Fossil Energy – Mako Gas
Conrad Asia Energy has announced formal financial approval of its flagship Mako Gas Project, marking a major step in the company’s transition from exploration to production.
The project lies within the Duyung Production Sharing Contract (PSC) in Indonesia’s Riau Islands Province.
The final investment decision (FID) positions Conrad to move into the development and cash flow generation phase, with first gas targeted for the fourth quarter of 2027.
Total capital expenditure to first gas is estimated at US$320 million (100 percent), of which West Natuna Exploration’s 25 percent share is approximately US$80 million, in line with previous guidance.
