Indonesia: Conrad Aims to Bring Mako Offshore Gas Field Online in 2025 as Revised POD Approved

OE Staff
Wednesday, November 9, 2022

Conrad Asia Energy Ltd said Monday that it had received written approval from the Indonesian Minister of Energy and Mineral Resources for the Plan of Development (POD) Revision for the Mako offshore gas field, dubbed "currently the largest undeveloped gas field in South Natuna Sea."

Conrad said that the approved POD reflects an 458% increase in Contingent Resources following a successful 2019 drilling campaign and amends the initial POD which was approved in 2018. 

The revised POD is based on field Contingent Resources of 297 billion cubic feet and daily production of 120 mmscfd.

At present, Conrad said, there is no infrastructure to transmit gas from the Mako field to domestic markets in Indonesia, and hence the POD approves the export of production to Singapore which is already connected to the West Natuna Gas Transportation System, until and unless such evacuation routes to Indonesia are built, at which point up to 25% of production may be allocated for domestic sale. 

The existing underutilized gas pipeline to Singapore expedites the development of Mako where Conrad expects to start producing gas during 2025. 



Conrad holds a 76.5% Participating Interest in the Duyung PSC containing the Mako field, along with Coro Energy which holds a 15% stake, and Empyrean Energy, with an 8.5% stake.

Conrad Managing Director and Chief Executive Officer, Miltos Xynogalas, said the PDO approval represented "a significant milestone for the Indonesian government’s objectives for its people in the exploitation of the nation’s natural resources, with the Mako project enhancing Indonesia’s stated goal of doubling its gas production by 2030."

Xynogala said that the next key milestone in the development of Mako is the finalization of a gas sales agreement, with a buyer (or buyers) in Singapore. 

"With recoverable gas volumes and daily production now formally approved within the POD Revision, we anticipate, and look forward to working with the government of Indonesia, in completing gas sales agreement negotiations at the earliest opportunity,” he said.

Categories: Energy Pipelines Industry News Activity Production Asia

Related Stories

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Yinson Production Closes $1B Investment to Drive Further Growth

Wood JV Gets EPC Job for Shell off Brunei

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

CNOOC Puts Into Production New Oil Field in South China Sea

CNOOC Starts Production at Two New Oil and Gas Projects

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Current News

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com