NuEnergy Gets Approval for Muara Enim, Rengat PSCs

Indonesia’s upstream oil & gas regulator, BPMigas has approved NuEnergy Ltd’s detailed 2012 work program and associated budgets for both Muara Enim and Rengat PSCs, Indonesia Today reported.

Meanwhile, NuEnergy also says environmental monitoring for both blocks is ongoing and Environmental Assessment Plan has been completed and will be presented to BPMigas during the second quarter of 2012.

On its exploration plan update, a second core well is committed to be drilled on Muara Enim PSC during next quarter and will be completed together with the testing of cores and lab analysis during the same period.

Muara Enim PSC is operated by the wholly owned subsidiary of NuEnergy, PT Trisula CBM Energi. NuEnergy's joint venture partner is PT Pertamina (60%).

Additionally, negotiations with land owners for a first drill pad in Rengat PSC have been completed and compensation negotiations for a second drill pad are progressing.

NuEnergy has planend for two exploration drilling wells to seek for CBM reserves. It has contracted to acquire Indon CBM Ltd, which owns a number of coal-bed methane interests in Indonesia.