Our international expansion strategy is underpinned by our operational experience with an energy portfolio of natural gas assets and renewable wind and solar and our knowledge of the South East Asian market.
The Company acquired its flagship asset in early 2019, a 15% interest in the Duyung PSC. Following a highly successful appraisal drilling campaign in Q4 2019, we unlocked a 79% increase in 2C resource. The Duyung asset is situated in the West Natuna Basin offshore Indonesia, close to the West Natuna transportation system which delivers gas to Singapore - a country with high gas prices and supply shortages. In September 2020, we broadened our strategic focus to include low carbon energy assets including renewables, recognising that the global energy transition is well underway and significant investment in clean energy is required in order to meet climate goals.
