China officially told the Indonesian government to stop appraisal drilling at Harbour Energy’s (LON:HBR) Tuna Block offshore Indonesia in maritime territory that both nations view as their own during a months-long standoff in the South China Sea, reported Reuters.
China has again been contesting Malaysian oil and gas activity in the South China Sea. This time Beijing has been targeting Thai state-backed upstream player PTT Exploration & Production’s (BKK:PTTEP) upstream drilling operations offshore Sabah.
Chinese law enforcement vessels remain active at Harbour Energy’s (LON:HBR) Tuna Block in the Natuna Sea within Indonesia’s exclusive economic zone (EEZ), according to the latest analysis by Asia Maritime Transparency Initiative (AMTI). Their presence underscores Beijing’s assertion that it has territorial rights in this area of the South China Sea.
Jakarta is preparing to bolster its maritime security defences in the Natuna Sea, which is rich in fisheries and natural gas, after increasing incursions by Chinese vessels within Indonesia’s exclusive economic zone (EEZ). The news should provide some comfort to upstream oil and gas investors operating in the Natuna Sea.
Indonesia has sent a naval ship to tail a Chinese survey vessel that has been operating close to Harbour Energy’s Tuna Block in the Natuna Sea within Indonesia’s exclusive economic zone (EEZ).
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
A Chinese ship has been meddling with Harbour Energy’s ongoing drilling campaign at its Tuna block in the Natuna Sea offshore Indonesia. Significantly, the appraisal drilling is funded by Russia’s state-backed Zarubezhneft and the incident underscores the fact that Moscow’s energy interests in the South China Sea are increasingly being threatened by China.
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There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
Beijing has increased pressure on Hanoi thereby derailing yet another upstream project in the South China Sea.