Indonesia, July 24 -- Indonesia has commenced the construction of the Makassar Strait North Hub, a US$15 billion national strategic project aimed at unlocking ultra-deepwater natural gas reserves and driving economic growth.

Upstream oil and gas regulator SKK Migas stated the megaproject represents one of the largest foreign and domestic investments in Indonesia's energy sector.

"It opens up opportunities for the application of new technology and investment in domestic oil and gas fabrication development," SKK Migas head Djoko Siswanto said during the first steel-cutting ceremony for the project's Floating Production, Storage, and Offloading (FPSO) facility in Karimun Regency, Riau Islands, on Thursday (July 23).

Operated by Searah-a j...