Asia

LNG

Santos breathes new life into East Timor’s Bayu-Undan

Santos has approved US$235 million worth of investment for an infill drilling campaign that will extend the life of the Bayu-Undan field offshore East Timor. As a result, the Santos-led Darwin LNG export plant, which is fed by the aging field, will not need to be shut down while new supplies of gas are developed.

Asia

BP sued by Bank of China over oil deals

Bank of China Ltd. has sued BP Plc in Singapore over its alleged role in fabricating oil deals with collapsed trader Hin Leong, in the latest effort by a creditor to recover losses after one of the biggest trading scandals in decades.

Asia

CNPC, CNOOC mull deal for Exxon’s Iraq oilfield stake

China’s oil giants China National Petroleum Corp. and CNOOC Ltd. are considering acquiring Exxon Mobil Corp.’s remaining stake in an oilfield in Iraq, which could fetch at least $500 million, according to people familiar with the matter.

Asia

Malaysia’s Sarawak seeks investors to find new onshore plays

The eastern Malaysian state of Sarawak, home to the country’s LNG export complex, will soon open onshore acreage for bidding, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.