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.