Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
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Asia Oil and Gas news and updates
Castorone off Scarborough work for at least a month
Saipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Saipem’s Castorone chalks up second accident in a month
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
All Asia Posts
Kazakh claims against Kashagan oil majors rise to $160 billion
Kazakhstan’s arbitration claims against a group of international oil majors that developed the Kashagan field escalated above $160 billion after the country alleged some deals were tainted by corruption, according to people familiar with the matter.
European fossil fuels consumption falls below 70% for ‘first time since industrial revolution’ – EI Statistical Review
Dependence on fossil fuels in major advanced economies “is likely to have peaked” according to the Energy Institute (EI), after European use of hydrocarbons fell below 70% of primary energy for the first time since the industrial revolution – driven by demand reduction and renewable energy growth.
Russian oil flows tick up as Moscow pivots from export curbs
Russia’s crude exports edged higher in the week to May 19, as Moscow prepares to replace a ceiling on overseas shipments with a production limit favored by its OPEC+ partners.
CessCon Decom breaks ground on Brunei decommissioning yard
Scottish oil and gas removals firm CessCon Decom has broken ground on its Brunei decommissioning and marine maintenance facility, which is set to launch in 2025.
Glencore Group nears deal for Shell’s Singapore oil refinery
A group including commodity trader Glencore Plc and Indonesian chemicals business PT Chandra Asri Pacific is in advanced talks to buy Shell Plc (LON:SHEL) assets in Singapore in a deal that could be worth about $1 billion, people with knowledge of the matter said.
Kazakhstan’s compensation claims against Kashagan oil firms jump to $150 billion
Companies including Eni, Shell, ExxonMobil and TotalEnergies invested close to $55 billion to develop Kashagan
AF Offshore Decom teams up with Sapura in APAC entry
Sapura Energy and Norway’s AF Offshore Decom have launched a new decommissioning venture, Kitar Solutions.
Trafigura faces Mongolia oil loss in new blow for trading giant
Trafigura Group is facing sizable losses related to its oil activities in Mongolia, according to people familiar with the matter, in a fresh blow for the company that has risen to become one of the world’s top commodity traders.
Europe coming to terms with LNG, Shell says, but still short
“Two or three years ago all you would hear about [from policymakers] was decarbonisation. Now, I think there’s much more balanced conversation around security of supply, affordability and decarbonisation,” Hill said.
Boskalis tees up vessels to recover sunk Velesto oil rig
The Naga 7 rig capsized in 2021.
Valeura signs up Borr rig to continue southern Thailand expansion
There were more near field exploration targets planned for 2024. These, it said, would support further expansion at the project. Valeura has raised the possibility of a Nong Yao D platform to follow Nong Yao C.
Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
Philippines plans to explore oil-rich sea amid China tension
The Philippines is building defense alliances with the US and other security partners to help pave the way for resource exploration in the oil-and-gas-rich South China Sea, the nation’s top defense official said, amid heightened tensions with Beijing.
‘Agreement’ reached after Mermaid accused of months-overdue payments
ConnTrak complained that Mermaid Group owed $635,000 in undisputed invoices which were months overdue.
Russia’s oil drilling boom proves Moscow’s resilience to Western sanctions
Russia was on pace for a second year of record oil drilling in 2023, further evidence of the nation’s resilience to Western sanctions.
Aberdeen’s Cutting Underwater Technologies toasts record year in 2023
Aberdeen's Cutting Underwater Technologies (CUT) has posted record revenue and project numbers in 2023.
Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Opinion: Decom Mission gathering pace alongside energy transition
The energy industry continues to develop at pace, and that’s reflected by Decom Mission activity and that of our members.
Harbour spuds Gayo amid high follow-on hopes
"We hope that this exploration well will discover large oil and gas reserves, as we discovered through drilling the Layaran-1 well," Hudi said.
Valeura completes Nong Yao drilling, preps for Wassana return
“This campaign focused on the area first developed at Nong Yao, and illustrates our team’s ability to add volumes through infill drilling and to extend the economic life of our legacy producing assets.”
Japanese oil executive sacked after whistleblower reports drunken ‘hug’
The parent company of former North Sea operator JX Nippon disciplined three executives over the incident.
International waterway woes pile up price pressures
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.