Coro's vision is to build a mid-tier south East Asian energy company, supporting the regional transition to a low carbon economy.
Coro has a 15% interest in the Duyung PSC which contains the Mako gas field, an independently certified 2C gas resource of 495 Bcf (gross, full field). The Mako field is one of the largest gas fields to be discovered in the prolific West Natuna basin, and its proximity to infrastructure and markets underpins the value of Coro’s investment in the asset.
GDP in the ASEAN region is forecast to more than double to $20 trillion by 2040, resulting in increasing energy demand. To meet emissions targets and boost energy independence and security, significant investment in renewable energy and energy storage is planned in South East Asia – up to $500 billion by 2040. Further investment in gas is also required to replace coal, which emits twice as much carbon dioxide as cleaner burning natural gas and currently remains a major source of energy generation in South East Asia. Coro plans to invest in assets and businesses which are supporting the energy transition in the region.
Capital will only be allocated to those investments where there is a clear path to monetisation for Coro shareholders. We envisage reinvesting earnings to achieve our aspiration of building a mid-tier South East Asian energy company.