Tuna offshore gas field development plan receives $3 billion approval from Indonesia

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tuna offshore gas field development plan receives 3 billion approval from indonesia

According to Reuters, which cited SKK Migas, the Indonesian upstream oil and gas regulator, Indonesia has authorised the initial plan for the development of the Tuna gas field, which is located in the South China Sea between Indonesia and Vietnam.

Production at the tuna field is anticipated to cost $3.07 billion.

According to SKK Migas spokesperson Mohammad Kemal, the Tuna field will reach its full production capacity of 115 million standard cubic feet per day (Mmscfd) in 2027.

A 50% share in the Tuna block PSC is operated by Premier Oil Tuna (the Harbor Energy group of companies), and the remaining 50% is owned by ZN Asia (the Zarubezhneft Group of Companies).

Arifin Tasrif, the Indonesian energy minister, was earlier quoted by Reuters as saying that the field’s production will be sold to Vietnam beginning in 2026.

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According to Tasrif, Indonesia plans to use a gas pipeline to transport 100 to 150Mmscfd of gas from the Tuna block.

Dwi Soetjipto, chairman of SKK Migas, stated that the project’s development would highlight Indonesia’s maritime rights while also bringing about economic benefits.

There will be action in the border region, one of the world’s geopolitical flashpoints, according to Soetjipto.

In order for the upstream oil and gas project to serve as a political and economically significant statement of Indonesia’s sovereignty, the Indonesian navy will also help secure it.

The Tuna Block is 13 kilometres from the Vietnamese maritime economic zone’s boundary in the Indonesian exclusive economic zone.

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