PAX panax geothermal limited

ngebel

  1. 371 Posts.
    the old articles below have pricked my ears up. Ngebel the 2nd largest geothermal area in indonesia? approvals locked in!


    Geothermal Energy in Ngebel the Second Largest Source in Indonesia
    Wednesday, 24 September, 2008 | 14:51 WIB

    TEMPO Interactive, Surabaya: The East Java provincial government hopes that it will be able to manage the geothermal energy source that has emerged in Ngebel, Ponorogo.

    “The energy in Ngebel is the second largest geothermal source in Indonesia,” said the Governor’s official Setia Purwaka yesterday (23/9).

    He explained that the results of research carried out by the provincial government showed this geothermal energy to be natural underground energy.

    Exploration is needed in order to be able to make use of the energy.

    “To do this, we will need a legal base in the form of a regional regulation,” said Setia.

    He said he hoped the East Java Regional House of Representatives (DPRD) could arrange this regulation as soon as possible.

    ROHMAN TAUFIQ

    Ngebel geothermal development gets green light from council
    The Jakarta Post, Surabaya | Wed, 11/05/2008 10:35 AM
    A | A | A |

    East Java will utilize a huge deposit of geothermal energy in Ngebel to help diffuse the prolonged power crisis in Java and Bali.

    Ngebel is located at the border of Ponorogo and Madiun regencies.

    The energy-harnessing plan got the green light from the provincial legislative council in Surabaya on Monday. They endorsed a draft bill drawn up at a plenary session for the geothermal development project.

    All factions at the legislative council gave their political support for the geothermal resource on a number of conditions: The exploration must prove it will positively impact on local people financially, and meet safety and ecological guidelines.

    The joint democratic justice faction insisted on referring to Chapter 33 of the amended Constitution on natural resources, which states that the provincial government must rigidly regulate the exploration to ensure economic benefits for local populations.

    "The energy exploration must comply with the bylaw which requires preliminary surveys and feasibility studies be conducted, and also that exploration permits are obtained and activities remain transparent. That way, investors will not become an *ATM' (automatic teller machine) for the bureaucracy through the permit issuance procedure," spokesman for the joint faction Daisy Margaret said at the plenary session.

    She said her faction would closely monitor proceedings because the bylaw stipulates that the governor has major authority in overseeing the exploration.

    The joint faction reminded the legislative council and the government about possible impacts the geothermal exploration could have on local people and the environment, saying "We must learn from the Lapindo mudflow disaster, which displaced thousands of people, damaged their assets and destroyed the environment."

    Daisy said the investors are required to carry out a CSR program to empower local people and generate jobs for local workers once exploration begins.

    Spokesman for the United Development Party (PPP) faction Mundjidah Wahab said the geothermal exploration had to be based on a comprehensive study and should be undertaken primarily to address power shortages in Java and Bali.

    Sudono Syueb, spokesman for the National Mandate Party (PAN) faction, said the project should be given top priority, so that power shortages can cease causing losses to investors and consumers in the provinces.

    Panax began to dig Ngebel

    By

    Friday, July 1, 2011 | 1:25 pm

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    JAKARTA: Panax Geothermal Ltd, the owner of the concession of four geothermal projects in Indonesia, claiming to have a significant data from the dig two new wells in the geothermal lake Ngebel, Ponorogo, East Java, with a capacity of 165 Megawatts (MW).

    "Two wells we dig depth of 500 meters and the temperature was 200 ° C essentially. Of exploration, reservoir rocks, the data is below a depth of 1,000 meters with a temperature of 200 ° Celsius, "said Panax management in an official statement today

    Panax is described as the high margin on Ngebel project, work on the project at the foot of Mount Wilis was with PT Bakrie Power, a subsidiary of PT Bakrie and Brothers Tbk. Composition of 35% shares: 65%, but Panax is also acts as the operator.

    Company based in Milton, Queensland is also teamed with Bakrie in two other geothermal projects, namely in Sokoria, Flores (30 MW) with a composition of 45%: 55%, and in the Dairi Prima, North Sumatra (35 MW) with 51 servings %: 49%.

    In addition to these two projects, Panax also has a 95% stake in geothermal project in Jambi is still exploratory stage. All the electricity generated from the project guaranteed selling price of U.S. $ 7.55 per kwh of the Government of Indonesia with a 30-year contract period.

    In East Java alone there are 11 geothermal sites with a capacity of 1100 MW. A number of big names join fight over the resource. Besides Bakrie, Medco Group also has controlling entry and geothermal projects Ijen, Banyuwangi (110 MW) through PT Medco Geothermal Light.

    Geothermal projects in Indonesia attracted many investors because in addition to the relatively high rate guarantee before, the cost of drilling geothermal wells are only about U.S. $ 5 million per unit wells alias is much lower than the cost of drilling oil and gas wells which U.S. $ 15 million per unit wells. (Bs

    Panax-Bakrie Drilled Two Wells in Ngebel Geothermal

    Resources Headlines
    Thursday, 30 June 2011 09:35

    Panax-Bakrie Drilled Two Wells in Ngebel Geothermal

    Panax-Bakrie Drilled Two Wells in Ngebel Geothermal | Photo:panaxgeothermal.com.au

    Theindonesiatoday.com - Panax Geothermal Ltd and Bakrie Power consortium has drilled two slim hole wells in Ngebel geothermal project, East Java.

    Panax claimed it is presently acquiring significant volume of data on its Ngebel Geothermal Project awarded to Bakrie Power by East Java provincial administration last year.

    The company says advanced exploration development, substantial prior exploration works has completed. The project has more than 200 degrees Celsius of temperature range and drilling less than 2,000 meters depth.

    A number of explorations have been undertaken, including a number of temperature gradient wells, along with detailed geological mapping, geochemistry works for water and gas, thermal manifestation chemistry, heat flow modeling, heat flow mapping and geothermometry work.

    Two slim hole wells have already been drilled to a depth of about 500 meters, with a bottom hole temperature of circa 200 degrees Celsius. Reservoir temperature is predicted at 200 degrees Celsius at 1,000 meters depth.

    Panax has cooperated with PT Bakrie Power to develop the 165MW Ngebel Geothermal Project with shareholding composition of 35:65 where Panax acted as the operator. The project has commercially attractive power tariff, guaranteed for 30 years. ([email protected])

    Bakrie & Brothers, the holding company for various business units owned by the Bakrie family, plans to spend $5 billion building infrastrucutre projects over the next five years, an executive said.

    Bobby Gafur Umar, president director of Bakrie & Brothers, told Investor Daily on Wednesday that the company’s prospective projects included toll roads, water and power plant projects. Investor Daily is the sister newspaper of the Jakarta Globe.

    He said Bakrie & Brothers’ interest in infrastructure came from its desire to help the government achieve its long-term economic goals. Out of the Rp 2,000 trillion ($234 billion) needed for infrastructure, he said, the government could only finance 20 percent, leaving it to the private sector to cover the gap.

    The company has already signed an agreement with South Korea’s Samsung to develop and operate a power plant in Tanjung Jati, East Java. Other projects in the near future include a 150 megawatt geothermal power plant in Telaga Ngebel, Central Java, and a 33 MW geothermal project in Sukoria, East Nusa Tenggara.

    Bobby said Bakrie & Brothers would invite Australia’s Panax Geothermal to join the projects. It also plans to build power plants in East Kalimantan.

    “Total investment for our power projects in the next three to five years is between $2.5 to $2.6 billion,” he said.


    below some older news surrounding bank support for ngebel.

    exploration-Ijen Ngebel
    Online: Tuesday, March 30, 2010 | 15:33 pm ET

    (Dok. kabarbisnis.com)
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    SURABAYA, kabarbisnis. Com: PT Bank Jatim ready to disburse funding for geothermal energy exploration in Belawan, Ijen (Bondowoso) and Lake Ngebel (Roxburgh).

    "We will support the development of geothermal energy in Ijen and Ngebel. That's for the electricity needs of East Java in the future. East Java provincial government has been an intense process. Let's wait, it will also involve foreign investors. Bank of East Java is ready, "said Managing Director of Bank JatimMuljanto in his office, Jalan Basuki Rahmat, Jakarta, Tuesday (30/3/2010).

    According to him, the prospects for development of geothermal energy (geothermal) is very good. Abroad, the use of geothermal energy is already very familiar in order to support the electrical facilities.

    However, Muljanto can not ensure that funds will be disbursed to finance energy projects. "To be sure trillions of dollars. Later we take the percentage, just waiting for the amount of funds, "he explained.

    Current auction process Mining Working Area (WKP) and Belawan Ngebel-Willis-Ijen has taken place. Ngebel-Wilis area alone have the energy reserves of about 120 megawatts electric (MWe).

    Muljanto added, it not only supports the development of geothermal energy in Ngebel and Ijen. Bank of East Java support geothermal development in East Java at about 11 sites the distribution of geothermal energy that can be worked out, such as Pacitan, Madison, Mojokerto, Probolinggo, Sumenep, Banyuwangi, and Situbondo.

    When contacted kabarbisnis. Com before, Tuesday (23/3/2010), Said Amin Bondowoso Regents asked the central government to assist and facilitate the utilization of geothermal energy in the district. Exploration of geothermal energy that can move the economy in Bondowoso mendinamisasi.

    "We ask the government to help accelerate the process of geothermal energy exploration in Belawan, Bondowoso, in order to further drive the economy of society," said Amin Said.

    Amin said the request was submitted to the government, in this case the Ministry of Energy and Mineral Resources (ESDM). In Bondowoso, there are two geothermal WK, one at Belawan which is already in the tender stage.

    Under the plan, as appropriate, in December 2009 and exploration has begun to be implemented. However, until now there was no sequel. "That's why we ask the central government immediately help," he said.

    Amin said, the economy will be a lot terbantuk Bondowoso with the utilization of geothermal energy. Utilization of geothermal energy in Belawan as a source of electrical energy will support the electrical facilities in nearly 290 villages spread over 23 districts not reached by electricity.

    "May the remote areas can be cultivated area of power supply by using alternative energy such as microhydro power plant (MHP) as they relate to the conversion program in which most local people still use kerosene as a source of electrical energy," said Amin. KBC 5 / KBC 2
 
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