Duyung Natuna Block Secures Investment Certainty, Poised to Deliver Positive Impact for the Nation

SKK Migas, together with Conrad Asia Energy and PT Nations Natuna Barat, has officially commenced the implementation phase of the Final Investment Decision (FID) for the development of the Mako Gas Field in the Duyung Working Area, Natuna Sea. This strategic project also involves prominent entrepreneur Hashim S. Djojohadikusumo through Arsari Group as the majority shareholder.

The FID implementation phase commencement was marked at the SKK Migas office in Jakarta on Monday (2 March 2026), attended directly by SKK Migas Head Djoko Siswanto and Arsari Group CEO Hashim S. Djojohadikusumo. The project is projected to become a new pillar of national energy resilience, with first gas production targeted for Q4 2027.

“This investment decision demonstrates the government’s and KKKS’s strong commitment to accelerating the development of potential gas fields. The Mako Gas Field is expected to make a significant contribution to national production,” said Djoko Siswanto in a statement on Monday (2 March).

The involvement of PT Nations Natuna Barat (an entity under Arsari Group) strengthens the Mako project’s financing structure. With financial support from Bank Negara Indonesia (BNI), the project is assured of a solid financial foundation to execute the drilling phase through offshore construction.

Hashim S. Djojohadikusumo affirmed that his company’s involvement is part of a long-term commitment to support Indonesia’s energy sovereignty.

“We are optimistic that this project can be executed professionally and on schedule. Beyond contributing to state revenues, this is a concrete step towards strengthening our energy resilience,” said Hashim.

The commercial viability of Mako gas has been secured through the signing of a Gas Sales Agreement (GSA) with PT PLN Energi Primer Indonesia (PLN EPI). As the sole offtaker, PLN will absorb the gas production to meet national power generation requirements.

Conrad Asia Energy Chairman Peter Botten appreciated the cross-sector collaboration that made this FID possible, from government agencies, national partners, to banking institutions.

The Mako project enters the main phase sequence from Pre-FID in 2025 through the target first gas in November 2027. Activities include engineering, procurement, construction, drilling, offshore installation, and commissioning and start-up. The Mako Gas Field is estimated to commence production (onstream) in Q4 2027 and is expected to deliver positive impact towards the sustainability of Indonesia’s upstream oil and gas sector.