Edward Kabes, formerly a Director at energy logistics provider Ants Energy Indonesia, explained that the investment value to kickstart production reached US$22,5 million, equivalent to Rp347 billion.
Heaptalk, Jakarta — Buana Resources Capital, a 49 percent shareholder at Benuo Taka Wailawi, recently underwent a majority share buy-in, with a new CEO being appointed.
Edward Kabes, formerly a Director at energy logistics provider Ants Energy Indonesia, proposes a multimillion-dollar investment proposal to increase gas outputs at Benuo Taka Wailawi.
“Our plan includes a variety of projects, such as workovers of existing gas wells and the development of a small-scale LNG plant which will ensure that the gas output from the region is maximised, leading to an increase in the overall production of natural gas resources”
Edward explained that the investment value to kickstart production reached US$22,5 million, equivalent to Rp. 347 billion. The proposal outlined Wailawi’s gas field development to significantly impact the production of gas from the current production of 2 MMSCFD to 7 MMSCFD and a positive return on investment within the next five years.
Benuo Taka Wailawi, an SKK Migas production-sharing contractor in Penajam Paser Utara, East Kalimantan has a proven gas reserve of 55.8 BCF. However, production in recent years has been hindered due to mismanagement. Edward’s proposal was a response to this issue and aimed to provide financial support for the modernization of gas field development in Wailawi.
“We are here to provide life support to a company with vast potential, and we will start by taking every step and measure to recuperate the company”, concludes Edward
