Gas sales terms agreed for Mako Field project offshore Indonesia

June 24, 2024

Empyrean Energy and its partners have entered a binding agreement with Perusahaan Gas Negara covering the sale and purchase of gas from the Mako Field.

Related To: Empyrean Energy

Mako contains 2C resources of 376 Bcf and could start production in 2026.

Offshore staff

SUBIACO, Australia — Empyrean Energy and its partners have entered a binding agreement with PT Pertamina subsidiary Perusahaan Gas Negara (PGN) covering the sale and purchase of gas from the Mako Field in the Natuna Sea offshore Indonesia.

They are negotiating a separate gas sales agreement (GSA) for Mako’s remaining gas resource for export to Singapore, which is connected to the West Natuna Sea gas gathering system.

PGN plans to commission a smaller tie-line to the island of Batam across the Malacca Strait that will connect the Natuna Sea to the Indonesian market.

Empyrean operates the Duyung PSC that contains Mako. The location is in the Riau Islands Province in Indonesian waters in the West Natuna area, 100 km north of Matak Island and 400 km northeast of Singapore.

Mako contains 2C resources of 376 Bcf and could start production in 2026, subject to completing a formal GSA with a Singapore buyer. The West Natuna Sea has been supplying Singapore with natural gas for more than two decades and Mako is expected to continue this supply for at least another decade.

06.24.2024