West Natuna Exploration Ltd (WNEL), a subsidiary of the Indonesian company Conrad Asia Energy, has signed non-binding key terms with Singapore’s Sembcorp Gas for a long-term gas sales agreement from the Mako gas field, located in Indonesia’s Natuna Sea.
The deal envisages the sale of gas from the Mako field for 12 years, from 2025 to 2037, with a total anticipated sold volume of 293 bcf (8.3 bcm or 690 mcm/year) of gas. This volume could potentially be raised to 392 bcf (11.1 bcm, or 924 mcm/year). The agreement was endorsed by the Indonesian oil regulator SKK Migas.
Conrad Asia Energy is the operator of the Duyung PSC (76.5% participating interest), which exploits the Mako gas field. The field, discovered by Conrad Energy and Empyrean Energy in 2016, is currently the largest undeveloped gas resource in the Natuna Sea and still has additional exploration potential. First gas is expected for 2025.