Regarding The Fate Of Russia's Substitute In The Tuna Block, Director General Of Oil And Gas: Wait 1-2 Months More!

Director General of Oil and Gas Tutuka Ariadji (Photo: VOI)

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) through the Director General of Oil and Gas, Tutuka Ariadji, provided the latest updates regarding the fate of the Tuna Block after being left by the Russian oil and gas giant, Zarubezhneft (Zn).

Tutuka said that currently, many companies are interested in oil and gas blocks located off the coast of the Natuna Sea which are right on the border with Vietnam and at least 3 companies are showing their seriousness in working on the Tuna Block.

"Now I think 3 (which proposes interest and is already shortlisted)," said Tutuka to the media crew at the Ministry of Energy and Mineral Resources Building, Tuesday, April 16.

For this reason, Tutuka said it would still take 1 to 2 months to decide on Zn's replacement in the Tuna Block.

"We'll wait 1-2 months," he added.

Tutuka said that currently Zn has agreed to sell his shares to new companies, but the government still needs to evaluate the right business and price.

"ZN has been milling, it's just looking for a business that is right at price and so on, it must be right," concluded Tutuka.

Previously, the Head of SKK Migas Dwi Soetjipto revealed that until now the process of farming out or exiting Zn from the Tuna Block is still in the data opening stage.

Meanwhile Deputy for Exploration, Development and Regional Management of SKK Migas Benny Lubiantara said Zn asked for additional time regarding the release of his participation rights by 50 percent from the Tuna Block.

However, Benny ensured that the decision regarding the release of the participation rights of the Russian state-owned company would be completed in the 1st quarter of this year.

"Yes, hopefully in the first quarter it will be enough. It's finished. Apparently there are quite a lot of enthusiasts," concluded Benny.

Just so you know, ZN has relinquished his participation rights to the Tuna Field due to Western state sanctions due to the geopolitical Russia-Ukraine conflict.

ZN manages the Tun Block with Premier Oil Tuna BV and each holds 50 percent of the participation rights.