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    Trans Mountain Pipeline Expansion Boosts China Oil Trade

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    UAE Energy Investments in the US

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    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

    Upstream-Exploration

    High-Risk Geographies in Upstream Exploration and Challenges

    Offshore-Drilling

    Innovations Driving the Future of Offshore Drilling

    Gato-do-Mato

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    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

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    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

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Indonesia Authorises $3 Billion Gas Block Development Plan

venkat by venkat
January 3, 2023
in News, Upstream
0

Indonesia has cleared the initial development plan for the offshore Tuna gas resource, with a total estimated commitment of $3.07 billion up to the start of production, according to upstream oil and gas regulator SKK Migas.

The Tuna field, which is located in the South China Sea between Indonesia and Vietnam, is expected to achieve its peak power of 115 million standard cubic feet per day (MMSCFD) in 2027, according to SKK Migas spokesperson Mohammad Kemal. According to prior statements made by Indonesia’s energy minister, natural gas from Indonesia’s Tuna field, which is run by a regional affiliate of London-listed Harbour Energy, would begin to be exported to Vietnam in 2026.

Dwi Soetjipto, the chairman of SKK Migas, stated on January 2 that the project’s construction would highlight Indonesia’s maritime entitlements in addition to its economic advantages.

In a statement, Dwi said that there would be activity in the border region, one of the world’s geopolitical flashpoints.

The upstream oil and gas project will be secured with help from the Indonesian navy, making it a political and economically significant statement about Indonesia’s sovereignty. Conflicts about which nation in the South China Sea has sovereign rights have recently halted energy development in that area. Chinese coast guards and maritime surveillance vessels have delayed work being done in the exclusive economic zones of Vietnam, Malaysia, and the Philippines.

Citing its own historical maps, China asserts sovereignty over practically the entire South China Sea. A 2016 ruling by an international arbitration tribunal invalidated these claims.

According to persons familiar with the situation who spoke to Reuters at the time, China ordered Indonesia to halt exploring for oil and natural gas in maritime area that both nations claim as their own in 2021.

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