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by Andreas Exarheas
Andalas Energy and Power Plc, in collaboration with Pertamina, has identified a further two gas fields in central Sumatra suitable for wellhead IPP (independent power project) development.
“The scalability of our gas-to-power offering in partnership with Pertamina is clear. In addition to the initial project, we have identified two additional fields within Pertamina’s unrivalled inventory of gas assets,” Andalas CEO, David Whitby, said in a company statement.
“All of this has been achieved within eight months of signing our partnership agreement with Pertamina and we look forward to updating shareholders as we continue to progress our cooperation with Pertamina,” he added.
The pace of the collaboration could potentially see Andalas become a “material player” in Indonesia’s gas to power outlook, according to Sam Wahab, oil & gas research analyst at Cantor Fitzgerald Europe.
“We therefore believe Andalas’ shares represent a unique investment opportunity to gain exposure to a compelling and established hydrocarbon province,” Wahab said in a research note sent to Rigzone.
The development is in line with Andalas’ strategy to develop a portfolio of wellhead IPPs totalling between 250MW and 500MW of installed capacity, fired with gas from existing fields, Andalas said in a company statement.
Link here for the full Rigzone story