BP announced that a consortium led by its joint venture VICO - owned jointly by BP and ENI - has signed a production sharing contract (PSC) with the Government of Indonesia for the exploration and development of coalbed methane (CBM) resources on the Sanga-Sanga block in East Kalimantan, Indonesia. VICO has been producing conventional gas resources from the Sanga-Sanga block for over 40 years, and the signature of this PSC is expected to mark the first significant development of CBM in Indonesia.
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