CBM Asia Development Corp. announces plans for the Kutai West PSC development.
CBM Asia's primary goal for 2014 is to commercialize the Kutai West Production Sharing Contract (PSC) in East Kalimantan, Indonesia, located near the Bontang LNG export facility. Achieving early-stage commercial production will help unlock the value of this asset, which is situated close to high-priced Asian gas markets.
705 Bcf Near Bontang LNG Facility. CBM Asia holds an 18% working interest in the Kutai West PSC, representing 705 Bcf of recoverable prospective resources net to CBM Asia from the total 3.9 Tcf estimated by an independent audit conducted in 2013 by Netherland, Sewell & Associates, Inc.1 Kutai West is regarded as one of the best and commercially most advanced of the more than 50 awarded CBM blocks in Indonesia.