RE: Observation The sale of gas from Sekayu should begin sometime in the next 60 days, followed with drill results from hulu and lot's more news expected over the next few months, should get the SP to a much higher level. GLTA
Indonesian Medco inks first Sekayu CBM gas deal, to supply 200 Mcf/d 2012-17
Jakarta (Platts)--1Dec2011/521 am EST/1021 GMT
Indonesia's publicly traded oil and gas company Medco Energi Internasional has signed a memorandum of understanding to sell gas from its Sekayu coal bed methane block in South Sumatra to state-owned energy and mining company Perusahaan Daerah Pertambangan dan Energi, Medco Energi E&P senior manager of relations Joang Laksanto said Thursday.
This is the first contract to be inked for Sekayu CBM gas. Under the agreement, Medco would supply 200 Mcf/d of the CBM gas to PDPDE beginning April 2012 for a five-year period, he said, adding that PDPDE's purchase would fulfill electricity requirements of the local community in South Sumatra.