Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTSalong DebbarmaMon, June 8, 2026 at 4:18 PM GMT+2 2 min readConrad Asia Energy’s subsidiary, West Natuna Exploration (WNEL), has signed a contract with Pertamina Drilling Services Indonesia (PDSI) for the provision of a jack-up drilling rig.The rig will be used as part of the development of the Mako gas field in the Natuna Sea offshore Indonesia. The field is fully appraised and is part of the Duyung production sharing contract (PSC) area.The agreement, executed by the PDSI–ADES Consortium, will see the deployment of the Admarine 502 independent-leg cantilever jack-up rig.The scope of work includes the drilling of six development wells and installation of a conductor support frame (CSF).The contract covers a firm period of 180 days, with options for further extensions, at a day rate described as in line with prevailing regional conditions. Drilling operations are scheduled to begin in the second quarter of 2027 (Q2 2027).The formal signing took place at the Millennium Centennial Centre in Jakarta, involving representatives from WNEL, PDSI and ADES Drilling Indonesia.WNEL general manager Danial Murtadho, PDSI president director Avep Disasmita and ADES Drilling Indonesia Asia regional director Khalid Abdelmuneim Khider Ahmed participated in the ceremony alongside company management teams.Conrad Asia Energy managing director and CEO Miltos Xynogalas said: “This agreement represents a critical milestone for the Duyung PSC JV [joint venture] as we advance toward drilling at Mako.“Securing a high-specification jack-up rig on favourable terms positions the company to execute its upcoming development programme efficiently.”According to Conrad Asia Energy, the Mako project will initially involve six development wells connected to a leased mobile offshore production unit (MOPU).Processed sales gas is to be transported by nearly 59km of 18in pipeline to the KF platform in the adjacent Kakap PSC and then delivered to the Indonesian domestic market through the WNTS pipeline.The total capital expenditure required to reach first gas is estimated at $320m (Rp5.81tn) for the entire project, with WNEL’s 25% share equating to approximately $80m.An additional provision of around $35m has been made to cover owner-supplied equipment and potential MOPU down payments.Targeted operating costs are set between $70m and $80m per year, including pipeline transportation expenses.Conrad Asia Energy is focused on natural gas exploration and production in the shallow waters of Indonesia.The company holds several operated tenements through PSCs, with the Mako gas field in the Natuna Sea being its principal asset.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info