Latham & Watkins has advised PT Nations Natuna Barat (NNB), a subsidiary of Arsari Group, in connection with the acquisition of a 75% interest in the Duyung PSC Offshore Indonesia from Conrad Asia Energy. Latham also advised on the related financing for the development of the Mako offshore gas field, with total project costs estimated in the region of US$320 million. The Mako field lies in the Duyung production sharing contract area, where Conrad’s majority owned subsidiary West Natuna Exploration holds a 25% operating stake and is partnered by NNB.
The Mako development is structured as a two-phase program initially comprising six development wells tied back to a leased mobile offshore production unit, with a design capacity of 172 million cubic feet per day of gas. Production start-up is targeted for the fourth quarter of 2027.
The Latham team was led by Singapore finance partner Timothy Hia and counsel Rob Thompson, with associates Hui-Yan Chew, Aakash Sardana, and Tristan Tan.
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