The Mako gas field is located in the Duyung production sharing contract (PSC) in the West Natuna Basin off the shore of Indonesia, in water depths ranging from 60m to 100m.
The Duyung PSC is 100% owned by West Natuna Exploration (WNEL), which itself is jointly owned by Conrad Petroleum (90%) and Empyrean Energy (10%).
Coro Energy signed an agreement to acquire 15% interest from WNEL in the Duyung PSC contract for $4.8m in February 2019.
Coro Energy will also invest $10.5m in the 2019 drilling campaign in order to secure its 15% stake in the project.
Ministry of Energy and Mineral Resources (MEMR) has approved the plan of development (POD) for the Mako gas field which located in Duyung PSC in the West Natuna Basin offshore of Indonesia which submitted by West Natuna Exploration (WNEL) in August 2018 to Indonesia’s oil and gas regulator SKKMigas
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