The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, has joined ExxonMobil’s board of directors, in a move that has surprised some industry watchers.
McDermott International said today it had wrapped up the KG-D6 R Cluster subsea field development project off the east coast of India.
With Myanmar’s general elections in the rearview mirror, upstream development expenditure could more than double to over $1 billion by 2023 compared to this year’s spend.
The Chinese coast guard has been harassing a drilling rig contracted to Thailand’s PTTEP in Malaysian waters off Sarawak as the company attempts to appraise its biggest ever gas discovery.
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
Brunei Shell Petroleum Company has exercised an option for Maersk Viking to drill a deepwater exploration well.
The Philippines said oil exploration in the disputed South China Sea can proceed without China, in what could be a further sign of the Southeast Asian nation’s tougher stance against Beijing.