Indonesia’s energy markets are thriving, driven by strong demand, robust gas sales prices and a growing need for domestic production to contribute to national energy security. Unconventional gas is benchmarked to play a significant role in meeting this demand growth and we are uniquely positioned to capitalize on this.

The Indonesian Government (MIGAS, SKKMIGAS and Pertamina) are strong advocates for increasing domestic unconventional gas production, especially as conventional production continues to be on the decline. Our strong relationships with the Indonesian Government and joint venture partners within attractive long-term PSCs, means that we operate in a stable political and regulatory environment, where our goals and objectives match national interests and targets.

NuEnergy has a clear strategy to drive future growth and maximise shareholder return. We are fully committed on completing our approved Plan of Development (POD) on our Tanjung Enim PSC, moving into commercialization and first gas production.

Tanjung Enim has been successfully drilled and appraised, demonstrating significant gas volume with high commerciality. With the recently endorsement by the government, we can complete the planning for the construction of its production facilities and chose our optimal sales strategy and offtake partners.

Our assets are in prolific hydrocarbons basins, each near major gas export pipelines, underutilized gas infrastructure and high-volume under-supplied markets. Once in production our assets can be quickly monetized with several high-price marketing options in close proximity, including local compressed natural gas users, electricity companies and independent powers producers. Please refer to the next page on Future Developments for more information on this.

Our continued emphasis on cost control and capital discipline, coupled with field proven and fit for purpose technological innovation and continuous improvement principle to improve operational efficiency, ensure we operate successfully and economically in today’s global environment of lower commodity prices, as a cost effective, high performance company.

We are proud to be a pioneer of Indonesia’s clean energy industry, helping deliver reliable and robust energy supply to the people and businesses of Indonesia. We are also proud to be working with some of Indonesia’s leading energy companies as our joint venture partners, e.g. Pertamina, Bukit Asam, MedcoEnergi and Sugico. Our focused strategy ensures we will soon become a significant Indonesian gas company, maximizing shareholder value and return at every opportunity.