Tuesday, July 14, 2009

Oil and Mining Updates from Indonesia

- Ausenco: Preferred Contractor For Martabe Project
- Shenhua Unit Starts Work on Indonesia Power Plant, Coal Project
- Gulf Petroleum To Invest In Coal Gasification Pjt In Indonesia
- Indonesian Power Co PLN Succeeds In Reducing 25% Of Oil Fuel Use
(Courtesy Joyo News Service)
Ausenco: Preferred Contractor For Martabe Project
MELBOURNE, July 14 (Dow Jones)--Ausenco Ltd. (AAX.AU) said
Tuesday it has been selected as preferred contractor to the
US$250 million Martabe gold and silver project in Indonesia.
Queensland state-based Ausenco and PT Agincourt Resources are in
the final stages of documenting the contract, which should be
signed later this month, and work is expected to start by
August, it said in a statement.
The Martabe project in northern Sumatra is expected to produce
about 250,000 ounces of gold and 3 million ounces of silver in
the mine's early years, Ausenco said.
Shenhua Unit Starts Work on Indonesia Power Plant, Coal Project
By John Duce
July 14 (Bloomberg) -- China Shenhua Guohau Power Co., a unit of
China’s biggest coal producer, started construction of a power
plant and mine in Indonesia this month.
Building began on the site in south Sumatra on July 7 and is due
for completion in 2011, parent Shenhua Group Corp. said in a
statement on its Web site.
State-controlled Shenhua said in January last year the project
was due to be completed in 2010. The 300-megawatt power station
is the coal-producer’s first electricity generating project
outside China.
The mine will produce about 1.5 million metric tons of coal a
year, Shenhua Group, the parent of Hong Kong-listed China
Shenhua Energy Co., said in the statement.
Gulf Petroleum To Invest In Coal Gasification Pjt In Indonesia
JAKARTA, July 14 Asia Pulse - Indonesia's Priamanaya Group and
Gulf Petroleum from Qatar, will develop synthetic gas from coal
in Lahat, South Sumatra.
The feasibility study of the project will be carried out toward
the end of this year to be completed in a year, Susilo
Djiwantoro, Priamanaya chief executive said.
Susilo said Gulf Petroleum will hold the majority share of 80
per cent and Priamanaya, which has a coal mine in Lahat, will
take 20 per cent.
The coal gasification project will cost at least US$1 billion,
he was quoted as saying by the newspaper Bisnis Indonesia.
Indonesian Power Co Pln Succeeds In Reducing 25% Of Oil Fuel Use
JAKARTA, July 13 Asia Pulse - Indonesian state electricity
company PLN said it has succeeded in reducing 25 per cent its
dependence on oil fuel in the first half of this year.
PLN used only 4.5 million kiloliters of oil fuel in the first
six months of this year from around six million kiloliters in
the same period last year, its President Fahmi Mochtar said.
Fahmi said PLN could save oil fuel thanks mainly to success in
gasification program, adding hydropower and geothermal power
also have significant contribution.
A PLN spokesman Nasri Sebayang said the company saved around Rp6
trillion (US$600 million) with the diversification of fuels.
PLN is expected to save more oil fuel with its large program to
build coal-fired power plants with a total capacity of 10,000
megawatt now in progress to be completed next year.

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