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).
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
By Ed ReedSaipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
“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.
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.
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
Singapore’s Sembcorp Marine (SGX: S51) has been awarded master service agreements for the engineering, conversion, topside fabrication and integration of two Sevan cylindrical drilling vessels into floating LNG facilities for US-based New Fortress Energy (NASDAQ:NFE).
ExxonMobil (NYSE:XOM) has completed its exit from Russia, calling the departure an “expropriation” of its main Russian operation and potentially setting up a future legal challenge.
President Xi Jinping has promised a slow and steady end to the growth of planet-warming emissions in China, with energy security taking top priority as the country contends with a flagging economy and tumult on global fuel markets.
Cnooc Ltd said that net income probably more than doubled in the first nine months of the year, as China’s biggest offshore oil and gas driller continues to reap the benefit of higher energy prices.
Saudi Arabia has defended the OPEC+ decision to cut production, saying a US request to push back the move would have had a negative economic impact.
Malaysia’s 2023 budget announced on Friday introduces a raft of tax incentives for carbon capture and storage (CCS) as the country aims to become a regional hub for the nascent sector.
Sembcorp Marine today confirmed it will extend the time for repayment terms for Borr Drilling from 2023 to 2025 for the nine jack up rigs that the Singapore yard delivered to the driller between 2017 to 2019 after a final agreement was signed.
EIG-backed MidOcean Energy has struck a deal to buy Tokyo Gas’ stakes in four Australian LNG projects, for $2.15 billion in cash.
Studies suggest that many people in Asia see diversity, equality, and inclusion (DEI), as a Western concept, shaped by Western experiences and Western values, according to PwC.
Sembcorp Marine (SGX: S51) has landed a $3 billion contract for a newbuild FPSO for Petrobras.
EV sits down with Eko Lumadyo, Neptune Energy's Indonesia MD and its E,D&I champion, to discuss equality, diversity and inclusion.
Three migrant workers have died so far this year in work-related accidents at a Singapore yard that services the global energy industry and is run by Keppel Corporation (SGX:BN4), whose clients include major international oil and gas companies.
ADC Energy has secured a three-year contract to deliver rig integrity and inspection services to a division of Malaysian national oil company Petronas.
Chevron (NYSE:CVX) has safely delivered its first shipment of offset-paired liquefied natural gas (LNG) cargo to CPC Taiwan’s terminal at Kaohsiung from the Gorgon project in Australia, the US giant said Thursday.
China has installed a new oil and gas production platform near the median line with Japan in the East China Sea, reported the Asia Maritime Transparency Initiative (AMTI), sparking Tokyo’s anger.
Papua New Guinea (PNG) offered Japanese companies favoured access to new gas field development opportunities and liquefied natural gas (LNG) processing projects in trade talks that focused on energy security, PNG Prime Minister James Marape said, reported Reuters.
Keppel Offshore & Marine's (Keppel O&M's) subsidiary, Keppel Shipyard, has won a tender from Brazil’s national oil company, Petrobras, to carry out the engineering, procurement and construction (EPC) of P-83, a floating production, storage and offloading vessel (FPSO), in a deal worth about US$2.8 billion.
Japan's Inpex and joint venture partner Shell have extended a memorandum of understanding (MOU) with Indonesian utility PLN concerning long-term liquefied natural gas (LNG) supply. They have also expanded the MOU to incorporate joint studies in hydrogen, as well as ammonia, and CCS in relation to the proposed Abadi LNG project at the Masela Block offshore Indonesia.
Malaysia’s Petronas has signed a memorandum of cooperation (MoC) with the Ministry of Economy, Trade and Industry of Japan (METI), as well as a memorandum of understanding (MoU) with Japan Bank for International Cooperation (JBIC), to collaboratively pursue mutual sustainability goals of achieving carbon neutrality by 2050.
Santos (ASX:STO) has confirmed that it has received a US$1.4 billion offer from Papua New Guinea’s (PNG’s) national oil company Kumul Petroleum to acquire a 5% interest in the ExxonMobil-operated PNG LNG export complex from the Australian company. Crucially, the deal, if it goes through, will help Santos’ strategic about face towards oil in Alaska.
The development of the Santos-led (ASX:STO) Barossa gas project offshore Australia that will backfill the Darwin liquefied natural gas (LNG) export plant could be delayed by up to two years after a Federal Court ordered the operator to stop drilling at the US$3.6 billion project on 21 September.
Malaysia and Indonesia were the first countries in Southeast Asia to announce that carbon capture and storage (CCS) would play a role in decarbonising their industrial sectors. BP (LON:BP) in Indonesia, and Petronas in Malaysia, announced landmark projects in the oil and gas industry. However, while Indonesia has started having the right conversations around CCS, neighbouring Malaysia, and possibly even Thailand, appear to be making more progress within the region.
Indonesia has an ambitious target to almost double natural gas production from 6.5 billion cubic feet per day (cf/d) to 12 billion cf/d by 2030. Hitting that goal means giant undeveloped gas projects, such as Inpex’s Masela and Chevron’s IDD, must proceed rapidly.
Unlike most governments in the economically developed Western world, Indonesia’s leaders are crying out for more upstream oil and gas investment. However, even as demand is projected to rise up to four times by 2050, Southeast Asia’s biggest economy is struggling to convince energy investors to come.
UK-based Harbour Energy (LON:HBR) is aiming to develop more fields in its Natuna Sea A Block, that is a major gas supplier to Singapore. Harbour is seeing demand surge from the city state for piped supplies from its Indonesia block as global liquefied natural gas (LNG) spot prices remain elevated.