In December 2021, China and Indonesia had a standoff over E&P in the southern South China Sea that involved unequivocal politico-military intimidation. While China has done this to the Philippines, Vietnam, and Japan, this was a first for Indonesia. The big takeaway here is that the hostilities risk level for offshore Indonesia E&P has significantly increased. This also means the same for Association of Southeast Asian Nations (ASEAN) offshore E&P, signaling an accelerating trend. London-based Harbour Energy, a key player in ASEAN E&P, is feeling the heat.
展开▼
