Indonesia has an ambitious target to almost double natural gas production from 6.5 billion cubic feet per day (cf/d) to 12 billion cf/d by 2030. Hitting that goal means giant undeveloped gas projects, such as Inpex’s Masela and Chevron’s IDD, must proceed rapidly.
Unlike most governments in the economically developed Western world, Indonesia’s leaders are crying out for more upstream oil and gas investment. However, even as demand is projected to rise up to four times by 2050, Southeast Asia’s biggest economy is struggling to convince energy investors to come.
Santos has been ordered to stop drilling at its $3.6 billion Barossa gas project off northern Australia by a Federal Court following a successful challenge from an indigenous group against environmental approvals for drilling and completion activities.
UK-based Harbour Energy (LON:HBR) is aiming to develop more fields in its Natuna Sea A Block, that is a major gas supplier to Singapore. Harbour is seeing demand surge from the city state for piped supplies from its Indonesia block as global liquefied natural gas (LNG) spot prices remain elevated.
UK-based Harbour Energy (LON:HBR) is close to finalising a supply deal with Vietnam for natural gas from its proposed Tuna gas development in the Natuna Sea offshore Indonesia.
Petronas today announced a gas discovery from its Cengkih-1 exploration well in Block SK 320 in the Central Luconia Province, about 220 kilometres off the coast of Bintulu, Sarawak, offshore Malaysia.
Chevron (NYSE:CVX) confirmed that its wholly owned subsidiary, Chevron New Ventures, has entered into a memorandum of understanding (MOU) with India’s Oil and Natural Gas Corporation (ONGC) to assess the exploration potential across a number of basins in India, the company told Energy Voice.
Origin Energy will sell its interests in Australia’s Northern Territory Beetaloo basin - where expectations are high that the area could be on par with shale gas plays in North America – in a A$60 million (US$40.3 million) deal with Tamboran (B1), a joint venture owned by Tamboran Resources (ASK:TBN) and US oil and gas billionaire Bryan Sheffield.
Oil advanced at the start of the week as the Chinese city of Chengdu ended a two-week lockdown, boosting the outlook for demand.
Australia’s Woodside Energy has signed a joint research agreement with numerous Japanese partners to study the creation of a ammonia supply chain from Australia to Japan.
Ranhill Worley will provide front-end engineering and design (FEED) services for PTT Exploration & Production’s (PTTEP’s) Lang Lebah development offshore Malaysia in a deal worth MYR43 million (US$9.4 million).
China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, the International Energy Agency said.
The European Investment Bank (EIB), the bank of the European Union (EU) and the world’s largest multilateral lender, said it is ready to invest up to €1 billion (US$998 million) each year in green and sustainable development projects in Indonesia.
Indonesia-focused oil and gas company Conrad Asia Energy is preparing an initial public offering (IPO) on the Australia Stock Exchange to raise some A$45 million (US$30.3 million) as it seeks to develop its Indonesia upstream business.
Indonesia’s Medco Energi (IDX:MEDC) is open to the possibility of joining the Indonesian government consortium that is considering acquiring Shell's (LON:SHEL) 35% share in the Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605).
Indonesia’s national oil company Pertamina has signed an agreement on a joint rig-to-reef pilot project with South Korea’s KHAN covering the Attaka offshore blocks in East Kalimantan, Indonesia.
Jadestone Energy (LON:JSE) has been slapped with two directives from Australia’s offshore energy regulator as worries rise about the structural integrity of the company’s Montara floating production storage and offloading (FPSO) vessel following two oil leaks.
Santos (ASX:STO) today confirmed that China’s ENN has ceased to be a substantial shareholder in the Australian-listed oil and gas producer.
US giant Chevron (NYSE:CVX) has confirmed that it has been granted stakes in three permits to potentially access carbon storage offshore Australia.
Oil headed for a back-to-back weekly loss, burdened by demand concerns, rising stockpiles, and the possibility the Biden administration may make a fresh release from emergency reserves.
First Gen has reported that its delayed liquified natural gas (LNG) import project in the Philippines will finish construction by the end of Q1 2023.
Indonesia may form a consortium to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605), the country’s investment minister said Thursday.
Mitsui and Shell (LON:SHEL) have signed a joint agreement to explore the technical and commercial feasibility of carbon capture and storage (CCS) in Asia Pacific, including Japan.
China is lapping up liquefied natural gas (LNG) shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with knowledge of the matter.
Harbour Energy is expected to start gas production from its Andaman II Block offshore Indonesia in 2028, according to a senior Indonesian government official.
