Zarubezhneft, a Russian oil and gas company, is making plans to divest its stake in the Tuna gas project located off Indonesia in the South China Sea, according to Indonesia's upstream regulator SKK Migas. The Tuna field, expected to be commissioned in 2026, will have a peak production capacity of 115 million cubic feet of gas per day.
Currently, Premier Oil Tuna, a part of the Harbour Energy group of companies, operates the Tuna block PSC with a 50% stake. The remaining 50% stake is owned by ZN Asia, a part of the Zarubezhneft Group of Companies.
Harbour Energy stated that the progress of the Tuna project has been impacted by the sanctions imposed by the EU and the UK on Russia in response to Moscow's incursion into Ukraine. These sanctions have also limited Harbour's ability as the operator to provide certain services to Russian entities. Harbour Energy is currently evaluating its options to ensure the project's progress.
Benny Lubiantara, a senior official at SKK Migas, confirmed that Zarubezhneft is in the process of divesting its stake and that Harbour Energy will seek a new partner, although the identity of the new partner is yet to be determined.
Earlier this year, SKK Migas approved the initial development plan for the Tuna offshore gas field, which is set to commence production in 2026. Located in the Indonesian exclusive economic zone, the Tuna Block is situated 13km from the border of the Vietnamese marine economic zone. The field is expected to contribute to Indonesia's gas production with a peak capacity of 115 million cubic feet of gas per day.