Medco has said the Natuna development is one of its two core focuses for 2023, with planned capital expenditure of $250 million. The company also controls the West Natuna Transportation System, a 656 km link that runs into Singapore.
In April, the company reported work on Akatara was 28% complete. It is on track to reach first in the first half of 2024. Jadestone took final investment decision (FID) on the field in June 2022.
The SC 38 consortium must also provide a decommissioning plan and budget, covering wells and facilities. This must include timing and costs, within 30 days of the renewal agreement.
ONGC intends to unlock the “vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security”.
The deal is the most significant since Velesto struck a deal with Hess in November 2022.
The company launched a well workover campaign on the area in June 2022, adding three horizontal wells to its portfolio.
Among the company’s plans, it sees gas as playing an important part. The company took final investment decision (FID) on the Akatara gas project in June 2022. It is 28% complete and should reach first gas in the first half of 2024.
Support for doing deals has been buoyed as a result of the European gas supply crisis, the CEO said. “There's an appreciation that we're going to need hydrocarbons and I think the money markets are seeing that as well,” he said, even while “trying to get an RBL from a bank is not going to happen”.
At the time, Petronas president and Group CEO Datuk Tengku Muhammad Taufik said the company shared Sabah’s “aspirations for mutual prosperity even as we both pursue sustainable development”.
Officials have recovered the body of the crew member and will return him to his family.
The venture’s main development now is Jerun. OMV expects this to start producing in 2024, with the net production of around 25,000 boepd.
The company claimed there was only a negligible impact on the environment. The response prompted the whistleblower to speak up.
Malaysia’s Petronas is the latest company tipped to be interested in acquiring a stake in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605)
Shell (LON:SHEL) has completed the sale of its Malampaya gas field in the Philippines to Prime Infrastructure Capital following regulatory approvals and consent from joint venture partners.
Papua New Guinea (PNG) offered Japanese companies favoured access to new gas field development opportunities and liquefied natural gas (LNG) processing projects in trade talks that focused on energy security, PNG Prime Minister James Marape said, reported Reuters.
Petronas today announced a gas discovery from its Cengkih-1 exploration well in Block SK 320 in the Central Luconia Province, about 220 kilometres off the coast of Bintulu, Sarawak, offshore Malaysia.
Chevron (NYSE:CVX) confirmed that its wholly owned subsidiary, Chevron New Ventures, has entered into a memorandum of understanding (MOU) with India’s Oil and Natural Gas Corporation (ONGC) to assess the exploration potential across a number of basins in India, the company told Energy Voice.
Indonesia may form a consortium to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605), the country’s investment minister said Thursday.
Harbour Energy is expected to start gas production from its Andaman II Block offshore Indonesia in 2028, according to a senior Indonesian government official.
Malaysia’s national oil company Petronas is considering acquiring further upstream acreage offshore Indonesia’s Aceh province as it seeks to develop more gas projects in the Southeast Asian nation. Significantly, more incentives are expected to be offered to encourage exploration investment.
Shell and Petronas have taken the final investment decision (FID) to develop the Rosmari-Marjoram gas project in Sarawak, Malaysia.
The Philippines is open to new talks with China on oil and gas exploration, the Southeast Asian nation’s top diplomat said.
The cost to add carbon capture and storage (CCS) to the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is owned by Japan’s Inpex (TYO:1605) and Shell (LON:SHEL) is expected to cost over $1 billion.
ExxonMobil (NYSE:XOM) and India’s Oil & Natural Gas Corporation (ONGC) have signed a heads of agreement covering deepwater exploration off the east and west coasts of India. The news bodes well for ONGC, which recently pledged to boost exploration investment by 150% to $4 billion.
Indonesian upstream regulator SKK Migas has confirmed that Repsol’s (BME:REP) Kali Berau Dalam (KBD) gas discovery, initially thought to be the country’s biggest find in 18 years, is significantly smaller than expected, putting the mega project in doubt.