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Damon Evans

Oil & Gas

Strong FPSO market expected to continue, says Rystad

The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease contracts were awarded in the fourth quarter of 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market.

Asia

Petronas and Sabah launch gas masterplan

Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.

Asia

Pertamina makes gas discovery at Mahakam

Pertamina’s Manapatu 1x exploration well in the Mahakam Block offshore East Kalimantan has hit gas. It marks the first discovery for Indonesia in early 2022.

Oil & Gas

Sembcorp Marine’s yard faces arbitration with $76 million claim

Singapore-based offshore construction company Sembcorp Marine (SGX:S51) has announced that its wholly-owned subsidiary, Jurong Shipyard, is facing arbitration under four separate contracts due to allegations of a breach of contract and payment claims exceeding $76 million relating to the termination of these contracts.

Oil & Gas

Australia posts record LNG exports in 2021

Australian exports of liquefied natural gas (LNG) hit a record high in 2021 of 80.9 million tonnes, according to estimates based on shipping data from EnergyQuest. Significantly, it is likely that 2021 is close to the peak of Australian LNG production, added the Adelaide-based consultancy.