Globaltec gets green light from Indonesian Task Force

Globaltec Formation Bhd’s (GFB) wholly owned subsidiary, NuEnergy Gas Ltd (NYG), has received approval from Indonesian Special Task Force yesterday for the upstream oil and gas (O&G) business activities.

The special task force is named “Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi”.

Globaltec said the O&G activities include preparation of the initial plan of development (PoD) for its Tanjung Enim production contract (PSC).

The proposed concept for the initial PoD, involves the development of two target areas, in the north and north-west of the Tanjung Enim PSC where NGY has focused its exploration, drilling and pilot production activities over the last eight years.

NGY will focus its effort on the PoD preparation process and to deliver the proposal by the end of the year.