The Mako Field is a very large gas accumulation with a lateral extent of approximately 340 square kilometres located adjacent to underutilised infrastructure and a strong energy market
Duyung PSC (1,145km2) is located in the West Natuna Basin, Indonesia, one of Asia's most prolific proven basins. Water depths range from 60 metres to 100 metres which only require jack-up rigs with associated drilling depths as shallow as 1,700 feet. This PSC is located in a highly strategic location, surrounded by the West Natuna Transport System, supplying natural gas to Singapore and Indonesia with both gas export and oil production facilities within 20 kilometres from the PSC.
The mako field appraisal
The Mako field is a shallow gas accumulation (1,700 feet) in the Intra Muda (Plio-Pleistocene) sandstone's in a large NE-SW elongated anticline, approximately 47 kilometres long and 16 kilometres wide. The field has been intersected by three separate wells, Cakalang-1. Tenggiri-1 and Mako-1 with petrophysical analysis confirming the presence of gas in all three wells. A fourth well, the Mako South-1 well was successfully drilled in June 2017 by Conrad to its planned total depth of 1,707 feet and is the only well in the field to have a conventional core taken across the target zone for further analysis and to be flow tested.
An independent conceptual field development study on the Mako field has estimated the gas initially in place (GIIP) to be 705Bcf with an upside scenario of 1,317Bcf. The recoverable contingent resources for the Mako field are 433Bcf (2C) and 646Bcf (3C) respectively.
Testing of the previously discovered gas-bearing sand at the Mako South well has established 23 feet of net pay in the shallow Intra Muda Formation, with excellent reservoir quality rock, far better than our original prognosis. The well flowed high-quality gas that is close to 100% methane, with no CO2, H2S, or other contaminants. No sand production was recorded during testing.
Gas flows at various choke sizes and reservoir pressures at different build-up periods were also recorded. Test results suggest that the reservoir consists of laterally continuous, high permeability sands in the multi Darcy range. A final stabilised rate of 10.9 million cubic feet per day was recorded. This rate was limited by the available down hole production testing equipment. Down hole pressure gauges confirmed no pressure depletion over the extended production test.
Mako is a very large gas accumulation with a lateral extent of approximately 340 km2. With the addition of the Mako South-1 well, four wells have now penetrated the shallow Intra Muda Formation, but Mako South-1 is the only well to have been production tested. Testing operations conducted over several days collected a raft of important data. The Company is currently progressing the plan of development to be lodged with the Government of Indonesia.
Conrad is the operator and 90% owner of the Mako South –1 well and the Duyung PSC together with AIM listed Empyrean Energy Plc who is the 10% owner.
Additional Prospects in DUYUNG PSC
Based on an analysis of the latest 2D and 3D seismic, additional high-impact exploration prospects have been identified in Duyung PSC. These prospects are located among the deeper synrift sequences and offer potentially recoverable reserves of more than 2Tcf of gas with condensate or close to 1 billion barrels of oil.