SASOL said No, Bumi might go with JCOAL
As no greenlight yet from the world's largest coal-based synthetic diesel SASOL (South Africa), PT Bumi Resources Tbk might work with Japan's JCOAL to build the US$2.4 billion coal to liquid plant in Indonesia, energy ministry officer said yesterday.
In contrast to Bumi's optimism when announcing the divestment of two coal mining subsidiaries PT Kaltim Prima Coal and PT Arutmin Indonesia, Nenny Sri Utami, chairwoman of Research and Development at Energy Ministry said government is asking for cooperation between JCOAL and Bumi to develop CTL in the country.
Bumi initially mentioned SASOL when confronted with the questions about its future after the divestment of KPC and Arutmin. But SASOL denied any cooperation with Bumi saying it is focusing on CTL projects in China, Nigeria, and Qatar instead.
Mrs Utami said the first phase of the CTL project is expected to produce 12,000 barrel per day of synthetic fuels and the location of the plant could be in Berau (East Kalimantan), Bangko (South Sumatra) or Muriah (South Kalimantan).
The project's construction is predicted to start in 2012 with first commercial production in 2015. With investment of US$2.4 billion, the project could produce 55,000 bpd of synthetic oil.
No statement so far from Bumi on this project. But why 2015? Probably because JCOAL (Japan Coal Energy Center) is not a commercially-proven enterprise in the CTL technology such as SASOL. Bumi shareholders deserved explanation on this.
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In contrast to Bumi's optimism when announcing the divestment of two coal mining subsidiaries PT Kaltim Prima Coal and PT Arutmin Indonesia, Nenny Sri Utami, chairwoman of Research and Development at Energy Ministry said government is asking for cooperation between JCOAL and Bumi to develop CTL in the country.
Bumi initially mentioned SASOL when confronted with the questions about its future after the divestment of KPC and Arutmin. But SASOL denied any cooperation with Bumi saying it is focusing on CTL projects in China, Nigeria, and Qatar instead.
Mrs Utami said the first phase of the CTL project is expected to produce 12,000 barrel per day of synthetic fuels and the location of the plant could be in Berau (East Kalimantan), Bangko (South Sumatra) or Muriah (South Kalimantan).
The project's construction is predicted to start in 2012 with first commercial production in 2015. With investment of US$2.4 billion, the project could produce 55,000 bpd of synthetic oil.
No statement so far from Bumi on this project. But why 2015? Probably because JCOAL (Japan Coal Energy Center) is not a commercially-proven enterprise in the CTL technology such as SASOL. Bumi shareholders deserved explanation on this.
Labels: Bumi Resources, COAL
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posted by yosef at 7:38 AM
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