Asia, Mideast buyers looking at Indonesia's Tuna gas project

(Reuters) - Three to five potential investors from the Middle East and Asia have started assessing the Tuna natural gas project in a possible sale of Russian explorer Zarubezhneft's stake, Indonesia's upstream regulator said on Tuesday.

Indonesian authorities have opened access to the data on the project's oil and gas reserves so that potential investors can assess its value, Dwi Soetjipto, SKK Migas chairman, told reporters on the sidelines of the Indonesia Petroleum Association conference.

British firm Harbour Energy is partnering with Zarubezhneft on the gas field, located in the Indonesian waters of the South China Sea.

Zarubezhneft plans to pull out from the project because of a lack of progress following sanctions on Russian companies, he said.

Zarubezhneft did not immediately reply to a request for comment.

The U.S. and Europe have imposed the sanctions as a response to Russia's invasion of Ukraine, which Moscow calls a special military operation.

The Tuna field is expected to reach peak production of 115 million standard cubic feet per day of gas in 2027 which will be exported to Vietnam, where Harbour owned an existing gas processing facility.

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