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Conrad Asia Energy Ltd secures a second tranche of US$4 million from the Duyung farm-down, completing its funding process for the Mako Gas Field. The company retains a meaningful stake while ensuring development is fully funded.
Sep 10, 2026•about 4 hours ago
IndonesiaEnergyOil And GasDescription
Conrad Asia Energy has completed the farm-down of a 75% interest in the Duyung PSC, receiving a US$4 million second tranche payment. This funding underpins the Mako Gas Development, which is projected to deliver first gas by the end of 2027. The total consideration amounts to US$16 million, with previous tranches paid and future payments linked to production revenues. The transaction ensures that the development remains fully funded at US$320 million.
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