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Acquisition of interest in a coal bed methane block in Indonesia

November 30, 2009
Osaka Gas Co., Ltd.

A consortium of four Japanese companies including Osaka Gas (*1), in partnership with BP, Eni, and other companies, acquired a CBM interest in Indonesia through an international bidding process organized by the Indonesian government.  A production-sharing contract was signed by the companies and the government of Indonesia for the Sanga-Sanga CBM Block (*2) in East Kalimantan.  The companies plan to conduct a feasibility study for commercialization of CBM in the next three years.

The CBM acreage has the total area of about 1,750 square kilometres.  The area overlaps with the Sanga-Sanga gas field owned by the four Japanese companies through Universe Gas & Oil.  In order to pursue development opportunities of CBM in the region, the four companies established Japan CBM Limited today.

(*1) Ownership of Japan CBM Limited
40.12%: Osaka Gas:
40.12%: Japan Petroleum Exploration Co. (JAPEX):
14.97%: Japan Energy Corp.
04.79%: LNG Japan

(*2) Ownership of Sanga-Sanga CBM block
26.25%: BP plc
26.25%: Eni SpA
20.00%: Opicoil Energy
15.625%: VIC
07.5%: VICO (operator)
04.375%: Japan CBM

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