Indonesia’s Sugih Energy to Supply Gas to PLN

Indonesia’s Sugih Energy on Tuesday said it has agreed to supply natural gas to country’s state owned power firm PLN’s plant in Riau.

The deal will generate $28,000 a day in revenues, the company said in a statement filed on the Indonesia Stock Exchange.  

According to Jakarta Post newspaper, Energy and Mineral Resources Ministry had approved a request from Petroselat, the company’s subsidiary, for permission to supply natural gas to the plant in Siak, Riau.

Petroselat has been granted approval to sell natural gas sourced from the Selat Panjang block to PLN, with a volume amounting to 2.5 to 5 BBTUD [Billion British Thermal Unit per day]. The contract will last until 2019.

Through its subsidiaries, Sugih holds a participating interest in three exploration blocks in Sumatra.