The Jakarta Post, Jakarta | Thu, 11/13/2008 10:48 AM
The government and Upstream Oil and Gas Regulator (BP Migas) signed four contracts on Thursday to develop coal bed methane (CBM) in Kalimantan, with investment totaling US$20.3 million, Antara news agency reports.
Energy and Mineral Resources Minister Purnomo Yusgiantoro and BP Migas chairman R Priyono signed the contracts with four consortiums that won in the tender process.
The four consortiums were BP Indobararambai Gas Methan (to develop CBM at Barito Banjar 1 with an investment value of $3 million); PT Barito Basin Gas (Barito Banjar 2, $3 million); a consortium of PT Pertamina Hulu Energi Metana Kalimantan and Sangatta West CBM Inc. (Sangatta, $7.7 million); and a consortium of Kutai West CBM Inc. and Newton Energy Capital Limited (Kutai, $6.6 million).
In addition to the CBM contracts, the government and BP Migas also signed 29 production sharing contracts to develop oil and gas fields.
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