Indonesia approves Madura Strait block plan
Indonesia upstream regulator SKKMigas last week said it had approved the plan to develop Madura Strait block operated by Husky CNOOC Madura (HCML).
HCML, a joint venture comprising China’s CNOOC, Canada’s Husky Energy, and Indonesia’s Samudra Energy, will spend about $88mn to develop the project, SKKMigas said.
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According to the regulator, the Madura Strait block has gas reserves of about 38.04bn ft3 and the joint venture will drill two development wells. The first gas is expected in the third quarter of 2023.
The initial production rate is expected to reach 10.05mn ft3/day with the peak production expected in 2024 at 24mn ft3/d, SKKMigas said.