonesia Research and Development Center for Oil and Gas Technology (LEMIGAS) for the Tanjung Enim production sharing contract.

The LEMIGAS has confirmed 86.06bn ft³ of proved reserves and 78.84bn ft³ for probable reserves giving a total gas reserves of around 165 Bscf for the target development areas covering 33 km² (or 13% of the Tanjung Enim PSC acreage).

This will enable NuEnergy to deliver about 25mn ft³/d of gas to the market through the development of over 200 wells once the development plan is approved, the company said.

“This certification is an endorsement and a very clear indicator of the underlying prospects of the Tanjung Enim asset and is in line with our expectation of the coal seams in the South Sumatra region,” NuEnergy deputy executive chairman, Kee Yong Wah said.

NuEnergy holds six onshore production sharing contracts, across South Sumatra, Central Sumatra and East Kalimantan.