Chevron and Eni closer to striking a deal on IDD
SKK Migas, Indonesia’s upstream regulator, said Italy’s Eni (BIT:ENI) is closer to a takeover bid for Chevron’s (NYSE:CVX) giant Indonesia Deepwater Development (IDD).
E&P
ExxonMobil board debates dropping giant projects in Vietnam and Mozambique
ExxonMobil’s (NYSE:XOM) board of directors is debating whether to continue with several major oil and gas projects, that have high projected emissions profiles, as the supermajor reconsiders its investment strategy in a fast-changing energy landscape, the WSJ reported.
Allegations of graft raised over Malampaya deal in Philippines after Shell and Chevron exit
The Philippines' energy ministry yesterday defended the sale of the Malampaya gas project - formerly controlled by a Shell (AMS:RDSA) and Chevron (NYSE:CVX) joint venture - to a company run by an ally of President Rodrigo Duterte, dismissing a graft complaint.
Petronas seeks to appease ConocoPhillips and Shell with $3bn floating LNG unit
Malaysia’s state-owned energy company Petronas is planning to build a third multi-billion dollar floating liquefied natural gas (FLNG) unit to help solve challenges commercialising gas offshore Sabah in Malaysia as part of an effort to appease ConocoPhillips (NYSE:COP) and Shell (AMS:RDSA) following losses related to an upstream development.
Repsol and Harbour Energy score driller for exciting deep-water campaign in Indonesia
UK-based Aquadrill – formerly Seadrill Partners – reported that its Capella drillship will head to Indonesia’s Andaman area to carry out a deep-water drilling programme for Harbour Energy (LON:HBR) and Repsol (BME:REP).
ExxonMobil’s giant Cepu Block exceeds expectations in Indonesia
Production and reserves at ExxonMobil’s (NYSE:XOM) giant Cepu Block - rumoured to be a divestment candidate - have exceeded expectations, reported Indonesian upstream regulator SKK Migas.
Pertamina ups planned Rokan investment to $3bn, seeks partners for EOR
Indonesian national energy company Pertmina plans to invest $3 billion in the giant Rokan Block over the next five years in an effort to maintain upstream production after taking over operatorship from Chevron. Crucially, Pertamina said it is also seeking for partners interested in jointly developing chemical enhanced oil recovery (EOR) technology after failing to acquire the knowhow from Chevron (NYSE:CVX).
Petronas upstream investment approvals to accelerate
Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.
Thailand’s PTTEP gets new boss, eyes energy transition
State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
Indonesia’s Medco to shoot 3D seismic in Natuna Sea
Indonesian independent Medco Energi (IDX:MEDC) operator of South Natuna Sea Block B offshore Indonesia, has started shooting 270 square km of 3D seismic at the Kaci field starting on 29 September, according to upstream regulator SKK Migas.
Jadestone celebrates Montara oil success off Australia
Asia Pacific-focused Jadestone Energy (LON:JSE) today said it has successfully tied the Montara H6 development well into the Montara field facilities offshore Australia in the Timor Sea and started production.
Harbour Energy finishes first appraisal well on Tuna Block despite Chinese meddling
Harbour Energy (LON:HBR) and its partner Zarubezhneft have successfully completed their first appraisal well in the Tuna Block in the Natuna Sea offshore Indonesia despite reports that Chinese vessels had been meddling in the area.
China’s NOCs to spend $120bn on drilling in effort to cut oil imports
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
Shale gas excitement builds in Australia’s Beetaloo as activity ramps up
Multiple shale gas exploration wells are being drilled in the remote Beetaloo basin in Australia’s Northern Territory and recent results have raised expectations that the area could be on par with shale gas plays in North America. Significantly, investors could finally find out whether the shale play is commercial by the end of next year.
Indonesia approves ExxonMobil drilling plan at giant Cepu Block
Indonesian upstream regulator SKK Migas has approved ExxonMobil’s plans to restart drilling at its giant Cepu Block in a bid to find new reserves and stem falling output at the country’s largest oil producing block.
East Timor extends licensing round to drum up more interest
East Timor is extending the deadline for its second licensing round in an effort to drum up more interest from international oil companies (IOCs) and national oil companies (NOCs).
Wood and NERA celebrate AI tech that could save billions of dollars offshore Australia
Aberdeen-based Wood and National Energy Resources Australia (NERA) today announced that the pair have teamed up to deliver an artificial intelligence (AI) software solution for offshore asset inspections that could create savings of A$2.8 billion ($2 billion) per year.
Contract terminated for sunken rig hired by ConocoPhillips off Malaysia
Malaysian driller Velesto Energy said that a contract to provide a jack-up drilling rig to ConocoPhillips for work offshore Sarawak in Malaysia has been officially terminated after the unit sunk in early May.
Indonesia sends navy to deter Chinese survey ship near Harbour Energy Tuna Block
Indonesia has sent a naval ship to tail a Chinese survey vessel that has been operating close to Harbour Energy’s Tuna Block in the Natuna Sea within Indonesia’s exclusive economic zone (EEZ).
Pertamina lifts Rokan output after Chevron exit
Indonesian national oil company (NOC) Pertamina has seen production at the giant Rokan Block edge up by 2,000 barrels per day (b/d) since taking over the field from Chevron last month. However, it remains to be seen if the NOC, which plans to spend $2 billion at Rokan by 2025, can significantly boost volumes in the longer term.
Shell’s production hit offshore Malaysia at Gumusut-Kakap
A production issue at the Shell-operated Gumusut-Kakap field offshore Sabah in East Malaysia will see exports of the country’s flagship crude oil Kimanis fall in October and November, reported Reuters.
BHP decommissioning bill pegged at $3.9bn
BHP Group will transfer some $3.9 billion worth of oil and gas decommissioning liabilities to Woodside if the pair’s merger goes through successfully. The liability is much smaller than expected helping to ease investor concerns at Woodside.
Santos and East Timor sign pact for potential $1.6bn CCS scheme at Bayu Undan
Australia’s Santos today announced that it has signed a memorandum of understanding (MoU) with East Timor’s regulator ANPM to progress a carbon capture and storage (CCS) project, estimated to cost $1.6 billion, at the ageing Bayu Undan field in the Timor Sea. But low returns and high complexity threaten the viability of the proposed scheme.
Sembcorp wins Dorado FPSO work
Singapore’s Sembcorp Marine will carry out front-end engineering design (FEED) work for the floating production, storage and offloading (FPSO) facility that will form part of Santos’ Dorado development offshore Australia.
PNG scrutinises Santos-Oil Search merger
The government of Papua New Guinea (PNG) has raised concerns that Santos’ proposed $15.5 billion merger with Oil Search could harm national interests in the liquefied natural gas (LNG) exporting country.