Conrad Asia Energy Secures Milestone Gas Sales Agreement in Indonesia

Conrad Asia Energy Ltd (ASX: CRD), a natural gas exploration and development firm focused on Asia, has signed a landmark Gas Sales Agreement (GSA) with PLN Energi Primer Indonesia (PLN EPI) for the Mako Gas Field. The GSA ensures the domestic sale of 392 TBtu of gas until 2037 at a daily maximum of 111 Bbtud, with prices indexed to the Indonesian Crude Price. This move follows the Indonesian government’s directive revoking earlier contracts with PGN and Sembcorp. PLN EPI will finance and construct the pipeline to connect Mako to Batam, sparing Conrad infrastructure costs. This agreement supports Conrad’s planned farm-out and final investment decisions (FID) for the Duyung PSC. The Mako Field, one of the region’s largest gas discoveries, underpins Indonesia’s shift to cleaner energy and reinforces Conrad’s strategic positioning in Asia’s fast-growing gas market, where demand—especially from power-hungry regions like Batam—is surging

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