Coro Energy has a 15% direct interest in the Duyung PSC, West Natuna basin, offshore Indonesia.
Highly successfully appraisal drilling campaign undertaken in Q4 2019 led to 80% increase in 2C resources to 495 Bcf (gross) and 108% increase in 3C resources to 817 Bcf (gross).
These have recently been evaluated by Gaffney Cline & Associates in their August 2022 CPR as detailed in the above table.
A revised Plan of Development has been approved by the partners & the Indonesian Ministry of Energy and Mineral Resources.
The operator has indicated that termed Gas Sales Agreements for gas sold into Singapore are under discussion with SKK Migas.
FID is expected by mid- 2023 with first gas in 2025.