Latham & Watkins has acted for Nations Natuna Barat (NNB), an Arsari Group subsidiary, on its purchase of a 75% stake in the Duyung PSC Offshore Indonesia gas project from Conrad Asia Energy.
The firm also advised on financing for the development of the Mako offshore gas field, which has an estimated USD320 million project cost.
The Mako field is located within the Duyung production-sharing contract (PSC) area. Conrad’s majority-owned subsidiary, West Natuna Exploration, holds the remaining 25% operating interest.
Singapore-based partner Timothy Hia led the Latham & Watkins team with counsel Rob Thompson and associates Hui-Yan Chew, Aakash Sardana and Tristan Tan.
The Mako offshore gas field development is structured in two phases. The initial phase will involve six development wells connected to a leased mobile offshore production unit, which is designed to process up to 172 million cubic feet of gas per day. Production is expected to begin in the fourth quarter of 2027.
