Coro to buy Indonesia equity

摘要

Coro Energy has agreed to acquire a 15% stake in the Duyung Block offshore Indonesia, which holds the Mako gas field. Under the deal, Coro will pay US $4.8m and will also contribute $10.5m for the 2019 drilling cam- paign. Coro will buy the stake from West Natuna Exploration Limited (WNEL), which owns a 100% stake in the Duyung Production Sharing Contract (PSC). WNEL is owned by Conrad Petroleum (90%) and Empyrean Energy (10%).