Conrad Energy inks sale deal with Indonesia’s NOC ahead of Mako FID

The Market Herald03-28

Conrad Asia Energy (ASX:CRD) shares were unchanged heading into the second hour of morning trade on Thursday as the company unveiled a new deal with Indonesia’s National Oil Company (NOC). A binding ...

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Today’s pre-contract ahead of that contract is also binding – a large sign of confidence the deal will go through.\nHowever, Conrad must first be instrumental in the construction of a pipeline connecting the West Natuna assets to the domestic gas market infrastructure in Batam. \nIndonesia’s government basically requires foreign energy players to supply the domestic market – something Australia doesn’t require quite as much.\nAll in all, the deal will see 29.5% of Mako gas sales ported to Batam under the deal. Remaining gas will be sold to Singapore based on a term sheet inked mid-late last year.\n“These Key Terms are a very important milestone paving the way for a fully termed gas sales agreement and brings the company a step closer to the FID for the Mako development,” Conrad chief Miltos Xynogalas said.\n“This agreement, combined with Conrad’s recent signing of a Memorandum of Understanding for its Aceh gas resources also with PGN, will further advance the Government of Indonesia’s ambition to meet the fast-growing energy needs of the country.” \nCRD last traded at $1.00/sh.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422597488"}