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
Santos’ Barossa could face two year delay leaving Darwin LNG empty
The development of the Santos-led (ASX:STO) Barossa gas project offshore Australia that will backfill the Darwin liquefied natural gas (LNG) export plant could be delayed by up to two years after a Federal Court ordered the operator to stop drilling at the US$3.6 billion project on 21 September.
Indonesia lagging Malaysia as CCS starts to grip Southeast Asia
Malaysia and Indonesia were the first countries in Southeast Asia to announce that carbon capture and storage (CCS) would play a role in decarbonising their industrial sectors. BP (LON:BP) in Indonesia, and Petronas in Malaysia, announced landmark projects in the oil and gas industry. However, while Indonesia has started having the right conversations around CCS, neighbouring Malaysia, and possibly even Thailand, appear to be making more progress within the region.
Smoke and mirrors in Indonesia as giant gas projects struggle
Indonesia has an ambitious target to almost double natural gas production from 6.5 billion cubic feet per day (cf/d) to 12 billion cf/d by 2030. Hitting that goal means giant undeveloped gas projects, such as Inpex’s Masela and Chevron’s IDD, must proceed rapidly.
As demand surges Indonesia needs radical action and $200bn investment to revive upstream oil and gas
Unlike most governments in the economically developed Western world, Indonesia’s leaders are crying out for more upstream oil and gas investment. However, even as demand is projected to rise up to four times by 2050, Southeast Asia’s biggest economy is struggling to convince energy investors to come.
Harbour aims to expand Natuna Sea A Block as Singapore gas demand surges
UK-based Harbour Energy (LON:HBR) is aiming to develop more fields in its Natuna Sea A Block, that is a major gas supplier to Singapore. Harbour is seeing demand surge from the city state for piped supplies from its Indonesia block as global liquefied natural gas (LNG) spot prices remain elevated.
Harbour close to Vietnam sales deal for Tuna gas from Indonesia
UK-based Harbour Energy (LON:HBR) is close to finalising a supply deal with Vietnam for natural gas from its proposed Tuna gas development in the Natuna Sea offshore Indonesia.
Petronas, Mubadala and Shell strike gas offshore Malaysia
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.
Typhoon tears BP FPSO from Chinese dock
A typhoon has ripped a BP FPSO away from its moorings at a Chinese yard, throwing up another challenge to plans for LNG production off Senegal and Mauritania.
Chevron to assess exploration potential in India with ONGC
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.
Ranhill Worley wins FEED deal for PTTEP’s Malaysia offshore project
Ranhill Worley will provide front-end engineering and design (FEED) services for PTT Exploration & Production’s (PTTEP’s) Lang Lebah development offshore Malaysia in a deal worth MYR43 million (US$9.4 million).
IEA sees biggest China oil demand drop in over three decades
China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said.
Indonesia-focused Conrad set for Australia IPO
Indonesia-focused oil and gas company Conrad Asia Energy is preparing an initial public offering (IPO) on the Australia Stock Exchange to raise some A$45 million (US$30.3 million) as it seeks to develop its Indonesia upstream business.
Medco interested in acquiring stake in Inpex-led Masela as Shell seeks divestment
Indonesia’s Medco Energi (IDX:MEDC) is open to the possibility of joining the Indonesian government consortium that is considering acquiring Shell's (LON:SHEL) 35% share in the Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605).
Indonesia’s Pertamina agrees rig-to-reef pilot with South Korea’s KHAN
Indonesia’s national oil company Pertamina has signed an agreement on a joint rig-to-reef pilot project with South Korea’s KHAN covering the Attaka offshore blocks in East Kalimantan, Indonesia.
India plans $2.5bn aid to oil firms hit by soaring costs
India plans to pay about 200 billion rupees ($2.5 billion) to the state-run fuel retailers, such as Indian Oil, to partly compensate them for losses and keep a check on cooking gas prices, according to people familiar with the matter.
First Gen to finish Philippines LNG import project early 2023
First Gen has reported that its delayed liquified natural gas (LNG) import project in the Philippines will finish construction by the end of Q1 2023.
Indonesia may form consortium to buy Shell’s stake in Masela LNG project
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.
Mitsui and Shell to explore CCS in Asia Pacific
Mitsui and Shell (LON:SHEL) have signed a joint agreement to explore the technical and commercial feasibility of carbon capture and storage (CCS) in Asia Pacific, including Japan.
Shipping column: Greener OSVs, Diamonds and Northern Lights
Oil-related supply boats have largely been pushed to the back of the new offshore support vessels orders book as global energy priorities change, driven by climate change.
China snaps up half-price Russian LNG as Europe shuns supplies
China is lapping up liquefied natural gas (LNG) shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with knowledge of the matter.
Harbour Energy-led Andaman project in Indonesia to pump first gas in 2028
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 Petronas eyes more acreage offshore Indonesia’s Aceh in exploration hotspot
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.
Australia moves to allay Japan’s fear it will cut gas supply
Australia says it’s doing what it can to ensure supplies of liquefied natural gas (LNG) to Asian customers will remain reliable, in response to concerns producers could be forced to redirect to relieve domestic shortfalls.
Gazprom to shift gas sales to China to rubles, yuan from euro
Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions.
Recognising shift to gas, Mubadala Petroleum rebrands
Mubadala Petroleum has changed its name to Mubadala Energy, reflecting the company’s energy transition commitments and its gas-weighted portfolio.