Coro Energy PLC has released an update on the Mako Gas Field resources, in which the company holds a 15% interest. The Operator, Conrad Asia Energy Ltd, has provided an update on the Mako Gas Field reserves and resources as of 31 December 2023. This follows the receipt of an updated reserves and resources report prepared by Gaffney, Cline & Associates (Consultants) Pte Ltd. The report includes an assessment of resources for current expectations of Final Investment Decision and production commencement delay, following an earlier report from 1st July 2022.
The Operator proposes a two-phase development plan based on six initial development wells tied back to a leased production platform at the Mako gas field. Sales gas will be transported via the West Natuna Transport System (WNTS) pipeline to Singapore for sale to the Singapore market, and potentially to the Indonesian domestic market via a yet-to-be constructed spur from the WNTS. The development plan proposes a plateau production of 120 MMscfd for 3.5 (Low case), 6.5 (Best case), or 11.5 (High case) years. Additionally, two further development wells are planned 3 years after first gas.
For more details, the full announcement can be accessed on the Coro Energy PLC website.