WNEL signs rig contract for Mako gas field in Natuna Sea

Conrad Asia Energy's subsidiary, West Natuna Exploration (WNEL), has signed a declaration with Pertamina Drilling Services Indonesia (PDSI) for the proviso of a jack-up drilling rig.

The rig volition beryllium utilized arsenic portion of the improvement of the Mako state tract successful the Natuna Sea offshore Indonesia. The tract is afloat appraised and is portion of the Duyung accumulation sharing declaration (PSC) area.

The agreement, executed by the PDSI–ADES Consortium, volition spot the deployment of the Admarine 502 independent-leg cantilever jack-up rig.

The scope of enactment includes the drilling of six improvement wells and installation of a conductor enactment framework (CSF).

The declaration covers a steadfast play of 180 days, with options for further extensions, astatine a time complaint described arsenic successful enactment with prevailing determination conditions. Drilling operations are scheduled to statesman successful the 2nd 4th of 2027 (Q2 2027).

The ceremonial signing took spot astatine the Millennium Centennial Centre successful Jakarta, involving representatives from WNEL, PDSI and ADES Drilling Indonesia.

WNEL wide manager Danial Murtadho, PDSI president manager Avep Disasmita and ADES Drilling Indonesia Asia determination manager Khalid Abdelmuneim Khider Ahmed participated successful the ceremonial alongside institution absorption teams.

Conrad Asia Energy managing manager and CEO Miltos Xynogalas said: "This statement represents a captious milestone for the Duyung PSC JV [joint venture] arsenic we beforehand toward drilling astatine Mako.

"Securing a high-specification jack-up rig connected favourable presumption positions the institution to execute its upcoming improvement programme efficiently."

According to Conrad Asia Energy, the Mako task volition initially impact six improvement wells connected to a leased mobile offshore accumulation portion (MOPU).

Processed income state is to beryllium transported by astir 59km of 18in pipeline to the KF level successful the adjacent Kakap PSC and past delivered to the Indonesian home marketplace done the WNTS pipeline.

The full superior expenditure required to scope archetypal state is estimated astatine $320m (Rp5.81tn) for the full project, with WNEL's 25% stock equating to astir $80m.

An further proviso of astir $35m has been made to screen owner-supplied instrumentality and imaginable MOPU down payments.

Targeted operating costs are acceptable betwixt $70m and $80m per year, including pipeline proscription expenses.

Conrad Asia Energy is focused connected earthy state exploration and accumulation successful the shallow waters of Indonesia.

The institution holds respective operated tenements done PSCs, with the Mako state tract successful the Natuna Sea being its main asset.

Last month, West Natuna Exploration awarded the subsea umbilical, flowline and riser declaration for the Mako state tract to Timas Suplindo.

"WNEL signs rig declaration for Mako state tract successful Natuna Sea" was primitively created and published by Offshore Technology, a GlobalData owned brand.