Santos is seeking buyers for a 20-30% stake in its large Dorado oil project and Bedout exploration portfolio offshore western Australia estimated to be worth up to $200 million. Significantly, there is expected to be global interest in the sales process, which could be particularly appealing for Asian national oil companies (NOCs).
UK-listed Advance Energy has successfully raised the capital to acquire a 50% stake in the Buffalo project off East Timor. Drilling at the redevelopment project later this year is targeting a potential oil bonanza.
Santos chief executive Kevin Gallagher, reportedly one of the top candidates to replace Peter Coleman as Woodside chief executive later this year, has been offered a one-off, A$6 million ($4.5 million) “growth projects incentive” to see through the delivery of major developments at the Australian company until 2025.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
CNOOC, China’s third-largest oil company, confirmed it has extinguished a fire at a platform on its Penglai fields in northeast China. The fire is expected to cut crude output at the Penglai 19-3 field by around 600,000 barrels this year.
Oil and gas producers will be subject to tougher liabilities and rules around decommissioning in Australia in an effort to prevent a repeat of the Northern Endeavour fiasco, which is expected to cost taxpayers over $190 million.
Shell is gearing up to drill seven wells off the East Malaysian states of Sabah and Sarawak after awarding a $17.68 million contract to Velesto Drilling.
Three crew members are missing following a well blowout and fire at an oil production platform in the Bohai Sea in northeastern China earlier this week that stopped operations at one of the country’s largest oil fields.
Singapore-listed KrisEnergy – widely seen as a zombie company - is finally on the verge of collapse after production from its Apsara oilfield offshore Cambodia failed to meet expectations. Significantly, it should come as no surprise that the frontier basin disappointed.
Malaysia and Brunei have finally formalised a previously stalled unitisation agreement for the Gumusut-Kakap and Geronggong-Jagus East fields that straddle the international maritime boundary between the two countries. The about turn bodes well for Anglo-Dutch supermajor Shell, which has stitched up most of the acreage in Brunei’s offshore.
French oil major Total must continue to produce gas in Myanmar and pay taxes to the military junta to protect staff from forced labor and maintain electricity supplies, Chief Executive Patrick Pouyanne said in an op-ed in Le Journal du Dimanche newspaper.
Southeast Asia-focused upstream player KrisEnergy has finally completed the farm-out of its entire interest in Block 115/09 offshore Vietnam.
Malaysian national oil company (NOC) Petronas has declared force majeure on its Yetagun field off Myanmar, which is on the brink of civil war, due to the depletion of gas production.
Thailand’s PTT Exploration & Production (PTTEP) has struck a significant shallow-water oil and gas discovery in Block SK405B off the Malaysian state of Sarawak.
ConocoPhillips is set to drill up to three wells off the Malaysian state of Sarawak after hiring a jack-up drilling rig from Malaysia’s Velesto Energy.
CNOOC, China’s third largest oil company, is expected to start production at Lingshui 17-2, a large deep-water natural gas field in the South China Sea, during the first half of 2021.
Southeast Asia-focused upstream player KrisEnergy has yet again delayed the completion date of the proposed farm-out of its entire interest in Block 115/09 offshore Vietnam.
Australian-listed producer Bass Oil is planning new development drilling at its onshore oilfields in south Sumatra as it seeks to double its output in Indonesia over 2022.
Malaysia’s national upstream company Petronas Carigali has hired two jack-up rigs from Velesto Energy for a campaign this year.
Indonesia’s Saka Energi is pressing ahead with expansion projects at its Pangkah production sharing contract offshore East Java, Indonesia.
The Indonesian government has welcomed an Australian court ruling ordering Thailand’s PTT Exploration & Production (PTTEP) to pay compensation to Indonesian seaweed farmers following the 2009 Montara oil spill. The total bill could top more than $262 million.
Italy’s Eni has started drilling a key shallow-water exploration well a short distance from its large Ken Bau discovery offshore Vietnam.
Sinopec, China’s second-largest energy company has made a significant oil and gas find in the remote Tarim basin in the country’s north-west Xinjiang region.
Petronas Carigali is aiming to take a final investment decision (FID) on its Bestari deep-water oilfield development offshore Sabah in East Malaysia this year.
Repsol is studying the potential of a giant geological carbon capture and storage project in Sakakemang in Indonesia.