Glimmers of hope for giant Vietnam offshore gas project
There are increasing signals that the long-stalled multi-billion dollar Block B gas project offshore Vietnam could finally start making progress again this year.
Asia
Japex sells Canadian shale gas stake to Petronas
Japan’s Japex will sell its 10% stake in a Canadian shale gas project to Malaysia’s Petronas amid concerns over profitability and its carbon footprint.
Analyst upgrades Velesto after rig working for ConocoPhillips sinks off Malaysia
The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues.
Former BP director set to be jailed in Singapore for corruption
A former director of BP’s marine fuels business in Singapore has been sentenced to 54 months in jail and ordered to pay about US$4.7 million for his role in a graft case involving close to US$4 million (S$5.3 million) while working for the supermajor.
Seadrill Partners wins more Malaysia drilling with West Capella
Seadrill Partners will use its West Capella drillship to drill four wells offshore Malaysia for an unnamed client in a deal worth about $43 million.
China targets some Australian LNG as trade dispute widens
At least two of China’s smaller liquefied natural gas (LNG) importers have been told to avoid buying new cargoes from Australia, a further example of the impact on trade from souring ties between the two countries.
Valaris wins rig contract extension in Thailand for Mubadala
Offshore drilling company Valaris, which last week emerged from bankruptcy, has won a contract extension for its Valaris JU-115 jack-up rig offshore Thailand
Inpex takes Ichthys LNG contractors to court in Japan
Japan’s Inpex has filed a lawsuit against joint venture company JKC, which consists of KBR, Chiyoda and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Singapore’s Keppel wins $2.3bn FPSO deal from Brazil’s Petrobras
Singapore’s Keppel Offshore & Marine (Keppel O&M) will build one of the world’s largest floating production storage and offloading (FPSO) vessels for Brazil’s Petrobras after winning a contract worth $2.3 billion.
PTTEP seeks rig for Myanmar drilling campaign
Thailand’s PTT Exploration & Production (PTTEP) is seeking a moored floating drilling rig for an appraisal drilling campaign off Myanmar.
Harbour Energy seeks deep water rig for Indonesia probe
UK-listed Harbour Energy is seeking a deep-water drilling rig as it prepares to probe the deep waters of Indonesia’s North Sumatra basin.
Asian Development Bank to end coal, oil and gas financing
The Asian Development Bank (ADB) will no longer finance new coal-fired power capacity, as well as oil and gas exploration and production, it announced in a draft policy statement on Friday.
Petronas gives IPC full ownership of Bertram field off Malaysia at no cost
Canadian-based International Petroleum Corporation (IPC) has taken full control of the Bertam field offshore Peninsular Malaysia.
Chevron pledges smooth transfer of Thai gas field to PTTEP
Chevron’s recently-appointed president Chatit Huayhongtong has pledged to ensure a smooth transfer of its Erawan gas field, now facing a legal dispute, to Thai upstream company PTT Exploration and Production (PTTEP), reported the Bangkok Post.
Thailand’s PTTEP eyes more acquisitions
Thai upstream player PTT Exploration and Production (PTTEP) plans to keep acquiring new production assets in the Middle East and Southeast Asia to boost reserves and bolster sales.
Qatar and Russia set to benefit from China’s robust LNG demand
Among major liquefied natural gas (LNG) suppliers, Qatar, as well as Russia and African producers, look set to benefit from China’s rising demand for the fuel, according to FitchSolutions.
Japan eyes overseas hydrogen investments with state funds
Officials in Japan are set to allow state-owned Jogmec to provide financial support for local companies investing in overseas plants that produce hydrogen or ammonia as part of a push to decarbonise, reported the Nikkei.
Outlook for Chinese oil imports remains bullish
China’s crude oil imports rose to 11.69 million barrels per day (b/d) in March, up 21% year-on-year, with further growth expected, reported FitchSolutions.
China’s April oil imports slide on higher crude prices
Estimates from OilX show China’s crude oil imports fell 11% month-on-month to 10.41 million barrels per day (b/d) in April. This would imply a year-on-year increase of 5.37%, or 0.53 million b/d, the latest data from the analytics firm showed.
Total talks up Papua LNG plan with authorities
Total has set out plans to get the Papua LNG plan back on track, following the declaration of force majeure on its Mozambique LNG project.
More upstream projects on the horizon for Australia
Australia is expected to see 118 oil and gas projects start operations across the value chain between 2021-2025, making up 6% of the total project starts in the Asia-Pacific (APAC) region, according to GlobalData.
Petronas awards Tanjung Offshore $12m decommissioning deal
Malaysian offshore service provider Tanjung Offshore, part of T7 Global, has received a $12.2 million contract from Petronas for the provision of plug and abandonment integrated services on the Pulai A field offshore Malaysia.
Total accused of alleged profiteering in Myanmar
Activist group Justice For Myanmar, which documents military-linked financial matters in the country, has accused French major Total of making excessive profits at Myanmar’s expense.
Vast opportunities loom as Asia offshore wind gets set for massive expansion
The offshore wind market in Asia is expected to experience massive expansion over the next five to 10 years, particularly in the more advanced economies of Taiwan, Japan and South Korea, as governments face increasing pressure to focus on climate change and hit their net-zero emissions targets.
Velesto evaluates recovery options for sunken rig off Malaysia
Malaysia’s Velesto Energy is evaluating potential recovery options for its jack-up drilling rig NAGA (dragon) 7 that sunk off the Malaysian state of Sarawak while working for ConocoPhillips.