Coro Energy PLC has announced that the operator of the Duyung PSC has signed a non-binding Term Sheet with Sembcorp Gas Pte. Ltd. for a long-term gas sales agreement for the Mako gas field. The Term Sheet has been endorsed by the Indonesian petroleum upstream regulator (SKK Migas). The gas sales agreement relates to the sale of Mako gas from start of production until 2037 for a total sales gas volume of approximately 293 billion cubic feet (Bcf), with the potential to increase to approximately 392 Bcf. Gas sales will be priced against Brent oil. The parties will now focus on finalizing a definitive gas sales agreement.