West Natuna Exploration Ltd. (WNEL) and its partners in the Duyung PSC offshore Indonesia have approved an updated plan of development for the Mako gas field.
Courtesy Empyrean Energy Plc
In March 2019, Empyrean announced that the Ministry of Energy and Minerals in Indonesia had approved the plan of development for the Mako gas field, securing tenure until 2037. During October and November 2019, operator Conrad conducted a successful appraisal and exploration drilling campaign in the Duyung PSC, comprising two wells.
Offshore staff
LONDON — West Natuna Exploration Ltd. (WNEL) and its partners in the Duyung PSC offshore Indonesia have approved an updated plan of development for the Mako gas field.
They have also secured alignment with SKKMIGAS on the plan of development, which has since gone to the Indonesian Ministry of Energy and Mineral Resources for approval.
WNEL, a subsidiary of Conrad Asia Energy, has been maturing the development and negotiating gas sales agreements ahead of the final investment decision.
According to partner Coro Energy, this will be a two-phased development with six wells in Phase 1 and a further two in Phase 2 following five years of production.
Courtesy Coro Energy's Q3 2022 presentation
All the wells will be tied back to a leased MOPU via a bridge-linked conductor support frame structure at the Mako Field. The gas will head to Singapore via the West Natuna Transportation System pipeline.
Production should start in 2025, peaking at 120 MMcf/d, with recoverable 2C resources estimated at 413 Bcf. The other partner is Empyrean Energy.
Phase 1 capex is estimated at $251 million with full-field capex of $303 million.
Courtesy Empyrean Energy Plc
Empyrean has an 8.5% interest in the Duyung PSC in offshore Indonesia.In April 2017, Empyrean acquired a 10% shareholding in West Natuna Exploration Ltd (WNEL) from Conrad Petroleum), which held a 100% Participating Interest in the Duyung production sharing contract in offshore Indonesia. Conrad is the operator.
