South Sea Energy Corp announced today that the Indonesian Government plans to sign a contract next month with an undisclosed investor to develop the country’s first Coal Bed Methane (CBM) project. The project was officially announced on July 18th, by Dr. Puromo Yusgiantoro, Indonesia’s Energy and Mineral Resources.
President Al Charuk commented that “The announcement by the Ministry is extremely exciting news for South Sea Energy and its partners. The contract will likely become the framework on which future contracts will be negotiated and awarded.” Mr. Charuk added, “This announcement shows that the Indonesian Government is committed to adding coal bed methane to its vast natural resource base.”
The company also posted on its website the interview of Dr. Yusgiantoro discussing the different opportunities within Indonesia’s energy sector at the Third OPEC International Seminar in December 2006.
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