Upstream merger and acquisitions (M&A) deals are expected to rebound in Asia Pacific this year after plunging to their lowest level this century in 2020, when the pandemic and collapse in oil and gas prices killed activity.
Beijing is expected to keep harassing oil and gas operations in disputed areas of the South China Sea this year, particularly offshore Malaysia.
Pharos Energy intends to farm out its Egyptian assets, with the company hiring Jefferies to handle the process.
A pair of oil and gas fields controlled by Japanese companies offshore Vietnam could become a potential flash point in the disputed waters of the South China Sea as Beijing continually seeks to aggressively assert its claims.
The UK proposes to help develop one of the world’s largest offshore wind projects in Vietnam, where the market is expected to boom.
Chevron is seeking contractors for a major retirement campaign across the Gulf of Thailand as the Southeast Asian nation braces for a huge wave of decommissioning.
Mubadala Petroleum has put its Southeast Asia portfolio up for sale for $2 billion. The Abu Dhabi-based company will be following in the footsteps of ExxonMobil, Chevron, Shell, Murphy Oil, Hess, Repsol and Eni, all of which are looking to sell assets in the Asia region.
Eni’s recent gas discovery offshore Vietnam puts further pressure on ExxonMobil to reduce the value of its Blue Whale project as the U.S. major hunts buyers for what could be the country’s largest-ever gas development.
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
Beijing has increased pressure on Hanoi thereby derailing yet another upstream project in the South China Sea.
Eni has confirmed the presence of a giant gas and condensate field in Block 114 in the Song Hong Basin off Vietnam.
Pharos Energy has put on hold all development work in Egypt, which will lead production to decline.
ExxonMobil is exploring opportunities to invest in LNG-to-power projects in Vietnam as the country faces chronic electricity shortages and Hanoi welcomes US companies to fix a trade imbalance.
BlackRock Inc. has challenged Korea Electric Power Corp. over plans to invest in new coal-fired power plants in Vietnam and Indonesia.
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
A four-month long standoff over oil and gas operations in the South China Sea is intensifying between Malaysian, Chinese, and Vietnamese ships, though all three governments have managed to keep it out of the public eye, until very recently.
Pharos Energy has set out plans to spend around $45 million in 2020 but has suspended production guidance from Egypt in response to the oil price pressures.
Pharos Energy’s Egyptian assets have increased production slower than expected but should overtake the company’s Vietnamese volumes this year.
Decommissioning Southeast Asia’s aging oilfields offers a vast but challenging market opportunity.
Construction has begun at the Thi Vai regasification terminal in Vietnam.
The Australian developer of a US-based liquefaction project is working on plans to supply an LNG-to-power project in Vietnam.
McDermott International has inked a deal to provide transport and installation services for two gas and condensate field developments off Vietnam.
Modern Energy Management (MEM) has won the project management services for development of the intertidal Tra Vinh windfarm.
Renewable development consultant, Modern Energy Management (MEM), has been tapped by investors to facilitate wind and solar projects in Myanmar, Vietnam, Indonesia and the Philippines.
The German government has accused Vietnamese intelligence services of involvement in what it called the kidnapping in Berlin of a former Vietnamese oil executive.