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Globaltec’s NuEnergy gets methane cert from Indonesia
KUALA LUMPUR: Globaltec Formation Bhd’s subsidiary NuEnergy Gas Ltd has received the coal bed methane reserves certification from Indonesia for the Tanjung Enim production sharing contract (PSC). It said on Monday NuEnergy, which is listed on the Australian Securities Exchange, had received the certification from the Indonesia Research and Development Center for Oil and Gas Technology. The reserves certification has concluded with findings of 86.05 billion standard cubic feet (Bscf) of proved reserves and 78.84 Bscf for probable reserves giving a total gas reserves of around 165 Bscf for the target development areas covering 33 sq km (or 13% ofRead More
Sumatec sees Rakushechnoye oil output to reach 1,500 barrel a day by end of March
KUALA LUMPUR: Sumatec Resources Bhd said it was informed by its partner CaspiOilGas LLP (COG) that oil production at the Rakushechnoye oilfield in Kazakhstan will reach 1,500 barrels of oil a day (bbl/d) by end of March.