Conrad Asia's Southwest Aceh Project Ahead of Schedule

Conrad Asia Energy Ltd.’s entry into ONWA and OSWA blocks’ management not only adds a new valuable portfolio for the Singapore-based company but also opens the way for investors to enter the oil and gas blocks.

Stepanus I Nyoman A. Wahyudi

30 Apr 2024 - 16.01
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Conrad Asia's Southwest Aceh Project Ahead of Schedule

Illustration - Upstream oil and gas activities in the middle of the sea./Bisnis/SKK Migas Doc.

Bisnis, JAKARTA — The discovery of potential gas resources of over 15 trillion cubic feet (TCF) in the Offshore North West Aceh (ONWA) or Meulaboh block and Offshore South West Aceh (OSWA) or Singkil block announced by Conrad Asia Energy Ltd. at the end of 2023 has brought a tailwind for the national oil and gas upstream sector.

So far, Aceh’s southwestern coastal region (Barsela) is considered relatively untouched by oil and gas investment, as exploration and exploitation activities have been more concentrated in the northern and eastern regions of Aceh.

According to data from the Aceh Oil and Gas Management Agency (BPMA), out of 10 areas with abundant oil and gas potential, only ONWA and OSWA blocks are located in Barsela waters. The rest, such as the Andaman Block, Block A, Block B, Lhokseumawe, Pase, South Block A, Nusantara-PEP Asset 1, and Seuramoe, are situated in Aceh's northern and eastern waters.

Conrad Asia Energy Ltd.’s entry into ONWA and OSWA blocks’ management not only adds a new valuable portfolio for the Singapore-based company but also opens the way for investors to enter the oil and gas blocks.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.