Conrad Asia Power’s subsidiary, West Natuna Exploration (WNEL), has signed a contract with Pertamina Drilling Companies Indonesia (PDSI) for the supply of a jack-up drilling rig.
The rig might be used as a part of the event of the Mako gasoline area within the Natuna Sea offshore Indonesia. The sector is totally appraised and is a part of the Duyung manufacturing sharing contract (PSC) space.
The settlement, executed by the PDSI–ADES Consortium, will see the deployment of the Admarine 502 independent-leg cantilever jack-up rig.
The scope of labor consists of the drilling of six growth wells and set up of a conductor help body (CSF).
The contract covers a agency interval of 180 days, with choices for additional extensions, at a day fee described as in step with prevailing regional situations. Drilling operations are scheduled to start within the second quarter of 2027 (Q2 2027).
The formal signing passed off on the Millennium Centennial Centre in Jakarta, involving representatives from WNEL, PDSI and ADES Drilling Indonesia.
WNEL basic supervisor Danial Murtadho, PDSI president director Avep Disasmita and ADES Drilling Indonesia Asia regional director Khalid Abdelmuneim Khider Ahmed participated within the ceremony alongside firm administration groups.
Conrad Asia Power managing director and CEO Miltos Xynogalas stated: “This settlement represents a vital milestone for the Duyung PSC JV [joint venture] as we advance towards drilling at Mako.
“Securing a high-specification jack-up rig on beneficial phrases positions the corporate to execute its upcoming growth programme effectively.”
In accordance with Conrad Asia Power, the Mako venture will initially contain six growth wells linked to a leased cellular offshore manufacturing unit (MOPU).
Processed gross sales gasoline is to be transported by almost 59km of 18in pipeline to the KF platform within the adjoining Kakap PSC after which delivered to the Indonesian home market via the WNTS pipeline.
The overall capital expenditure required to succeed in first gasoline is estimated at $320m (Rp5.81tn) for the whole venture, with WNEL’s 25% share equating to roughly $80m.
An extra provision of round $35m has been made to cowl owner-supplied gear and potential MOPU down funds.
Focused working prices are set between $70m and $80m per yr, together with pipeline transportation bills.
Conrad Asia Power is targeted on pure gasoline exploration and manufacturing within the shallow waters of Indonesia.
The corporate holds a number of operated tenements via PSCs, with the Mako gasoline area within the Natuna Sea being its principal asset.
