Indonesia OKs Madura strait gas project

Jakarta has greenlit plans for a gas project in the Madura strait, off the coast of eastern Java

Indonesian oil and gas regulator SKKMigas has approved plans by joint venture Husky-Cnooc Madura Limited (HCML) to develop the MBF field. The partnership comprises Canadian firm Husky Energy—which was acquired by fellow Canadian independent Cenovus earlier this year—with 40pc,  Chinese state-owned Cnooc, also with 40pc, and Indonesian independent Samudra Energy, which holds the remaining 20pc. The MBF field is scheduled to start production in the third quarter of 2023, initially at a rate of 10.05mn ft³/d (285,000m³/d), before reaching a peak of 24mn ft³/d in 2024. MBF’s reserves are potentially as high as 38bn ft3. The joint venture plans to invest around $88mn, and the field is expected to