Conrad Asia Energy has signed a memorandum of understanding (MoU) with PT Perusahaan Gas Negara, a subsidiary of Pertamina to develop Conrad’s two production-sharing contracts (PSCs) offshore Indonesia. The companies will jointly study commercialization options for the gas resources in the Offshore North West Aceh (Meulaboh) (ONWA) and Offshore South West Aceh (Singkil) (OSWA) PSCs and will further seek cooperation for the development and maintenance of small-scale LNG infrastructure.
Moreover, Conrad will continue to identify and assess commercialization options for the discovered resources, with THREE60 Energy and the study is expected to be completed by the end of March 2024.