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
China’s LNG imports to see unprecedented decline in 2022
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it started importing LNG, reported Wood Mackenzie.
Bechtel starts construction on Taiwan’s largest LNG storage tanks
US engineering company Bechtel has started construction on a third phase development at CPC’s Taichung LNG import terminal, aimed at delivering two new LNG storage tanks each with 180,000 m3 storage capacity, which will make them the largest in Taiwan.
Japan aims to keep stakes in Russia’s Sakhalin-2 LNG
Japan plans to maintain its stakes in the Sakhalin-2 natural gas project in Russia’s far east, the Nikkei Asia reported, after President Vladimir Putin signed a decree transferring rights to a new Russian company just over two weeks ago.
Aberdeen’s Vulcan clinches supply deal with Shell Brunei
Completions specialist Vulcan has continued its expansion into the Asia-Pacific market, having secured a new contract that will see it deploy equipment to Brunei for the first time.
China’s Cnooc doubles first half profit to $10bn on surge in oil prices
China’s biggest offshore oil driller said it more than doubled first half profits from a year ago amid a surge in oil and gas prices.
Small-scale floating LNG power solutions set for Papua New Guinea
Twenty20 Energy will roll out its proprietary power island floating storage regasification and power solution at 12 locations across Papua New Guinea (PNG) on behalf of PAWA PNG. The solution will serve as a model for future nearshore power generation plants in coastal regions worldwide, reckons the Singapore-based firm.
Diver dies offshore Malaysia at Petronas FPSO
A commercial diver has died while performing an adapter mating test on the hull of a floating production storage and offloading (FPSO) vessel offshore Malaysia, according to a HSE report from national oil company Petronas.
Samsung wins $680m engineering deal for Shell gas plant in Malaysia
South Korea’s Samsung Engineering has won a $680 million engineering, procurement, construction and project management contract to build an onshore gas plant for Shell’s Rosmari Marjoram development in Sarawak, Malaysia.
TotalEnergies signs exploration deal covering large gas prospect offshore PNG
TotalEnergies’ (LON:TTE) is planning to explore a large undrilled shallow-water gas prospect in the Cape Vogel basin offshore Papua New Guinea (PNG) after signing a technical cooperation agreement with Australia’s Lakes Blue Energy.
Initial success for Harbour Energy at play-opening deepwater exploration well in Indonesia
UK-listed Harbour Energy (LON:HBR) has announced initial success at its play-opening deepwater Timpan-1 exploration well offshore Indonesia in the North Sumatra basin. Significantly, the initial result bodes well for the frontier area and could open up more petroleum plays, which are thought to be gas prone.
Worley wins FEED contract for Santos CCS project offshore East Timor
Australian-listed engineering company Worley (ASX:WOR) will provide front-end engineering and design (FEED) services for the Santos-led proposed giant carbon capture and storage (CCS) project offshore East Timor.
Shell stops Prelude LNG cargoes until July 21 on strike action
Shell (LON:SHEL) has told its customers that it will be unable to deliver liquefied natural gas (LNG) shipments from its Prelude floating LNG (FLNG) facility off north-western Australia due to industrial action over pay, which has been extended to July 21.
Petronas subsidiaries seized as lawyers push $15bn case on Malaysia
Two Luxembourg subsidiaries of Malaysian state oil company Petronas have been seized by the descendants of a late sultan, lawyers said, in a dramatic escalation of a $15 billion legal dispute connected to an agreement signed 144 years ago, reported the Financial Times.
Shell signs up to 20 year deal with Mexican LNG project
Shell has signed a deal with Mexico Pacific to take 2.6 million tonnes per year of LNG from the first two trains of the project, which will be in Mexico’s state of Sonora.
Gasunie hands out Brunsbüttel contracts, aims for LNG deliveries this year
Germany is pressing ahead with its plans to begin imports of LNG, with an award going to Friedrich Vorwerk for a pipeline connection to the Brunsbüttel terminal.
China and India funnel $24 billion to Putin in energy spree
Russia has pocketed $24 billion from selling energy to China and India in just three months following its invasion of Ukraine, showing how higher global prices are limiting efforts by the US and Europe to punish President Vladimir Putin.
Australia’s plunge into energy crisis offers stark reminder for other governments
Eastern Australia is experiencing a severe power crisis, which is largely the result of poor government planning, and serves as a reminder to other nations of the dire consequences that stem from failing to develop a pragmatic energy policy.
26 missing after offshore wind ship sinks off Hong Kong
Rescuers are searching for 26 crew members after an offshore wind installation ship split in two and sank off Hong Kong.
Scotland’s CessCon Decom forges new Southeast Asia unit in Brunei
Scottish firm CessCon Decom has announced the creation of a new joint venture company, Anson International, based in Brunei, as it looks to capitalise on a wave of work across the region.
Woodside’s Sunrise still a long shot in East Timor, plate tectonics in focus
Development of the 5.1 trillion cubic feet Greater Sunrise gas and condensate field is back on the agenda for Woodside Energy (ASX:WDS), but the odds of progress look as difficult as ever, reported EnergyQuest. Significantly, all stakeholders in Sunrise should be talking about plate tectonics rather than economics, suggested the consultancy in its latest report.
Sembmarine delivers world’s first eighth-generation drillship to Transocean
Sembcorp Marine has successfully delivered the “world’s first eighth-generation drillship”, the Deepwater Atlas, for Transocean’s subsidiary Triton Atlas, the Singapore yard reported.
Russia muscles in on Indian oil market at expense of OPEC titans
Watch out Iraq and Saudi Arabia, Russia is making huge inroads into the Indian oil market and has quite possibly become the largest supplier to the giant Asian buyer.
Thailand needs ‘shale’ gas moment as energy crisis deepens on PTTEP’s watch
Thailand’s upstream natural gas sector is struggling to reverse falling output due to bad planning and policy from the government, coupled with a seeming lack of innovation at PTT Exploration & Production (BKK:PTTEP), a state-backed company, that is taking increasing control of the country’s gas resources.
PetroChina may sell Australian, Canadian assets to stem losses
PetroChina may exit natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa, and central Asia, reported Reuters, citing people with knowledge of the matter.
Jadestone Energy gets new finance chief from SBM Offshore
Asia Pacific-focused oil and gas company Jadestone Energy has appointed Bert-Jaap Dijkstra as chief financial officer and director of the London-listed company from 1 September 2022.