Conrad Asia Energy (ASX:CRD) is developing natural gas projects in shallow waters off the Indonesian coast and seeking to supply gas to Singapore and Indonesia. Conrad is well positioned to supply Asian, estimated to be world’s largest growing energy market. Regional breakdowns of primary energy demand in the Asia Pacific region estimate it will account for around 60% of the global energy demand increase from 2021 to 2050, with gas consumption set to grow around 78%. The International Energy Agency estimates that by as early 2025, Asia will account for half of the world’s electricity consumption.

Conrad Asia is in the right place at the right time to offer investors pure play exposure to the incredible potential of this rapidly expanding energy market, via its wholly owned subsidiaries and several operated tenements offshore of Indonesia in the form of Production Sharing Contracts. Conrad is one of the very few public companies exposed to what is the best macro energy story in the world.

Conrad holds a 76.5% operated interest in the Duyung PSC , with a revised POD approved by the Indonesian regulator seeing contingent resources increased by 458% (relative to the initial POD). The Duyung PSC includes the Mako gas field which contains close to 500 billion cubic feet, of which 297 billion cubic feet is net attributable to the joint venture where Conrad owns 76.5%. The company is currently in discussions with buyers in Singapore and Indonesia regarding gas sales agreements, with two Heads of Agreement already signed with buyers from Singapore.

The company recently signed two new Production Sharing Contracts for offshore northwest Aceh (“Meulaboh”) and southwest Aceh (“Singkil”), where Conrad will operate and hold a 100% Participating Interest in each block. These cover a combined working area of approximately 20,000 square kilometres, with each area containing gas discoveries. Water depths vary between 5-1,500 metres with the existing discoveries located in shallow water depths of 50-80 metres, respectively. The Aceh PSC’s provide Conrad with several additional gas projects, hence some diversification from a one project company on the back of Mako. The exploration success rates in these PSCs have been very high, and a good chance exists for Conrad to build its reserve base. Conrad has stated the deeper water areas contain multi-trillion cubic feet of exploratory, hence providing the company with big upside potential.


  • Peter Botten | Non-Executive Chairman

    Peter has extensive worldwide experience in the oil and gas industry, having held various senior technical, managerial and board positions in a number of listed and government-owned bodies. He formerly served as Chairman of AGL, Australia’s largest energy retailer, and former Managing Director of Oil Search Limited overseeing its development into a major ASX-listed company from 1994 until 2020.

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  • Miltos Xynogalas | Founder, Managing Director & CEO

    Miltos is a geoscientist with over 30 years of upstream experience with at least half of it gained in Indonesia. Prior to founding Conrad, Miltos worked for Shell International, Premier Oil and Transworld Oil in various roles ranging from technical and operational to supervisory and managerial, and has been involved in major discoveries in South East and West Africa.

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  • Mario Traviati | Non-Executive Director

    Mario brings nearly four decades of experience in working, analysing and investing in energy projects around the world. He currently serves as an Advisor to the Board – Corporate Development Pantheon Resources (London AIM listed company), and previously was the Founding Partner and Vice President of Business Development for Great Bear Petroleum which operates oil and gas properties on the North Slope of Alaska, and was the first Vice President – Head of Energy Research Asia-Pacific at Merrill Lynch Inc., where he supervised Merrill Lynch’s research efforts throughout 10 countries in the Asia-Pacific.

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