ZN Asia Ltd., the unit of Russia’ oil and gas company, Zarubezhneft, entered Indonesia by acquiring 50% of Premier Oil’ participating interest at Tuna block in Natuna Island. Premier Oil as the operator currently hold 100% of participating interest of the working area.

Head of the upstream oil and gas regulatory special task force (SKKMigas), Dwi Soetjipto, said last October, the Tuna Block field is getting closer to completing the exploration stage and a Plan of Development will be proposed soon. Beside the economic aspect, the Tuna block field has a strategic geopolitical role, because it is located on the border of Vietnam and is close to the South China Sea.