Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
Asia
Asia Oil and Gas news and updates
Castorone off Scarborough work for at least a month
Saipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Saipem’s Castorone chalks up second accident in a month
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
All Asia Posts
Storegga joins forces with Petronas for CCS in Malaysia
Malaysian national oil company Petronas has signed a memorandum of understanding (MoU) with UK-based Storegga, a developer of carbon storage and clean fuels, to assess and determine the commercial, regulatory, and economic factors needed for the development of carbon capture and storage (CCS) hub and cluster projects in Malaysia.
China and India lead LNG regas additions in Asia
China and India will significantly expand their LNG import infrastructure over the next five years with the pair, led by China, set to record the highest LNG regasification capacity additions in Asia.
Woodside and Japan’s JBIC to work on energy supply chains
Woodside Energy and the Japan Bank for International Cooperation (JBIC) have signed a memorandum of understanding (MOU) aimed at securing a stable supply of energy for Japan and to assist in achieving its decarbonisation goals.
Japan will keep investment in Sakhalin-1 oil project in Russia
Japan will keep its investment in the Sakhalin-1 oil and gas project in Russia, said the nation’s trade chief.
Malaysian pair, Petronas and PETROS, sign gas and CCS deals
Petronas has signed two key agreements with Petroleum Sarawak (PETROS) on collaboration opportunities under the Sarawak Gas Roadmap that will help accelerate both parties’ shared aspirations to sustainably grow the Malaysian state’s energy industry.
Shell completes Malampaya gas divestment in Philippines
Shell (LON:SHEL) has completed the sale of its Malampaya gas field in the Philippines to Prime Infrastructure Capital following regulatory approvals and consent from joint venture partners.
G7 offers Vietnam and Indonesia $15bn to quit coal ahead of COP27
The G7 and its partners have made multi-billion dollar offers to wean Vietnam, Indonesia and India away from coal — but it has yet to convince these emerging economies to quit the dirtiest fossil fuel, reported POLTICO.
Putin welcomes friendly countries, China and India, to invest in Russia’s gas and LNG business
Russian President Vladimir Putin intends to allow companies from friendly countries, such as China and India, to invest in its gas and LNG business, as Western firms retreat.
Novatek eyes exporting LNG to Vietnam
Russia’s Novatek is considering exporting liquefied natural gas (LNG) to Vietnam for existing and future power plants, said the Russian gas company's CEO, Leonid Mikhelson.
PetroChina sees earnings rise as strong oil prices counter covid
PetroChina’s third-quarter earnings rose on stronger oil prices even as China’s strict Covid Zero policy continues to constrain fuel demand.
Sembcorp abandons merger plans in favour of Keppel O&M acquisition
Sembcorp Marine (S51.SI) has called off plans to merge with rival Keppel O&M, in favour of buying the company outright in a deal worth $3.2bn.
OMV and Jadestone terminate intended divestment of OMV’s stake in Maari field
In 2019, OMV announced the intended divestment of its 69 % interest in the Maari field offshore New Zealand to Jadestone Energy (LON:JSE). After ongoing engagement with Jadestone Energy, a mutual decision has been made to no longer pursue the transaction, the pair said Thursday.
Europe gas glut to help ease winter LNG crunch in Asia
Europe’s near-term natural gas supply glut means more fuel for Asia this winter.
Kent teams up with Serikandi Oilfield Services in Brunei
Kent has signed a joint venture agreement with Serikandi Oilfield Services in Brunei to pursue and execute select, EPC, EPCm, brownfield, and commissioning activities in the Southeast Asia nation.
PTTEP buys out Eni’s stake in Sharjah Onshore Area A in UAE
Thailand’s PTT Exploration & Production (BKK:PTTEP) further expands its investment in the United Arab Emirates (UAE) by acquiring 25% participating interest in the Sharjah Onshore Area A from Italy’s Eni (MIL:ENI).
Shell explores carbon transport and storage in Singapore and Brunei
Shell (LON:SHEL) said today that it is exploring the feasibility of carbon transport and storage options for Brunei and Singapore. Significantly, this could potentially form part of a carbon capture and storage (CCS) hub in Southeast Asia.
Baron Oil share price surges as expectations of big gas find rise off East Timor
UK-listed Baron Oil (LON:BOIL), which operates TL-SO-19-16 PSC offshore East Timor via its subsidiary SundaGas, has significantly boosted its aggregate gas-in-place and recoverable gas resource estimates after reprocessing the Chuditch 3D seismic data.
COSL makes major Middle East move
China Oilfield Services Ltd (COSL) has won a number of drilling contracts from one company in the Middle East worth 14 billion yuan ($1.92bn).
Provaris eyes pan-European ‘floating pipeline’ for compressed hydrogen
Australia’s Provaris (ASX:PV1) is looking to become a leader in the hydrogen midstream space, with eyes set on a fleet of vessels that would create Europe’s first supply lines for compressed green hydrogen.
AG&P finishes conversion of FSU for Philippines LNG import terminal
Atlantic, Gulf & Pacific International Holdings (AG&P) has announced the successful conversion of the 137,512 cubic meter LNG carrier called ISH into a Floating Storage Unit (FSU).
Sinopec makes major shale gas discovery in China
China’s Sinopec said it has discovered major shale gas reserves in the Jinshi 103HF exploratory well in the country’s Sichuan basin.
CNOOC says it finds first deep-water gas field in South China Sea
The Baodao 21-1 gas-bearing structure is the first large-scale deep-water natural gas field in the South China Sea with proved gas in place of over 50 billion cubic metres, reported Chinese national oil company CNOOC Limited.
More Australian LNG needed for Asia’s energy transition
Citing a recent report from the International Energy Agency (IEA), the Australian Petroleum Production & Exploration Association (APPEA), notes that Australian exports of liquefied natural gas (LNG) to Asia would need to triple to support the region’s energy transition.
Well Services Group takes on senior management to head up AsiaPac expansion
Well Services Group (WSG) has unveiled a new Asia-Pacific management team as it looks to expand its operations across the region.
Woodside reports record sales, ups guidance
Australia’s largest oil and gas producer Woodside Energy (ASX:WDS) reported record output and sales in the third quarter on the back of stronger natural gas prices and the completion of its merger with BHP’s petroleum business.