Conrad Asia Signs Gas Sales Agreement With Indonesia's National Oil Company

MT Newswires Live06-24

Conrad Asia (ASX:CRD) on June 21 entered into an agreement for the sale of the domestic portion of Mako gas with PT Perusahaan Gas Negara, the gas subsidiary of Indonesia's national oil company PT Pertamina (Persero).

The total contracted gas volume is up to 122.77 trillion British thermal units, with estimated plateau production rates of 35 billion British thermal units per day, according to a Monday filing with the Australian bourse. The terms of the gas sales agreement are confidential.

The agreement will be subject to the construction of a pipeline connecting the West Natuna Transportation System with the domestic gas market in Batam and it forms part of Conrad Asia's domestic market obligation.

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