Coro Energy completes acquisition of interest in Duyung PSC

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 22 May 2020 14:30

Coro Energy has announced that all necessary Indonesian regulatory approvals for the transfer of title of the 15% direct interest in the Duyung PSC (the PSC Interest) in the West Natuna Basin, offshore Indonesia, to Coro have now been received. Accordingly, final completion of the acquisition of the PSC Interest by the company from West Natuna Exploration has now been achieved.

The license holders of the Duyung PSC are now Conrad Petroleum (76.5% operated interest), Coro (15% non-operated interest) and Empyrean Energy (8.5% non-operated interest).

The publication of a revised independent reserve audit report from Gaffney Cline & Associates, following a successful appraisal drilling campaign in 4Q19, is expected later in the month.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/22052020/coro-energy-completes-acquisition-of-interest-in-duyung-psc/

Subsea7 announces final closing of joint venture with SLB and Aker Solutions

Monday 02 October 2023 11:00

The new business, which will adopt the OneSubsea name, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time.

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