Indonesia has one of the world’s largest CBM reserves, at an estimated 453 trillion cubic feet (tcf) which is reportedly equivalent to 6% of the total global CBM reserves.
The South Sumatra basin, where NGY has 4 CBM PSCs, has estimated reserves of 183 tcf or an estimated 40% of Indonesia’s CBM reserves. NGY’s 4 PSCs cover a total area of 2278 sq km in South Sumatra.
NGY looks set to become the first company to produce CBM gas commercially in Indonesia following the recent approval for its Tanjung Enim POD1 which is the first approved POD in Indonesia. NGY has also announced plans to submit POD applications for its Muara Enim and Muralim PSCs.
NGY is on its way to becoming a gas producer in a major CBM market, and is no longer only a gas exploration company.
References:
Microsoft PowerPoint - 2019.11.12_NGY 2019 AGM PRESENTATION modified (copyright link)
