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NuEnergy's Tanjung Enim PSC Declared National Strategic Project in Indonesia

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Indonesia has designated NuEnergy Gas' (ASX:NGY) Tanjung Enim production sharing contract (PSC) as a National Strategic Project, according to a Monday filing with Bursa Malaysia.

The designation gives the coal bed methane development more government support as it moves towards production, NuEnergy, a subsidiary of Globaltec Formation (KLSE:GLOTEC), said.

Development of the Tanjung Enim PSC will contribute to Indonesia's energy security by boosting domestic gas supply and diversifying the nation's energy mix, NuEnergy said in the filing.

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