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.
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.
In September, it sold non-operated stakes in the Kaybob Duvernay and Placid Montney for $104 million. The plan is to invest some of the proceeds in international works.
“We're both highly motivated to get the asset back up and operating again. They have a vessel they put capital into. They obviously want to be getting paid and making a return on that,” he said.
Jadestone CEO and president Paul Blakeley said Montara had been a “real problem”. The defect in July occurred in a tank that had already been inspected, he explained to Energy Voice.
Thailand’s largest natural gas producer is ramping up output to avoid a renewed power crisis.
The biggest oil producer in the United Arab Emirates is buying a stake in a natural gas field in Azerbaijan, marking the company’s first major international purchase of upstream hydrocarbon assets.
One of those wells has been transferred to PTTEP for the Rotan NFE appraisal well, offshore Sabah. The drillship should begin this well in December 2023, with work taking 21 days.
For PNOC to provide information to the state on the area, it would require approval from CNOOC and Petrovietnam. This, the Supreme Court said, was unacceptable.
“The successful commissioning of the Enping 15-1 oilfield CCS demonstration project will strongly support the company’s efforts in increasing reserves and production and pursuing green and low-carbon development,” said CEO Zhou Xinhuai.
Valeura is carrying out refurbishment work on the FPSO, worth $9mn. This is intended to ensure ongoing reliability and extend its class certification.
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”.
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”.
"It is important for us to ensure the uninterrupted oil supply chain from Malampaya as it accounts for 40% of Luzon’s power requirement. Any interruption to this line may mean a minimum of a 10-hour blackout,” said Carlos.
Jadestone Energy has announced an investment programme worth up to $140 million for 2023 as it looks to first gas from its Akatara venture next year.
India’s Oil and Natural Gas Corp. is preparing to bet billions of dollars on deepwater and ultra-deepwater exploration, boosting spending in a push that could help one of the world’s top oil importing nations reduce reliance on overseas supply.
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”.
An official with the Filipino maritime regulator said last month that the Princess Empress did not have the right permits for operation.
Officials have recovered the body of the crew member and will return him to his family.
Shell has completed the sale of a pair of non-operated stakes in Malaysia’s Baram Delta, concluding a process initiated two years ago.
Buyout firm KKR & Co. has sold all its stake in Weststar Aviation Services, marking its full exit from the Malaysian helicopter services company after a decade.
Indian police are investigating after an engineer working at ONGC's Mumbai High platform reportedly fell overboard last week, amid allegations of foul play.
Indonesia has awarded a trio of exploration blocks to several consortia of oil and gas firms, in the first of a series awards expected this year.