Key developments in Conrad Asia's gas exploration

Conrad Asia Energy (ASX:CRD) has announced updates on its commercialisation activities for its offshore Aceh Production Sharing Contracts (PSCs) in Indonesia. The company has identified significant shallow-water gas resources, with an estimated gross 2C Contingent Resource of 214 billion cubic feet (Bcf) of sales gas. Conrad is considering various commercialisation options, including small-scale LNG projects.

Conrad Asia's strategic path forward

Conrad Asia Energy is advancing its Aceh PSCs projects by exploring small-scale LNG and other commercialisation options. The company holds a 100% interest in these PSCs, covering 20,000 square kilometers. The Competent Persons Reports estimate a gross 2C Contingent Resource of 214 Bcf of sales gas. Conrad has signed an MOU with PT Perusahaan Gas Negara Tbk (PGN) for potential LNG provision. A study by THREE60 Energy confirms the technical feasibility of small-scale LNG, supporting a 20-40 million standard cubic feet per day supply. Future plans include a 3D seismic survey and seeking partners for deep-water exploration. Conrad's strategic partnerships, resource estimates, and ongoing exploration underscore its commitment to expanding its gas portfolio in Indonesia.

Executive insights on Aceh gas potential

Managing Director and CEO, Miltos Xynogalas, expressed optimism about the progress and potential of Aceh gas resources, emphasizing the growing opportunities in the region's gas markets.