Conrad granted approval for updated Mako development plan

Conrad Petroleum Ltd. received approval from the Indonesian Ministry of Energy and Mineral Resources for its updated plan of development (POD) for the Mako gas project within the Duyung production sharing agreement (PSC) in West Natuna basin, offshore Indonesia. First gas is expected in 2025.

There is no infrastructure to transmit gas from Mako field to domestic markets in Indonesia. The updated POD approves gas export to Singapore through the West Natuna Gas Transportation System, unless such evacuation routes to Indonesia are built, at which point up to 25% of production may be allocated for domestic sale.

The updated POD is based upon contingent Duyung PSC resources of 384 bcf (gross) within the Duyung PSC area, which represents some 297 bcf net attributable to 100% of the Duyung PSC joint venture and a daily production of 120 MMscfd.

Mako gas field reservoir is a Pliocene-age sandstone, with a gas-water contact at 391 m true vertical depth subsea. Commercial viability of Mako gas field was demonstrated by the Mako South-1 well drilled by Conrad and Empyrean in 2017 (OGJ Online, Apr. 14, 2020).

West Natuna Exploration Ltd., a 100%-owned subsidiary of Conrad Asia Energy Ltd, is operator of the Duyung PSC. Partners are Conrad (76.5%), Coro Energy Plc (15%), and Empyrean (8.5%).