West Natuna Exploration Limited (WNEL), a majority-owned subsidiary of Conrad Asia Energy, headquartered in Singapore, has booked a drilling rig for a multi-well drilling campaign at its natural gas field in the West Natuna Sea offshore Indonesia, Southeast Asia.
A subsidiary of Conrad Asia Energy, as the operator Mermaid PSC In the Natuna Sea, you have entered into a binding contract with PT Pertamina Drilling Services Indonesia (Pertamina Drilling) through BDSI – Addis A consortium to provide a crane drilling rig to support development Subordinate Mako Gas field.
As a result, Admarin 502 The independent leg cantilever lifting platform will be responsible for the scope of work, which entails drilling six development wells and installing the Conductor Support Frame (CSF). The confirmed contract duration is 180 days and contains options to extend the deal. The platform is expected to begin this mission in the second quarter of 2027.
Miltus XenogalasManaging Director and CEO of Conrad commented: “This agreement represents a critical milestone for the Duyung PSC JV project as we progress toward drilling at Mako. Securing a high-specification jack-up platform on favorable terms enables the company to efficiently execute its upcoming development program.”
The Mako project is designed to initially comprise six development wells linked to a leased mobile offshore production unit (MOPU), with sales gas transported via a 59 km, approximately 18-inch diameter pipeline to KF platform At the neighboring Kakap PSC, then via the WNTS pipeline for delivery to the Indonesian domestic market.
Total first gas capital expenditure is estimated at $320 million, in line with previous guidance. In addition, a provision of approximately $35 million has been made for owner-supplied equipment to be replaced by the MOPU provider and for potential upfront payments to the MOPU. Future operating costs are targeted to be between $70 and $80 million annually, including pipeline transportation costs.
Tail gasEmpyrean CEO and CTO commented: “A binding drilling contract is not a plan – it is a commitment, and it signals to the market that the Mako gas field is headed for drilling. We have a world-class discovered gas resource, a contracted drilling rig, a clear development program of six wells, and a path to market through Indonesia’s existing domestic gas infrastructure.
“The work remaining is execution. With over $320 million of development capital supported by a contracted drilling schedule and a start date in the second quarter of 2027, I am confident that Mako will deliver the value this asset has always promised. Today is a good day for Empyrean.”
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