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
Delays at giant projects dent Vietnam’s ambitions to expand gas sector
Multi-billion-dollar oil and gas projects remain delayed in Vietnam and undermine the Southeast Asian nation’s ambitions to expand its gas production capabilities as it seeks to move away from coal-fired power.
Hydrogen projects in Australia are struggling to lure investors
Australia has only one committed hydrogen project out of a vast pipeline of proposals worth A$266 billion ($178 billion), showing the challenge in becoming a major exporter of the zero-carbon but still unproven fuel.
Unprecedented price caps pit Australia’s leader against big gas
Hastily assembled legal teams. Accusations of Soviet-era policy. Counter jabs about “Putin profits.” Warnings of a threat to future investment.
Chinese oil demand faces bumpy road to recovery as Covid curbs ease
Oil demand in China is expected to pick up as the world’s largest crude importer pivots away from its strict Covid Zero policy, although analysts caution that it may take time for gains to kick in.
Vietnam seals $15.5 billion deal with rich nations to exit coal
Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal.
BP invests $13.6m in Australia solar company
BP ventures has made a A$20 million (US$13.6 million) investment in 5B Holdings, an Australia-based renewable energy company, which BP said has technology to enable the rapid deployment of solar power at scale.
Harbour Energy and Mubadala plan more exciting deepwater exploration in Indonesia
UK-based Harbour Energy (LON:HBR) and UAE-based Mubadala Energy are both planning separate exciting deepwater drilling campaigns in frontier waters offshore Indonesia’s Aceh province next year.
Repsol and Petronas’ Andaman deepwater probe disappoints in Indonesia
Repsol’s (BME:REP) much-anticipated Rencong-1X wildcat exploration well in the frontier deep-waters of Indonesia’s North Sumatra basin has failed to find commercial oil and gas reserves.
TotalEnergies’ Papua LNG to use electric liquefaction trains in net zero push
TotalEnergies (LON:TTE), operator of the Papua LNG project, plans to use electric liquefaction trains at its proposed LNG export development in Papua New Guinea (PNG), as part of an effort to slash emissions, which also includes CCS.
Japan urges Australia to act with caution on gas market policy
Japan has urged Australia to consider its trading partners after gas producers warned they would halt investment if long-term price caps proposed by the government were introduced.
Pertamina and Mitsui talk more about CCUS opportunities in Indonesia
Indonesia’s state-backed energy company Pertamina aims to work with Japan’s Mitsui to undertake a joint study for carbon capture utilisation and storage (CCUS) technology at the firm’s upstream assets in central Sumatra.
Shell to sell its share in Malaysia’s Baram Delta for $475m
Shell (LON:SHEL) said Tuesday that it has agreed to sell its stake in two offshore production sharing contracts (PSCs) in Malaysia’s Baram Delta to Petroleum Sarawak Exploration & Production (PSEP).
Gas producers in Australia slam Labor’s near nationalisation of market
Australia’s Labor government is planning to seize control of domestic gas prices when it introduces extraordinary new legislation to parliament on Thursday in what has been likened to a near nationalisation of gas markets.
Crumbling nuclear plant may fuel Philippines after 36-year delay
A nuclear power plant on the Philippines’ western coast has sat idle for nearly four decades, costing billions of dollars and never producing a watt of electricity. Now, it’s at the center of a debate over whether the nation should finally adopt atomic energy.
More CCS for Malaysia as Petronas and JX Nippon team up
Petronas Carigali has entered into a heads of agreement with JX Nippon Oil & Gas Exploration Corporation (JX Nippon) to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh (BIGST) fields, located offshore Kerteh, Terengganu, Malaysia.
TotalEnergies to add CCS to Papua LNG project
TotalEnergies (LON:TTE) plans to add a carbon capture and storage (CCS) dimension to its proposed 5.4 million tonnes per year (t/y) Papua LNG project in the Pacific Island nation of Papua New Guinea (PNG).
Eni denies that it has replaced Chevron as operator of IDD project
Eni (MIL:ENI) has denied reports in Indonesia last week, citing a senior government official, suggesting that the Italian company had become the new operator of the Indonesia Deepwater Development (IDD) project, replacing Chevron.
Thai upstream player PTTEP to spend $29bn over five years
Thailand’s state-backed upstream company PTT Exploration Production (PTTEP) announced it will spend $29 billion between 2023 and 2027 as it aims to boost oil and gas production, as well as diversify into new businesses to cut emissions.
East Timor President finds no progress with Australia on gas project
East Timor’s President Jose Ramos-Horta said that Australia has shown no signs moving forward with a long-stalled gas pipeline project that runs through the Southeast Asian country, leaving around $100 billion in potential revenue untapped.
Indonesia seeks investors for giant geothermal energy resources
Indonesia, home to the world’s largest geothermal energy potential, is opening tenders seeking investors to develop this giant resource, as it aims to expand the use of renewable energy to meet its net zero goals.
China, Saudi sign deals as Xi gets warm welcome in Riyadh
China and Saudi Arabia signed a number of agreements, including on energy and investments, after their leaders met in Riyadh on Thursday at a summit that showcased deep and growing ties beyond oil.
Exxon aims for low-cost growth in five-year plan
ExxonMobil has set out plans to focus on high return, low cost projects in the Permian Basin, Guyana, Brazil and LNG internationally.
Saudi Arabia and China team up on energy and climate
The King Abdullah Petroleum Studies and Research Center (KAPSARC), a leading Riyadh-based advisory think tank, has signed a memorandum of understanding (MoU) with the Economics & Technology Research Institute (ETRI), a research institute affiliated with the China National Petroleum Corporation (CNPC), to foster cross-regional cooperation in energy research.
Pertamina starts negotiations with Shell to buy Masela stake in Indonesia
Indonesia’s state-backed energy company Pertamina has started official negotiations with Shell (LON:SHEL) to acquire the Anglo-Dutch supermajor’s 35% share of the undeveloped Abadi LNG project in the Masela Block offshore Indonesia.
KUFPEC seeks contractor for Anambas pre-FEED in Indonesia
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has recently issued a pre-qualification tender announcement for the provision of conceptual and pre-FEED engineering studies for the development of its Anambas offshore block in Indonesia.