VIVAnews - Energy World Corporation Limited Company, an Australia-based oil and gas exploration company, is preparing a new investment worth US$ 720 in an oil and gas field in Sengkang, South Sulawesi. The field will be integrated with Sengkang steam power plant.
According to the Head of Investment Coordination Board M. Lutfi, Energy World had actualized 190 mega watt investment valuing US$200 million in the oil and gas field.
Energy World intends to investing an additional US$720 which covers electricity capacity enhancement by 135 megawatt valuing US$130 million and the development of oil and gas field by liquefying natural gas to LNG, with the investment target of US$ 590 million. "They want to develop the LNG," Lutfi said in Jakarta on Tuesday, July 14.
He also said Energy World would seek approval from the upstream oil and gas regulator (BP Migas).
Earlier, several Energy World's executives visited Jusuf Kalla at the vice presidential palace. Among the visiting executives were namely Stewart Elliot (managing director), Brian Allen (financial director), Bob Hutchison (technical director), and Thompson Situmorang (general council).
The meeting was also attended by Kevin Blount from the Chart Energy and Chemical, Conor McCoole from the Standard Chartered, and Priandika Permana from PT Energi Sengkang.
Sengkang is currently planned to be made into a "Gas City" with the production target of 2 million cubic foot per day (mmscfd) for 12,000 households. Energy Sengkang acquires its gas supply from PT Energy Equity Epic Sengkang. Energy Equity is controlling the operation area in Sengkang Block,Wajo.
The company has invested US$ 99 million since June 2004 to produce 26.5 mmscdf of gas per year. Energy Equity shareholders are American company Elpaso Energy International Company (50 percent) and Energy World (50 percent).
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Translated by: Nataya Ermanti
