Latest news with #NuEnergy
The Star
26-05-2025
- Business
- The Star
Glotec's unit begins drilling Indonesia's first commercial CBM well
KUALA LUMPUR: Globaltech Formation Bhd 's (Glotec) subsidiary, NuEnergy Gas Ltd, has commenced drilling operations for the TE-B06001 well at its Tanjung Enim Production Sharing Contract (PSC) Plan of Development 1 (Tanjung Enim POD 1) area. The well is located approximately 218 kilometres (km) from Palembang, South Sumatra, and it is NuEnergy's and Indonesia's first commercial coal bed methane (CBM) project. In a filing with Bursa Malaysia today, NuEnergy said the well is the first of four planned CBM wells under its Early Gas Sales Initiative, targeting initial gas sales of one million standard cubic feet per day (mmscfd). A specially modified hydraulic drilling rig began drilling the TE-B06001 well on May 25. "The TE-B06001 well will be drilled vertically to a planned depth of approximately 463 metres, targeting multiple coal seams between 288 metres and 400 metres. "The well will be completed using an open-hole method - a proven technique optimised for gas recovery in CBM formations," it said. NuEnergy said the drilling campaign reflects its commitment to delivering sustainable, cleaner energy solutions while supporting Indonesia's domestic gas supply strategy. The successful execution of the TE-B06001 well will lay the groundwork for further development under Tanjung Enim POD 1 and validate the commercial potential of NuEnergy's CBM assets, it said. Spanning about 33 square kilometres (km²) or 13 per cent of the total PSC area, the Tanjung Enim POD 1 has a planned production of 25 mmscfd, with reserves of 164.89 billion standard cubic feet, and has been certified by Indonesia's Research and Development Centre for Oil and Gas Technology, NuEnergy added. "The Tanjung Enim POD 1 was approved by the Ministry of Energy and Mineral Resources in July 2021. "As Indonesia's first commercial-scale CBM development, this project represents a strategic step toward achieving the country's energy transition goals through cleaner, unconventional gas sources," it said. Its chairman, Bernard Kong, said the TE-B06001 well marks the beginning of a transformational journey, not just for the company, but also for Indonesia's gas sector as it moves towards cleaner, domestically sourced energy. "With strong support from regulators and the local community, we are confident in delivering a project that meets both environmental and operational standards,' he said. - Bernama
New Straits Times
29-04-2025
- Business
- New Straits Times
Globaltec's Australian unit gears up for early coal bed methane sales
KUALA LUMPUR: Globaltec Formation Bhd's Australia-listed unit, NuEnergy Gas Ltd, has commenced drilling site preparation activities at its Tanjung Enim production sharing contract (PSC) in South Sumatra, Indonesia. This comes as the group moves closer to first coal bed methane production under its early gas sales initiative, NuEnergy said in its quarterly activities report, which Globaltec filed with Bursa Malaysia today. The company, through its subsidiary Dart Energy (Tanjung Enim) Pte Ltd, finalised a gas sales and purchase agreement with Indonesia's national gas distributor PT Perusahaan Gas Negara (PGN) at the end of 2024. The drilling site preparation work involves building access roads, repairing bridges, clearing land and constructing foundations, mud pits and flare stacks. Featured Videos The area also includes a site designated for PGN's compressed natural gas facility. The first of four wells is expected to be spudded in May. Elsewhere, NuEnergy continues dewatering operations at its Muralim PSC, also in South Sumatra, to gather gas production data. It is also awaiting government approvals to advance environmental permitting at its Muara Enim PSC. Separately, the company is in the process of relinquishing its Muara Enim II PSC. During the March quarter, NuEnergy posted a net operating cash outflow of A$143,000 and capital expenditure of A$822,000. Its cash and cash equivalents stood at A$3.92 million at the end of the quarter, giving it an estimated funding runway of four quarters based on current expenditure levels. NuEnergy, an independent clean energy company focused on Indonesian unconventional gas, holds three coal bed methane PSCs in South Sumatra. It aims to integrate these assets into a coal bed methane production hub, targeting sustainable energy supply for Indonesia's growing market.
