Shell seeks to divest Malaysia assets
Shell is seeking to divest its non-operated interests in the amended 2011 Baram Delta enhanced oil recovery (EOR) production-sharing contract (PSC) and the SK 307 PSC, both offshore Sarawak in Malaysia.
E&P
IN-VR promotes East Timor’s upstream licensing round
East Timor’s national hydrocarbon agency, the ANPM, and London-based government marketing agency, IN-VR, have teamed up to promote the Southeast Asian nation’s second upstream licensing round.
Eni sells Pakistan assets to Prime
Italy’s Eni has sold its Pakistan business to Prime International Oil & Gas Company as part of a plan to streamline its upstream portfolio to focus on strategic assets.
Blow for Santos as China’s ENN exits
Santos said today that its largest shareholder had sold about one third of its stake worth A$785 million ($603.7 million) in the Australian gas producer. This ends a strategic relationship with ENN Group, which is one of the largest gas distributors in China.
Thailand’s PTTEP to outperform
Analysts at Macquarie bank believe Thai upstream player PTT Exploration & Production (PTTEP) is set to outperform as it is bolstered by strong crude prices and the mitigation of risk that output will disappoint at Erawan.
Philippine tycoons jostle for Shell’s Malampaya stake
Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field.
Indonesia’s Pertamina plans $92 billion spend
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
Chinese oil majors undervalued
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Chevron cleans up Indonesian oil spill
Chevron has successfully cleaned up an oil spill from one of its pipes, at the Dumai Port in Riau, Indonesia, that is used to ship hydrocarbons from its Rokan Block.
Chevron reports Indonesian oil spill
Chevron has spilled an unknown quantity of oil from one of its pipes, at the Dumai Port in Riau, Indonesia, that is used to ship hydrocarbons from its Rokan Block.
Woodside stops Myanmar work after violence
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Jadestone seeks FPSO for Vietnam
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
Malaysia unveils deep-water and CCS opportunities
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Repsol’s Indonesian wildcat targeting 4 Tcf of gas
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
Petronas strikes oil off Indonesia
Malaysian national oil company (NOC) Petronas has hit oil at its North Madura II production-sharing contract (PSC) offshore East Java, Indonesia.
Pertamina tussles with Chevron over Rokan EOR
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.
PTTEP strikes more gas off Malaysia
Thai national oil company PTT Exploration & Production (PTTEP) has hit sweet gas with its first exploration well, the shallow-water Dokong-1, in Block SK417, off the Malaysian state of Sarawak.
Philippines pushing for upstream renaissance
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
TechnipFMC wins Malaysia deep-water deal
UK-based engineering giant TechnipFMC has won a deal worth between $250 million and $500 million for a key contact at the Petronas-operated Limbayong deep-water development offshore Malaysia.
Woodside slammed for Myanmar stance
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
Petronas readies 13 blocks for 2021 offshore round
Malaysia will offer 13 offshore exploration blocks, including discovered fields and deep-water opportunities, as part of its Malaysia Bid Round (MBR) 2021 due to launch on 26 February.
ConocoPhillips wins Malaysia Block offshore Sabah
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
Protesters call on Total, PTTEP and Petronas to stop Myanmar payments
Transparency campaigners in Myanmar have appealed to foreign upstream producers to stop paying revenue to the military-led government which seized power in coup on 1 February.
PTTEP and Petronas start up key Malaysian deep-water gas field
News that Thailand’s PTT Exploration & Production (PTTEP) and Petronas have started first deep-water gas production from Block H bodes well for Malaysia’s vision to attract further investment in its deeper waters.
Pertamina seeks international partners to boost Indonesia upstream
Indonesian national oil company (NOC) Pertamina is seeking to farm-down stakes in some of its key domestic assets taken over from international oil companies (IOCs) exiting Indonesia.