Indonesia’s Controversial Field Stake Sale Clears Final Hurdle with Shareholder Approval
Coro Energy sells its 15% stake in the Duyung PSC to Conrad Asia Energy for $1.25 million in shares, resolving unpaid cash calls and consolidating Conrad’s control of the Mako field, now tied to Indonesia’s domestic gas market. The deal aligns with Indonesia’s push for domestic gas utilization, with final approval expected by late 2024.
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