The South East Asian energy company with a natural gas and clean energy portfolio Coro Energy announced that the Indonesian Ministry of Energy and Mineral Resources has now approved the updated Plan of Development for the Mako Gas Project within the Duyung PSC. Details of the Updated Mako PoD were announced by the Company on 9 September 2022.Updated Mako PoD based upon Contingent Duyung PSC Resources of 384 billion cubic feet gross within the Duyung PSC area which represents some 297 billion cubic feet net attributable* to 100% of the Duyung PSC Joint Venture.Indonesian government approval to export up to 100% of gas production to Singapore.The Operator is targeting production from the Mako Gas Project to commence in 2025 under the Updated Mako PoD at up to 120 million cubic feet of gas per day.Coro holds a 15% interest in the Duyung PSC in which the Mako Gas Project is located.Development of the Mako Gas Project will be in line with Indonesia's stated objective of doubling domestic gas production by 2030.Importation of pipeline gas would provide secure and reliable energy to Singapore that is less carbon intensive than LNG.
The South East Asian energy company with a natural gas and clean energy portfolio Coro Energy announced that the Indonesian Ministry of Energy and Mineral Resources has now approved the updated Plan of Development for the Mako Gas Project within the Duyung PSC. Details of the Updated Mako PoD were announced by the Company on 9 September 2022.Updated Mako PoD based upon Contingent Duyung PSC Resources of 384 billion cubic feet gross within the Duyung PSC area which represents some 297 billion cubic feet net attributable* to 100% of the Duyung PSC Joint Venture.Indonesian government approval to export up to 100% of gas production to Singapore.The Operator is targeting production from the Mako Gas Project to commence in 2025 under the Updated Mako PoD at up to 120 million cubic feet of gas per day.Coro holds a 15% interest in the Duyung PSC in which the Mako Gas Project is located.Development of the Mako Gas Project will be in line with Indonesia's stated objective of doubling domestic gas production by 2030.Importation of pipeline gas would provide secure and reliable energy to Singapore that is less carbon intensive than LNG.
