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JAKARTA - Ripples from the Russia-Ukraine war are being felt in far-off Indonesia, with sanctions threatening the future of a US$3 billion joint natural gas project in the North Natuna Sea and misbehaving Russian visitors in danger of losing Bali as a popular safe haven.
For British firm Harbour Energy, the boom may be about to be lowered on its newly discovered Tuna block, close to Indonesia’s maritime border with Vietnam, because of its 50% partnership with Russia’s state-owned Zarubezhneft oil company.
“Work on the project has now largely been suspended as a result of European Union (EU) and United Kingdom (UK) sanctions imposed on Russian entities,” Harbour Energy told Asia Times in a statement.
“Those prevent us working with our current joint venture partner in Tuna, a Russian company, in many of the areas needed to progress an upstream development project. We are continuing certain limited activities on Tuna that are permitted by law.”