Two firms connect to pursue Indonesia CBM

By OGJ editors

CBM Asia Development Corp., Vancouver, BC, and Continental Energy Corp., Jakarta, formed a joint study and bid group to investigate coalbed methane opportunities in Indonesia.

The two firms will jointly and exclusively study selected areas in Indonesia to identify geologically favorable areas to be jointly pursued for direct acquisition of CBM production sharing contracts offered by the Indonesian government. Acquisitions would be by public tender or direct proposal tender conducted under joint study arrangements.

Acquired assets would be shared 75% by CBM Asia as operator and 25% by Continental. CBM Asia would pay 100% of general and administrative costs, while all PSC acquisition costs and other joint exploration and drilling costs would be shared proportionally.

The Indonesian government has signed 39 CBM PSCs since 2008.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...