According to upstream oil and gas regulator SKK Migas, Indonesia has authorised the initial development plan for the Tuna offshore gas resource, with a total anticipated investment of $3.07 billion up to the start of production.
According to SKK Migas spokesperson Mohammad Kemal, the Tuna field, which is situated in the South China Sea between Indonesia and Vietnam, is anticipated to reach its peak production of 115 million standard cubic feet per day (MMSCFD) in 2027.
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.
In addition to the project's economic advantages, SKK Migas Chairman Dwi Soetjipto stated that its development would highlight Indonesia's maritime rights.
"There will be activity in the border area which is one of the world's geopolitical hot spots,"
"The Indonesian navy will also participate in securing the upstream oil and gas project so that economically and politically, it becomes an affirmation of Indonesia's sovereignty."
In recent years, arguments about which country in the South China Sea has sovereign rights have held hostage energy developments in that region. Work by Vietnam, Malaysia, and the Philippines in their exclusive economic zones has been impeded by Chinese coast guard or marine surveillance vessels.