Indonesia approves $3 billion investment for offshore gas block
Indonesia has approved the first plan of development for the Tuna offshore gas field with an investment of nearly $3 billion up to the start of production, Reuters reported on Monday, citing upstream oil and gas regulator SKK Migas.
The Tuna field, located in the South China Sea between Indonesia and Vietnam, is expected to reach peak production of 115 million standard cubic feet per day (MMSCFD) in 2027, SKK Migas spokesperson Mohammad Kemal said.
Natural gas from Tuna field, which is operated by a local unit of London-listed Harbour Energy, is expected to be exported to Vietnam starting in 2026, Indonesia’s energy minister has previously said.
China claims sovereignty over almost the entire South China Sea citing its own historical maps, claims that an international arbitration tribunal in 2016 ruled have no legal basis.
In 2021, China told Indonesia to stop drilling for oil and natural gas in maritime territory that both countries regard as their own, people familiar with the matter told Reuters at the time.
Published: 03-01-2023
