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E&P

Asia

Valeura Energy buys Thai oil assets from bankrupt KrisEnergy

Canada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy.

Asia

Petronas awards upstream acreage to SK offshore Malaysia

Petronas has awarded Block SK427 off the coast of Sarawak to SK earthon, a subsidiary of South Korea’s SK Innovation, and Petroleum Sarawak Exploration & Production (PSEP) in an area where several discoveries were made last year. Petronas and SK will also collaborate on carbon capture and storage (CCS) opportunities.

Oil & Gas

TotalEnergies offshoot supplies solar batteries to Pertamina

Specialist solar batteries supplied by Saft, a subsidiary of TotalEnergies, are providing power continuity for Pertamina’s GG unmanned gas wellhead platform offshore Indonesia. The platform is operated by Pertamina Hulu Energi (PHE) ONWJ, Indonesia’s state-owned oil and gas company and produces around 40,000 barrels of oil per day.

Asia

McDermott delivers largest subsea project in Asia Pacific for India’s ONGC

US engineering giant McDermott has delivered the first ever pipe-in-pipe flowline for production in India as part of Oil & Natural Gas Corporation’s (ONGC)'s KG-DWN 98/2 project in the Krishna Godavari (KG) basin off India’s eastern coast. Significantly, the development is the largest and one of the most complex subsea projects in Asia Pacific, involving major subsea infrastructure installation in ultra-deepwater.

Asia

BP wins deepwater oil and gas exploration blocks in Indonesia

BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.

Asia

Hope stoked onshore East Timor as driller hits oil

Plucky explorer Timor Resources has encountered “hydrocarbon shows of significance” while drilling its second well onshore East Timor as the company considers an initial public offering (IPO) to raise more funds in its quest to unlock the nation’s petroleum potential. Significantly, there are no firm figures for the hydrocarbon shows yet, but plenty of hope.