New high for Dagang NeXchange Bhd
KUALA LUMPUR: Globaltec Formation Bhd’s (GFB) subsidiary NuEnergy Gas Ltd and Indonesia’s PT Pertamina Gas have inked an MoU to look into the supply of coal bed methane gas from the Tanjung Enim production sharing contract.
GFB told Bursa Malaysia on Thursday its Australian listed NuEnergy Gas and Pertamina Gas would study the feasibility of distribution to consumers in Sumatra.
It said the MoU was an important step for the negotiation of the gas sales and supply heads of agreement including supply period, supply volume and price.
To recap, NuEnergy had received the Indonesian Government’s approval to prepare the plan of development for the Tanjung Enim PSC.
GFB said the proposal was to develop two target areas, in the north and north-west of the PSC where NuEnergy has focused exploration, drilling and pilot production activities over the last eight years.
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