Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
Asia
Asia Oil and Gas news and updates
Castorone off Scarborough work for at least a month
Saipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Saipem’s Castorone chalks up second accident in a month
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
All Asia Posts
Harbour Energy to start drilling for more Indonesia oil and gas in September
Harbour Energy plans to start more frontier oil and gas exploration drilling offshore Indonesia’s Aceh province in September of this year, according to local reports.
Inpex targets ramping up LNG output in tight market
Inpex, Japan's biggest oil and natural gas explorer, plans to accelerate its expansion of production and sales of liquefied natural gas (LNG) as it expects the LNG market will remain tight in the mid-term.
Low-carbon investments to rise by $60bn in 2023 as hydrogen and CCUS spending surges
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
$16bn of oil and gas investment expected in Asia-Pacific in 2023
There's a $16bn project pipeline predicted for 2023 in Asia-Pac, but nearly a third are at high-risk of delay.
ExxonMobil to sell Thai refinery and retail unit to Bangchak
ExxonMobil will sell its controlling stake in Esso (Thailand) Pcl, which runs a local refinery and retailing business, to rival Bangchak Corp. as the largest US oil company focuses on its home market and the production of lower-emission fuels.
Philippine Supreme Court revokes South China Sea oil and gas exploration deal
Philippine oil and gas drillers tumbled Wednesday after the top court voided the nation’s 2005 deal with China and Vietnam to jointly explore for oil and gas in the South China Sea, less than a week after President Ferdinand Marcos Jr. agreed to revive similar talks with Beijing.
Cnooc lifts spending to raise energy supply as China reopens
China National Offshore Oil Corp. pledged higher spending this year as Beijing looks to raise production to safeguard energy security and fuel a rebound in economic growth.
The $21bn Sun Cable project to power Singapore enters administration
One of Australia’s most ambitious renewable energy projects has entered into voluntary administration after shareholders couldn’t come to a consensus on the future direction and funding of the plan to power Singapore using a 4,200-kilometer (2,600-mile) submarine cable.
Japan’s Inpex expands Indonesia geothermal footprint
Japan’s Inpex has announced that it has joined the Rajabasa geothermal project in Indonesia’s Lampung province in the southeast area of Sumatra island.
Baker Hughes wins work for Petronas’s giant Kasawari CCS
Baker Hughes will supply carbon dioxide (CO2) compression equipment to Petronas Carigali’s Kasawari offshore carbon capture and storage (CCS) project in Sarawak, Malaysia, after winning a deal with Malaysia Marine and Heavy Engineering (MMHE).
Singapore company starts oil drilling in Myanmar
Singapore-listed Interra Resources reported that its joint venture entity, Goldpetrol Joint Operating Company, has started drilling development well CHK 1238 in the Chauk oil field onshore Myanmar.
Petronas awards EPCC prize for FLNG power plant
Malaysia’s Petronas has awarded local engineering company Kejuruteraan Asastera Berhad (KAB) a MYR230 million (US$52.6 million) engineering, procurement, construction, and commissioning (EPCC) contract for a 52MW power plant for an upcoming floating liquefied natural gas (FLNG) project.
Harbour Energy gets approval for $3.3bn Tuna oil and gas project in Indonesia
The Indonesian government has approved a plan of development for Harbour Energy’s (LON:HBR) Tuna oil and gas project that includes $3.315 billion worth of cost recovery. Significantly, Indonesia sees the development as a way to assert its sovereign rights in a maritime area also claimed by China.
Chinese firm CNPC signs deal with Taliban to produce oil in Afghanistan
The Taliban-led administration in Afghanistan signed its first international contract last Thursday to extract oil from the northern Amu Darya basin as the beleaguered group seeks to increase revenue.
JGC celebrates third Petronas nearshore FLNG win
JGC will oversee work on the FLNG topsides, onshore facilities and management of the overall project. SHI will handle hull work and modular fabrication of the topside.
Tokyo Gas nears $4.6 bllion deal to buy US shale driller Rockcliff
A Tokyo Gas Co. unit is in advanced talks to buy US natural gas producer Rockcliff Energy in a deal worth about $4.6 billion, including debt, a person with knowledge of the matter said.
Borr adds two more contracts, nears 100% utilisation
Borr Drilling has signed contracts for two of its jack-up rigs, in the Middle East and Southeast Asia.
Transocean takes eight-gen Titan for Chevron work
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
Japan taps Oman, US for LNG supplies
Japanese companies have struck a number of LNG deals, as the government pushes to lock in future energy supplies.
BP looks to further developments at Tangguh LNG with PSC extension
The government of Indonesia has granted a 20-year extension of the Tangguh production sharing contract (Tangguh PSC) to BP (LON:BP), operator of the PSC, and its Tangguh PSC partners at the LNG export development.
Petronas awards FLNG deal to JGC and Samsung Heavy Industries
Japan’s JGC and South Korea’s Samsung Heavy Industries will build Petronas’ third floating liquefied natural gas (FLNG) project after winning the engineering, procurement, construction and commissioning (EPCC) contract.
Malaysia doubles exploration success in 2022 with 10 discoveries
Petronas and its Petroleum Arrangement Contractors (PACs) recorded a total of 10 hydrocarbon discoveries in Malaysia in 2022, following the increase of exploration activities in the country.
Myanmar energy ties are flying under the ESG radar
Posco International is one of the last foreign companies with a significant stake in Myanmar’s oil and gas sector, despite the industry’s ties to a military regime that has been widely condemned for violations of human rights.
Criterium makes Southeast Asia upstream debut with $1.6m Indonesia acquisition
Canada’s Criterium Energy has acquired a 42.5% interest in the Bulu production sharing contract (PSC) holding the Lengo gas field offshore Indonesia for $1.6 million. Significantly, the company is seeking more complimentary assets in Southeast Asia.
Surprise BOJ move will help ease Japan’s mounting energy crisis
The Bank of Japan’s latest policy shock will provide some relief to the nation’s energy crisis, helping to cut the cost to procure fuel from overseas.