Close Menu
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Google Crushes Q2 Forecasts but $10B Capex Spike Rattles Wall Street

July 23, 2025

AI demand drives largest U.S. electricity auction price to record high – Oil & Gas 360

July 23, 2025

California Governor Steps In to Save Valero Refinery To Avoid Fuel Shock

July 23, 2025
Facebook X (Twitter) Instagram Threads
Oil Market Cap – Global Oil & Energy News, Data & Analysis
  • Home
  • Market News
    • Crude Oil Prices
    • Brent vs WTI
    • Futures & Trading
    • OPEC Announcements
  • Company & Corporate
    • Mergers & Acquisitions
    • Earnings Reports
    • Executive Moves
    • ESG & Sustainability
  • Geopolitical & Global
    • Middle East
    • North America
    • Europe & Russia
    • Asia & China
    • Latin America
  • Supply & Disruption
    • Pipeline Disruptions
    • Refinery Outages
    • Weather Events (hurricanes, floods)
    • Labor Strikes & Protest Movements
  • Policy & Regulation
    • U.S. Energy Policy
    • EU Carbon Targets
    • Emissions Regulations
    • International Trade & Sanctions
  • Tech
    • Energy Transition
    • Hydrogen & LNG
    • Carbon Capture
    • Battery / Storage Tech
  • ESG
    • Climate Commitments
    • Greenwashing News
    • Net-Zero Tracking
    • Institutional Divestments
  • Financial
    • Interest Rates Impact on Oil
    • Inflation + Demand
    • Oil & Stock Correlation
    • Investor Sentiment
Oil Market Cap – Global Oil & Energy News, Data & Analysis
Home » Conrad Signs Gas Sales Agreement for Indonesia’s Mako Field
Middle East

Conrad Signs Gas Sales Agreement for Indonesia’s Mako Field

omc_adminBy omc_adminJuly 23, 2025No Comments4 Mins Read
Share
Facebook Twitter Pinterest Threads Bluesky Copy Link


Asia-focused Conrad Asia Energy Ltd said it has signed a gas sales agreement (GSA) for the sale and purchase of natural gas from the Mako Gas Field offshore Indonesia with PT PLN Energi Primer Indonesia (PLN EPI), a wholly owned subsidiary of state-owned PT Perusahaan Listrik Negara (PLN Persero).

The agreement, which covers the current Duyung Production Sharing Contract (PSC) period until January 2037, provides for a total contact quantity of 392 trillion British thermal units (Btu), or the sale of 111 billion Btu per day, Conrad said in a news release.

The Mako gas price will be linked to the Indonesian Crude Price (ICP), an oil price index similar to Brent. The resulting pricing mechanism will be economically similar to the mix of prices previously approved for Mako export and domestic gas sales, with 100 percent of the gas produced from the field to be sold at the above-referenced price rather than the usual fixed domestic offtake price, according to the release.

Financial terms of the agreement were not disclosed.

PLN EPI will finance and build the pipeline connecting the main West Natuna Gas line to Pemping Island and the onward link to Batam. Conrad will not bear any costs in relation to the construction of the pipeline, the company said.

The agreement is expected to support the pending farm-out arrangements in the Duyung PSC and a final investment decision for the Mako field, Conrad said.

Conrad Managing Director and CEO Miltos Xynogalas said, “The GSA between the Mako Joint Venture and PLN EPI is a significant milestone both in the development of Conrad and in our progress to bringing the Mako Field into production. The signing of the GSA underpins the financial viability and crystallizes the value of the Mako Field”.

For Conrad, this is an important step in building its gas business in Asia. Conrad has worked closely and effectively with PLN to conclude a formal GSA promptly following the Directive from the MEMR to sell all gas from Mako into the Indonesian domestic market. The island of Batam is experiencing strong energy demand growth fueled by power demand from data centers and Mako is ideally placed to supply energy to that growing market,” Xynogalas continued.

“Mako is the first of many gas projects we aim to bring into commercial production from our existing portfolio of gas discoveries, which also include our Aceh gas resources where we hold four existing discoveries. Asia has the fastest gas consumption growth in the world and continues to progress on its energy transition path away from coal. We are extremely proud to participate in and support Indonesia’s ever-growing exploitation of its natural gas resources. The resultant strong gas demand in Indonesia underpins the tangible value of our discovered resources and provides a compelling investment thesis for Conrad,” he concluded.

Conrad holds a 76.5 percent operating participating interest in the Duyung PSC via its subsidiary West Natuna Exploration Limited. Duyung is located in the Riau Islands Province, Indonesian waters in the West Natuna area. The Mako Gas Field contains 2C contingent resources of 376 billion cubic feet (Bcf), of which 192 Bcf are net attributable to Conrad, according to the release.

To contact the author, email rocky.teodoro@rigzone.com



Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

element
var scriptTag = document.createElement(‘script’);
scriptTag.src = url;
scriptTag.async = true;
scriptTag.onload = implementationCode;
scriptTag.onreadystatechange = implementationCode;
location.appendChild(scriptTag);
};
var div = document.getElementById(‘rigzonelogo’);
div.innerHTML += ” +
‘RIGZONE Empowering People in Oil and Gas‘ +
”;

var initJobSearch = function () {
//console.log(“call back”);
}

var addMetaPixel = function () {
if (-1 > -1 || -1 > -1) {
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);

/*End Meta Pixel Code*/
} else if (0 > -1 && 84 > -1)
{
/*Meta Pixel Code*/
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1517407191885185’);
fbq(‘track’, ‘PageView’);
/*End Meta Pixel Code*/
}
}

// function gtmFunctionForLayout()
// {
//loadJS(“https://www.googletagmanager.com/gtag/js?id=G-K6ZDLWV6VX”, initJobSearch, document.body);
//}

// window.onload = (e => {
// setTimeout(
// function () {
// document.addEventListener(“DOMContentLoaded”, function () {
// // Select all anchor elements with class ‘ui-tabs-anchor’
// const anchors = document.querySelectorAll(‘a .ui-tabs-anchor’);

// // Loop through each anchor and remove the role attribute if it is set to “presentation”
// anchors.forEach(anchor => {
// if (anchor.getAttribute(‘role’) === ‘presentation’) {
// anchor.removeAttribute(‘role’);
// }
// });
// });
// }
// , 200);
//});



Source link

Share. Facebook Twitter Pinterest Bluesky Threads Tumblr Telegram Email
omc_admin
  • Website

Related Posts

JF Expands Branch Network in Texas, Florida, Illinois

July 23, 2025

Baker Hughes Posts Higher Profit

July 23, 2025

Var Energi Makes Gas, Condensate Find Offshore Norway

July 23, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

LPG sales grow 5.1% in FY25, 43.6 lakh new customers enrolled, ET EnergyWorld

May 16, 20255 Views

South Sudan on edge as Sudan’s war threatens vital oil industry | Sudan war News

May 21, 20254 Views

Trump’s 100 days, AI bubble, volatility: Market Takeaways

December 16, 20072 Views
Don't Miss

Global LNG production will drive supply surge in 2026, says IEA

By omc_adminJuly 23, 2025

(Bloomberg) – Global supply of liquefied natural gas is set to surge the most since…

Upstream M&A slowed to $14 billion in Q2 2025, Enverus says

July 23, 2025

TotalEnergies starts production from two offshore Angola projects

July 23, 2025

TotalEnergies Partners with NativState on Large-Scale U.S. Forest Carbon Credit Initiative

July 23, 2025
Top Trending

Labour must create green jobs or lose voters to parties who oppose net zero, unions warn | Green economy

By omc_adminJuly 23, 2025

Jupiter Intelligence Launches New Solutions Enabling Banks, Investors to Quantify Climate Risk

By omc_adminJuly 23, 2025

Effects of marine heatwave driving ‘foreseeable’ SA algal bloom could rival black summer fires, scientists warn | South Australia

By omc_adminJuly 23, 2025
Most Popular

Analysis: Reform-led councils threaten 6GW of solar and battery schemes across England

June 16, 20252 Views

Guest post: How ‘feedback loops’ and ‘non-linear thinking’ can inform climate policy

June 5, 20251 Views

The 5 Best Soundbars of 2025

May 6, 20251 Views
Our Picks

JF Expands Branch Network in Texas, Florida, Illinois

July 23, 2025

Baker Hughes Posts Higher Profit

July 23, 2025

Var Energi Makes Gas, Condensate Find Offshore Norway

July 23, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

Facebook X (Twitter) Instagram Pinterest
  • Home
  • About Us
  • Advertise With Us
  • Contact Us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
© 2025 oilmarketcap. Designed by oilmarketcap.

Type above and press Enter to search. Press Esc to cancel.