There were more near field exploration targets planned for 2024. These, it said, would support further expansion at the project. Valeura has raised the possibility of a Nong Yao D platform to follow Nong Yao C.
“We're both highly motivated to get the asset back up and operating again. They have a vessel they put capital into. They obviously want to be getting paid and making a return on that,” he said.
The drilling could inform decisions on another 20 production wells. Expanding the Wassana facility would involve more wellhead and oil processing structures, it said.
Valeura launched an office in Singapore earlier this year, where executives will be based. Today, it also announced the replacement of KPMG Canada as auditor with Deloitte & Touche (Singapore).
Valeura is carrying out refurbishment work on the FPSO, worth $9mn. This is intended to ensure ongoing reliability and extend its class certification.
Support for doing deals has been buoyed as a result of the European gas supply crisis, the CEO said. “There's an appreciation that we're going to need hydrocarbons and I think the money markets are seeing that as well,” he said, even while “trying to get an RBL from a bank is not going to happen”.
Talk these days about energy trends nowadays tends to focus on the crisis that has caught Europe and the West by storm. We overlook Southeast Asia at our peril.
Officials have recovered the body of the crew member and will return him to his family.
Thailand ordered its navy to join efforts to rescue an oil storage vessel operated by a unit of Chevron that was damaged earlier this week during a routine maintenance in the Gulf of Thailand.
PTT signed an agreement with Electricity Generating Authority of Thailand (EGAT) in February 2022 on the new LNG terminal.
Chevron slammed by NGO's for selling its Myanmar assets to Canada's MTI Energy in a deal seen to benefit the military junta.
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Thailand’s state-backed energy company PTT Exploration and Production (PTTEP) expects to sell its Cash-Maple gas and condensate field in Australia in 2023, according to a report in the Bangkok Post.
Honeywell has been selected as the carbon capture technology provider for PTT Exploration & Production (PTTEP) at the Arthit carbon capture and storage (CCS) project for the Arthit gas field in the Gulf of Thailand.
Southeast Asia-focused Jadestone Energy has signed a deal with Indonesia’s Medco Energi Internasional to acquire stakes in the Sinphuhorm gas field and Dong Mun gas discovery onshore Thailand for $32.5 million.
ExxonMobil will sell its controlling stake in Esso (Thailand) Pcl, which runs a local refinery and retailing business, to rival Bangchak Corp. as the largest US oil company focuses on its home market and the production of lower-emission fuels.
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.
Mubadala Energy has agreed to sell three oilfields offshore Thailand to Valeura Energy. The Canadian company claims the acquisition will make it the largest independent operator of oil production in Thailand.
Japanese trading house Mitsui is seeking carbon storage sites across Asia Pacific as it aims to sequester 15 million tonnes per year by 2035 for companies in Japan.
Japan’s industry minister Yasutoshi Nishimura and Thailand’s energy minister Supattanapong Punmeechaow have signed a memorandum of understanding to share liquefied natural gas (LNG) in times of serious shortages to boost energy security.
Thailand’s PTT Exploration & Production (BKK:PTTEP) further expands its investment in the United Arab Emirates (UAE) by acquiring 25% participating interest in the Sharjah Onshore Area A from Italy’s Eni (MIL:ENI).
Studies suggest that many people in Asia see diversity, equality, and inclusion (DEI), as a Western concept, shaped by Western experiences and Western values, according to PwC.
Thailand this month launched its first carbon credit exchange, marking a major step toward the country’s goal to achieve carbon neutrality by 2050 and combat climate change.
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.
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.