Will the Latest Discovery at Mako Field Boost Conrad’s Gas Output?

By Editorial Team 27/05/2020
Summary

Conrad Petroleum Ltd, the operator of the Duyung Block, revealed that the latest independent resource audit showed that the Mako Field, an offshore oil and gas block, was one of the largest gas fields ever discovered in the West Natuna Basin. The Gaffney Cline and Associates’ (GCA) audit dated May 22, 2020, confirmed that the field’s 2C (contingent) recoverable resources increased by 79 percent to 495 Bcf, compared with the 2019 audit, while the 3C ones rose by 108 percent.

Conrad’s CEO, Miltos Xynogalas, said that the GCA audit results were extremely gratifying because they confirmed the vast resources of the Mako Field and endorsed Conrad’s high-quality technical work. “Over the last three years, the company drilled three successful wells and undertook numerous rigorous technical studies,” he explained on Tuesday (5/26).

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