Firms Buy Indonesia CBM Block

摘要

Canada-based CBM Asia Development Corp. said it has agreed a joint acquisition with Newton Energy CBM and Ephindo of Indonesia’s Kutai II Block in East Kaliman- tan. The three companies will evaluate coalbed methane (CBM) reserves in the block once they file an application for the production sharing contract with regulators. Kutai II is next to the Kutai-West Block, which the three firms already own. CBM Asia also has stakes in the South Sumatra Basin and Sekayu blocks.