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
India’s ONGC and Equinor team up for clean energy, E&P
India’s Oil and Natural Gas Corporation Limited (ONGC) and Norway’s Equinor will collaborate in the areas of upstream exploration and production (E&P), midstream, downstream, and clean energy options, including carbon capture utilisation and storage (CCUS) in India, after the pair signed a memorandum of understanding (MoU).
Petronas and PTTEP exit Myanmar’s Yetagun project
Malaysia’s Petronas and Thailand’s PTT Exploration & Production (PTTEP) have announced they will exit the Yetagun gas project offshore Myanmar as they rationalise their upstream portfolios. Neither company denounced the military-led coup in their exit statements.
Mitsui & Co. profit hits record, to stay involved in Russian gas
Japanese trading giant Mitsui & Co. nearly tripled its full-year profit to an all-time high on soaring energy and commodity prices, and said the company will keep its involvement in liquefied natural gas projects in Russia.
BP confirms Tangguh LNG restart in Indonesia
BP (LON:BP) has restarted its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following a shutdown due to mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
Valeura Energy buys Thai oil assets from bankrupt KrisEnergy
Canada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy.
CNOOC denies plans for $3 billion UK North Sea exit
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
BW Offshore denies Indian yard fatality related to scrapping of FPSO
A worker reportedly lost his life while scrapping an FPSO unit, formerly owned by Oslo-listed BW Offshore (OL:BWO), at an Indian beaching yard on 21 April, according to a report from an NGO. However, BW Offshore denied the report, and said Wednesday that the incident “was unrelated to the ongoing recycling of former BW Offshore FPSOs at the yard.”
Keppel, Sembcorp Marine complete merger deal to create world’s biggest oil rig builder
Sembcorp Marine has agreed to merge with Keppel Offshore & Marine in a deal that will create the world’s biggest builder of oil rigs and push the business further into renewables and alternative energy solutions. The pair are forming what could be one of the world’s largest offshore energy players worth $6.3 billion.
Woodside eyes Browse and East Timor’s Sunrise gas as war in Europe tightens energy markets
Liquefied natural gas (LNG) developer Woodside (ASX:WPL) is considering new investment opportunities, including the Browse and Greater Sunrise fields, on expectations that new supply will be needed to alleviate global energy market tightness.
East Timor’s upstream licensing round disappoints
Only five blocks out of 18 blocks offered in East Timor’s second licensing round have been awarded. East Timor’s National Petroleum and Minerals Authority (ANPM) said that it has awarded three onshore blocks and two offshore blocks.
PTTEP officially takes reins at Erawan and Bongkot offshore Thailand
Thailand’s PTT Exploration & Production (PTTEP) is now the official operator of the G1/61 project, which covers the Erawan, Platong, Satun and Funan fields, as well as the G2/61 project, covering the Bongkot field. PTTEP (BKK:PTTEP) said it is ready to boost natural gas production to increase energy security despite being denied prior access to Erawan due to an unresolved dispute with the former operator.
EU sanctions may stall work on Russian LNG project, Technip says
Technip Energies may have to considerably slow construction for Novatek PJSC’s Arctic LNG 2 project because of the latest European Union sanctions against Russia for invading Ukraine.
Petronas awards upstream acreage to SK offshore Malaysia
Petronas has awarded Block SK427 off the coast of Sarawak to SK earthon, a subsidiary of South Korea’s SK Innovation, and Petroleum Sarawak Exploration & Production (PSEP) in an area where several discoveries were made last year. Petronas and SK will also collaborate on carbon capture and storage (CCS) opportunities.
Petronas signs key MoU for $2bn floating LNG project in Sabah
Petronas and Sabah Oil & Gas Development Corporation (SOGDC) have signed a key memorandum of understanding (MoU) that will see the Malaysian national energy company build Sabah’s first and largest near-shore floating liquefied natural gas (LNG) facility estimated to cost MYR8.8 billion ($2.02 billion).
China’s interest in Shell’s Russian gas stake adds impetus for Japan to stay
China’s interest in acquiring an abandoned stake in a Russian liquefied natural gas (LNG) export project is providing further justification for Japan to continue its joint venture with Gazprom PJSC.
Singapore yard merger propels Keppel’s stock with deadline days away
The deadline for a transformative yard merger deal in Singapore between Keppel Corporation and Sembcorp Marine is just days away.
China oil giant Cnooc jumps as much as 44% in mainland debut
Cnooc Ltd jumped as much as 44% in its first day of trading in Shanghai as mainland investors leaped at the chance for exposure to soaring oil and gas prices.
China energy giants in talks for Shell’s Russian gas stake
China’s key state-run energy companies are in talks with Shell to buy its stake in a major Russian gas export project, according to people with knowledge of the matter.
Maersk Drilling sells Convincer rig to ADES in $42.5m deal
Maersk Drilling has reached a deal to sell its Maersk Convincer oil rig to Middle East and Africa-focused driller ADES for $42.5 million.
BP confirms shutdown of Tangguh LNG Train 2
BP (LON:BP) has temporarily shut down operations at its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
Asia’s largest jacket successfully installed in South China Sea
Asia's largest offshore jacket Haiji-1 was last week installed in the South China Sea by Chinese offshore engineering and construction company COEEC.
Oil fluctuates as traders assess China’s vow, unrest in Libya
Oil fluctuated as China vowed to repair the economic damage caused by a spate of lockdowns, and crude supplies from Libya were disrupted.
Singapore yard Keppel terminates contracts, keeps rigs
Singapore yard Keppel Offshore & Marine (Keppel O&M) is terminating jack-up rig construction contracts signed with an affiliate of Clearwater Capital Partners, and Fecon International, in October 2013 and February 2014, respectively. Significantly, the yard will keep the drilling units and is exploring the sale and charter of the rigs.
JGC wins Taiwan LNG terminal construction deal
A consortium led by Japan’s JGC has won a construction deal for LNG terminal facilities in Taiwan from state-backed CPC. Significantly, JGC is hoping to win follow-up work in Taiwan as the country expands its LNG infrastructure.
Ichthys legal spat settled says KBR
KBR said it expects to receive a total of $271 million under a tentative settlement with a consortium that included GE and Australian construction giant CIMIC Group in a contract dispute over work at the Inpex-operated Ichthys project in Australia.