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
CNOOC starts work on world’s largest LNG storage tanks
Chinese oil and gas giant CNOOC is set to install the world’s largest storage tanks at the Binhai LNG import terminal in Jiangsu by the end of 2023, reported Reuters.
ExxonMobil seals crucial deal for LNG backfill project in PNG
ExxonMobil (NYSE:XOM), which operates the PNG LNG export complex in Papua New Guinea (PNG), has sealed a gas agreement with the PNG government that provides a clear framework for development of the P’nyang field to backfill existing liquefied natural gas (LNG) infrastructure. However, major development activities are unlikely to start before 2027.
Valaris warns costly rig reactivations await after 2021 results
Offshore driller Valaris (NYSE: VAL) said its “transitional period” post-Chapter 11 bankruptcy will continue into the second quarter of this year as it deals with costly rig reactivations.
Petronas and Mitsubishi to exit Myanmar
Malaysia’s Petronas and Japan’s Mitsubishi Corporation are divesting their shares in the Yetagun gas field offshore Myanmar. The move marks the latest in a series of exits by major energy companies, including Chevron and TotalEnergies, following the military coup in February 2021.
Aker Solutions manager charged again in Malaysia
Malaysia has filed a fresh charge against a local manager of Norwegian oil services provider Aker Solutions, accusing him of providing false information to the country's corporate regulator, according to the company and a court document, reported Reuters.
Soaring gasoline bad timing for Asian governments facing voters
Soaring gasoline prices are fanning inflation and causing a headache for governments and central banks worldwide. In countries with elections coming up, they’re an extra headwind for the incumbents.
CNOOC’s $13bn oil, gas deals show China’s supply fears
China National Offshore Oil Corporation (CNOOC) struck $13 billion worth of deals to boost oil and gas supply, as the country aims to avoid a repeat of last year’s energy crunch.
ConocoPhillips closes $1.6bn deal to boost share in APLNG
ConocoPhillips (NYSE:COP) has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion.
Fire onboard Aquadrill drillship in Sri Lanka
The Polaris drillship, owned by Aquadrill Offshore, has caught fire while docked at a port in Sri Lanka, reported local officials.
Hibiscus eyes more growth opportunities in North Sea and Southeast Asia
Hibiscus Petroleum (KLSE:HIBISCS) said it continues to assess future growth opportunities in the North Sea and Southeast Asia as the Malaysian-listed company strives to double its production by 2026.
Critics say Santos’ Barossa LNG should be halted until CCS scheme proven
The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.
East Timor NGO hits out at Santos’ carbon storage plans for Barossa LNG
East Timor-based independent think-tank La'o Hamutuk has hit out at Santos’ plans to store carbon from its proposed Barossa liquefied natural gas (LNG) development at the Bayu Undan field in the Timor Sea by filing a submission to the Northern Territory (NT) Environmental Protection Authority (NTEPA).
BW Offshore takes $67m FPSO impairment
Floating production storage and offload (FPSO) vessel operator BW Offshore will take a $66.6 million impairment on the value of several of its vessels, amid a poor outlook for future redeployments.
Inpex seeks Southeast Asia M&A and CCS opportunities
Inpex, Japan’s largest upstream explorer and producer, is seeking opportunities to acquire more natural gas resources in Vietnam, Malaysia, as well as other countries in Southeast Asia.
Inpex delays planned Abadi LNG start to 2030s
Japan’s Inpex (TYO:1605) has confirmed that it will not take a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia until the second half of the 2020s with the aim of starting production in the early 2030s. However, questions remain around the commercial viability of the project and this also marks the latest in a series of delays for Abadi.
KUFPEC strikes it lucky offshore Indonesia
Kuwait Foreign Petroleum Exploration Company’s (KUFPEC’s) recent exploration discovery at its Anambas-2X well in the Anambas Block offshore Indonesia has posted even better flow rates than initially announced.
Petronas plans clean energy business unit in global shuffle
Malaysia’s national oil company Petronas is setting up a business unit focusing on clean energy solutions as part of a global operational shuffle.
Thailand seeks control of Myanmar gas project after TotalEnergies and Chevron exit
PTT, Thailand’s state-controlled energy company, is bidding to take control of Myanmar’s Yadana gas field after TotalEnergies (LSE:TTE) and Chevron (NYSE:CVX) announced they will exit the country to protest against the junta’s continued violence against civilians since the military coup.
Chevron’s giant Gorgon CCS facility operated at half-capacity in first full year
Chevron’s (NYSE:CVX) flagship carbon capture and storage (CCS) scheme, designed to catch emissions at the Gorgon liquefied natural gas (LNG) project offshore Australia, has operated at just over half its expected capacity in the previous financial year, according to the latest project update.
Singapore’s Keppel O&M bags $186 million worth of contracts
Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard), has been awarded contracts worth around S$250 million ($186 million) for the conversion of a Floating Storage and Regasification Unit (FSRU), integration of a Floating Production Storage and Offloading (FPSO) vessel, and the enlargement of two Trailing Suction Hopper Dredgers (TSHD).
Inpex set to build giant carbon capture hub in Australia
Japan’s Inpex (TYO:1605) has confirmed it aims to lead an effort to build one of the world’s largest carbon capture and storage (CCS) facilities near Darwin, Australia, as it strives to hit its Net Zero 2050 pledge and decarbonise its business.
ADC Energy lands £1.5m contract, paving way for further growth in Asia-Pacific
Aberdeen-headquartered ADC Energy has been awarded a third contract in Asia-Pacific (APAC) in the first quarter of this year.
BW sends Brazilian FPSO to Indian yard for scrap
BW Offshore has signed a deal to recycle its BW Cidade de São Vicente at a yard in India, in compliance with the Hong Kong International Convention.
Opportunities abound as Asia Pacific set for $4 billion subsea spend in 2022
Subsea opportunities will be plentiful in Asia Pacific over the coming years as international oil companies (IOCs) and national oil companies (NOCs) advance a backlog of projects, while offshore wind developers accelerate activity across the region.
Petronas teams up with Mitsui O.S.K. Lines for liquified CO2 shipping
Petronas and global shipping company Mitsui O.S.K. Lines (MOL) will jointly explore opportunities in liquefied carbon dioxide (CO2) transportation for the carbon capture, utilisation and storage (CCUS) value chain in Asia Pacific.