Upstream oil and gas exploration activities in the North Natuna Sea will continue despite persistent protests from China, Indonesia’s upstream oil and gas regulator SKK Migas said.
Malaysia’s Petronas is seeking investors for 14 exploration blocks, six clusters of discovered resource opportunities and one cluster of late life assets in its Malaysia Bid Round 2022 (MBR 2022). Significantly, Petronas is making vast amounts of data available to potential investors.
Maersk Drilling has landed $32 million worth of contract extensions off Malaysia.
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.
Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) looks set to takeover operatorship at the Yadana gas project offshore Myanmar after TotalEnergies announced its decision to withdraw from the troubled country last week.
Shell’s (LSE:RDSA) sale of its 45% share of the Malampaya gas project in the Philippines to Udenna Corporation for $460 million has stalled after the country’s national oil company PNOC blocked the deal amid crumbling political support.
Exploration activity is set to recover in Asia Pacific this year with exciting campaigns on the horizon driven by the region’s hunger for natural gas and a rising sense of urgency to prove up new resources, analysis from energy research firm Wood Mackenzie shows.
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has made its first operated offshore exploration discovery with its Anambas-2X well in the Anambas Block offshore Indonesia.
Hibiscus Petroleum (KLSE: HIBISCS) has completed its acquisition of Repsol’s upstream assets in Malaysia and Vietnam that will increase the Malaysian-listed company’s oil and gas production almost threefold.
Carnarvon Energy (ASX:CVN) has today confirmed that the Buffalo-10 exploration well offshore East Timor is uncommercial.
Malaysia’s Hibiscus Petroleum has received the joint approval from Petronas and PetroVietnam to take control of Repsol’s interests in the Block PM3 CAA production sharing contract (PSC) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC.
Results from the highly anticipated Buffalo-10 well drilled by Carnarvon Energy (ASX:CVN) and Advance Energy (LON:ADV) offshore East Timor have disappointed. Drilling at the redevelopment project was targeting a potential oil bonanza, which now seems unlikely.
BP and Rosneft were the only companies to deliver more than a billion net barrels of oil equivalent through exploration last year, according to new research.
Australia’s Carnarvon Energy has called for an immediate trading halt in its shares as it prepares to release the well results for the highly anticipated Buffalo-10 well offshore East Timor. Carnavron and UK-listed parter Advance Energy have said that the well could unlock more than 30 million barrels of oil.
Inpex is set to start an exploration drilling campaign offshore Japan as it seeks to prove up new oil and gas fields, which if commercialised will mark the nation’s first new offshore gas development in over three decades.
Petronas Carigali, the upstream subsidiary of Malaysian national oil company (NOC) Petronas, has made a gas discovery at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow waters of Balingian province about 170 kilometres northwest off the coast of Sarawak, Malaysia.
Pertamina’s Manapatu 1x exploration well in the Mahakam Block offshore East Kalimantan has hit gas. It marks the first discovery for Indonesia in early 2022.
Cairn Oil & Gas, India’s largest private exploration and production company, has appointed former BP executive Martyn Smith as chief operating officer.
Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and a weakening currency.
Indonesian national oil company Pertamina is aiming to significantly boost production at the country’s second largest oil producing block, named Rokan, which it acquired from Chevron in August.
PTT Exploration & Production (PTTEP) (BKK:PTTEP) will be able to access the Chevron-operated Erawan gas field offshore Thailand ahead of a transition in 2022 after the pair signed three agreements designed to smooth the handover process following a bitter dispute.
US supermajor ExxonMobil (NYSE:XOM) is planning to increase its investment in Indonesia’s giant Cepu Block by $170 million.
Southeast Asia will lead other regions in having the largest share of new deepwater gas and condensate developments taking a final investment decision (FID) between 2022 and 2025, research from Rystad Energy shows. Significantly, around $25 billion is expected to be spent on greenfield deepwater developments in the region from 2021-2025, up from $2 billion over the prior five-year term.
Shell’s (LSE:RDSA) attempt to divest its stake in the Abadi liquefied natural gas (LNG) project, proposed in the Masela Block offshore Indonesia, is likely to be further delayed as operator Inpex (TYO:1605) seeks approval for a revised plan of development (POD).
The Australian offshore regulator NOPSEMA has ordered Shell (LSE:RDSA) to stop production at its Prelude floating liquefied natural gas (FLNG) unit until the energy major can demonstrate the giant floater’s ability to recover power and services safely.