Indonesia is on the brink of a massive consolidation similar to what happened in Australia in 2007 and 2008, when supermajors and national oil companies bought out about $30 billion worth of CBM assets from oil and gas minnows, Toronto-listed CBM Asia’s chairman, Scott Stevens told Upstream in a phone interview.
Stevens foresees consolidation taking place when 'very large-scale' commercial production of Indonesia's CBM reserves starts as early as next year.
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