PETALING JAYA: Globaltec Formation Bhd has announced that its 70%-owned subsidiary NuEnergy Gas Ltd has secured a US$88mil (RM358.16mil) agreement with Chinese clean energy investment firm PT Beijing Energy Linking (PT BEL) to advance its coal bed methane project in Tanjung Enim, Indonesia.
In a filing with Bursa Malaysia, Globaltec said the contract entails drilling, construction, testing and completion of Coal bed methane wells and the associated dewatering activities.
“PT BEL shall carry out the work to achieve gas production and ramp up to a sustainable production plateau of 24 million standard cubic feet per day.
Globaltec said the contract duration will be from June 30, 2026 to Aug 3, 2039.
NuEnergy Gas is an independent clean energy company focused on the development of Indonesian unconventional gas assets.
