Indonesia’s Ministry of Energy and Mineral Resources (MEMR) has approved the plan of development (POD) for the Mako gas field at the Duyung production sharing contract (PSC), offshore Indonesia.

The Duyung PSC is 100% owned by West Natuna Exploration (WNEL). Conrad Petroleum owns WNEL with a 90% stake, with the remaining 10% interest held by Empyrean Energy.

Coro Energy signed an agreement to acquire a 15% direct interest in the Duyung PSC in the West Natuna Basin from WNEL in February 2019.

Empyrean Energy CEO Tom Kelly said: “The POD approval by the Ministry of Energy and Mineral Resources in Indonesia is another important milestone in progressing the Mako gas field towards production.

“The POD approval by the MEMR in Indonesia is another important milestone in progressing the Mako gas field towards production.”

“Tenure has now been secured on the Duyung PSC out to 2037 which reduces risk and adds intrinsic value to the project.

“Importantly, the POD approval is also crucial to advancing negotiations of the heads of agreement into a gas sales agreement with the buyer in Singapore for the off-take of Mako gas.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Covering about 890km² in the Riau Islands Province offshore Indonesia, the Duyung PSC is located close to the West Natuna Transportation System (WNTS) pipeline.

The pipeline supplies about 0.4 billion cubic feet of natural gas per day (Bcf/d) to Singapore.

Empyrean participated in the successful Mako South-1 exploration well in June 2017.

In January 2019, a resource audit by Gaffney Cline & Associates reported contingent 2C resources of 276 Bcf in the Mako field.