Jadestone buys maiden Malaysia assets
UK listed Jadestone Energy is buying SapuraOMV’s Peninsular Malaysia assets in a deal worth up to $15 million that will increase the company’s total reserves by more than 30%.
E&P
Asia Pacific drives global upstream activity
Asia Pacific has been driving global upstream sanctioning activity over recent months with multiple projects approved in Malaysia and Australia.
Little hope for financially crippled KrisEnergy after Cambodia review
Singapore’s KrisEnergy, which is on the verge of collapse, has received a disappointing performance update on its Apsara oil field offshore Cambodia. The field was the financially crippled Singapore-listed company’s last hope to prevent it from going bust.
Thailand’s PTTEP outperforms after “bargain” Oman acquisition
Thailand’s PTT Exploration & Production (PTTEP) reported net profit of $376 million for the first quarter 2021 on the back of higher oil prices and gains from the “bargain purchase” of Oman Block 61 from BP.
Petroleum ministry tells India’s ONGC to sell oil fields and find foreign partners
The Indian Ministry of Petroleum and Natural Gas has reportedly told state-owned ONGC to sell stakes in producing oil fields to private companies and find foreign partners for gas fields in the prolific Krishna Godavari (KG) basin.
Gas dominating Indonesian upstream developments
GlobalData expects 36 upstream projects to start operations in Indonesia between 2021 and 2025, with natural gas developments making up around two-thirds.
Indonesia misses first quarter production targets
Indonesia's first-quarter crude and natural gas production volumes missed their targets due to technical issues at wells and delays at BP's Tangguh liquefied natural gas (LNG) project, data from upstream oil and gas regulator SKK Migas showed.
BP and Reliance boost KG-D6 deep-water output offshore India
BP and India’s Reliance Industries have started production from a second ultra-deepwater gas field in the Krishan Godavari (KG) basin off India’s east coast.
Eni and Neptune start pumping from Merakes offshore Indonesia
The Eni-led Merakes deep-water development in the East Sepinggan block offshore Indonesia has started gas production in the Kutei basin.
Baron Oil boosts stake in Chuditch off East Timor
UK-listed Baron Oil has boosted its stake in the Chuditch gas discovery and surrounding acreage offshore East Timor.
Vultures start to circle Singapore’s KrisEnergy
Singapore’s KrisEnergy is on the verge of collapse and eagle-eyed investors, seeking assets at bargain prices, are preparing to pick over the company’s carcass. However, given KrisEnergy’s recent dismal performance in Cambodia, there is not much left of interest.
More woe for Pertamina as Chevron readies Rokan handover
Pertamina is set to take over the giant Rokan block from Chevron in Indonesia, but the Indonesian national oil company (NOC) appears to have no electricity supply to operate the site.
Petronas snaps up small field development in Malaysia on new terms
Malaysia’s national oil company Petronas has awarded the production sharing contract (PSC) for the South East Collins Cluster under the newly introduced Small Field Asset (SFA) PSC terms, to Vestigo Petroleum.
East Timor set for big offshore well as Buffalo deal completed
Australia’s Carnarvon Petroleum is one step closer to seeing what BHP and Nexen left behind at the historic Buffalo field offshore East Timor. An exploration well is set to be drilled in late 2021 following the completion of a farm-out deal with UK-listed Advance Energy.
ExxonMobil starts up West Barracouta gas field offshore Australia
ExxonMobil believes its latest field development will likely be the largest domestic gas project for eastern Australia this decade after the $400 million West Barracouta project started up in the Gippsland basin.
Petronas starts up Turkmenistan field
Malaysian national oil company Petronas is ready to start production from its Garagol Deniz West field in the Turkmenistan area of the Caspian Sea, some eight years after a platform jacket was installed.
Duterte won’t challenge China at sea unless it drills for oil
Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
Offshore development suspended as PNG changes the rules again
Twinza is suspending the development of its Pasca A offshore project in Papua New Guinea (PNG) after the government reneged on a previous agreement and increased its demands.
UK’s Pharos Energy excited by Vietnam potential
UK-listed Pharos Energy is excited about its upcoming Vietnam activities with a 3D seismic shoot lined up over a high-potential exploration permit and a six-well production drilling programme set to start at its Te Giac Trang offshore oilfield.
Petronas awards exclusive downhole contract
Malaysian national oil company Petronas has awarded an exclusive three-year contract to Welltec as the sole provider of downhole conveyance and powered mechanical services in Malaysia.
Shareholders ready to rage at Singapore’s KrisEnergy
Singapore-listed KrisEnergy, which appears to be on the verge of collapse, has received a requisition notice from two shareholders requesting an extraordinary general meeting (EGM), over concerns about the restructuring of the troubled upstream player.
Pertamina to double capital spending
Indonesian national oil company (NOC) Pertamina plans to spend $10.7 billion in 2021. This is more than double its capital spend of $4.7 billion last year.
Emissions and Qatar are neglected risks in Woodside’s Scarborough LNG project
Investors are in the dark about the financial implications of emissions from Woodside Petroleum’s proposed Scarborough liquefied natural gas (LNG) development at the North West Shelf offshore Western Australia, according to the Institute for Energy Economics and Financial Analysis (IEEFA)
Indonesia’s Medco makes offshore Block B investment
Indonesian-listed MedcoEnergi is accelerating development of its offshore Block B in the Natuna Sea in Indonesia.
Eni expands its footprint around big gas find in Vietnam
Italy’s Eni has expanded its acreage position around a major gas discovery offshore Vietnam after acquiring a 100% interest in Block 115/09 from struggling Singapore company KrisEnergy.