Coro Energy PLC, a South East Asian energy company, has announced the signing of a binding Gas Sales Agreement (GSA) with PT Perusahaan Gas Negara Tbk (PGN), the gas subsidiary of PT Pertamina (Persero), for the domestic portion of the Mako gas field in the Duyung Production Sharing Contract (PSC) offshore Indonesia. The GSA is subject to the construction of a pipeline connecting the West Natuna Transportation System with the domestic gas market in Batam and forms part of the Domestic Market Obligation as outlined in Mako's revised Plan of Development.
The GSA encompasses a total contracted gas volume of up to 122.77 trillion British Thermal Units (TBtu) with estimated plateau production rates of 35 billion British Thermal Units per day (BBtud). The terms of the GSA are confidential. Additionally, the remainder of the Mako sales gas volumes are targeted to be sold to Singapore, with Conrad Asia Energy Ltd, the Operator, moving towards finalizing a GSA for the Mako export gas.
The announcement signifies a significant step for Coro Energy PLC in its efforts to develop its natural gas and clean energy portfolio in the South East Asian region. For further details, the company has directed interested parties to the Conrad announcement.