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”.
Shell has evacuated non-essential staff from its floating liquefied natural gas (FLNG) facility in northwest Australia as the operator struggled to restore power that knocked out operations last week following a fire last Thursday.
Japan’s JGC has confirmed that together with Samsung Heavy Industries (SHI), that it has been awarded the front end engineering design (FEED) contract for a nearshore floating liquefied natural gas (FLNG) facility in Malaysia developed by Petronas.
International oilfield service companies are facing significant challenges winning contracts in Southeast Asia as local suppliers are increasingly securing available work.
Petronas’ giant Kasawari carbon capture and storage (CCS) project, which the company describes as one of the largest in the world, is progressing towards a final investment approval in 2022 after the Malaysian energy company invited bids for front-end engineering and design (FEED) contracts.
China officially told the Indonesian government to stop appraisal drilling at Harbour Energy’s (LON:HBR) Tuna Block offshore Indonesia in maritime territory that both nations view as their own during a months-long standoff in the South China Sea, reported Reuters.
Russian LNG exporter Novatek has signed a cooperation agreement with Vietnam's PetroVietnam on developing potential liquefied natural gas (LNG) and power projects in the southeast Asian country.
Western Australia’s entrepreneurial small businesses (SMEs) have the opportunity to partner with big industry by identifying solutions to reduce and recycle waste across the energy sector, thanks to a novel partnership between NERA (National Energy Resources Australia) and Shell.
The government of Sri Lanka is seeking to attract “top international” investors and revive exploration in the country’s under-explored deep waters as it seeks to shift the island towards a gas-based economy. Significantly, it is looking for help appraising and developing two potentially large gas discoveries.
Thailand’s PTT Exploration & Production (PTTEP) has raised its capital spending plan for upstream oil and gas to $16.5 billion over the next five years. PTTEP (BKK:PTTEP) will also spend an additional $4.4 billion developing its new energy business, which includes hydrogen, wind and solar, through to 2026.
Malaysian state energy company Petronas has confirmed the award of two front-end engineering design (FEED) contracts, to a JGC-Samsung Heavy Industries consortium and to Saipem, as part of an international dual FEED design competition for its nearshore floating liquefied natural gas (FLNG) project in Sabah in Malaysia.
Singapore LNG (SLNG) and Linde have signed a memorandum of understanding to collaboratively explore the feasibility and development of a carbon dioxide (CO2) liquefaction and storage facility in what could be a first in Asia.
Cnooc Ltd, China’s biggest offshore oil and gas driller has officially cut its ties with the New York Stock Exchange following a geopolitical spat with the US.
Norway’s Hoegh LNG will supply the first floating storage and regasification unit (FSRU) to operate at the Port Kembla Energy Terminal being developed by Australian Industrial Energy (AIE) in Australia under a long-term charter deal.
Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) has struck a second gas discovery in Baram province in Block SK417 in shallow waters about 180 kms off the coast of the Malaysian state of Sarawak.
Indonesian independent Medco Energi is carrying out a study to assess the potential of applying carbon capture, utilisation and storage (CCUS) technology at its operating assets.
Energy services group Expro has secured four subsea well access contracts in south east Asia and Australia, worth in excess of $50 million (£37.5m).
PetroChina, which is owned by China National Petroleum Corporation (CNPC), has secured an extension of its contract for the Jabung Block in Indonesia for an additional 20 years through to 2043.
BP (LON: BP) today signed a memorandum of understanding (MoU) with upstream regulator SKK Migas for Indonesia’s first enhanced gas recovery (EGR) and carbon capture utilisation and storage (CCUS) development. The EGR and CCUS scheme will be implemented at BP’s Tangguh liquefied natural gas (LNG) project.
Malaysia’s state-owned energy company Petronas is preparing to take a final investment decision (FID) on its third multi-billion dollar floating liquefied natural gas (FLNG) unit after awarding front-end engineering and design (FEED) contracts. The new-build floater project, dubbed ZLNG, will help solve challenges commercialising gas offshore Sabah in Malaysia.
Malaysia’s Petronas, along with Japanese companies Sumitomo and Tokyo Gas, will carry out a feasibility study to establish a supply chain of ‘carbon neutral methane’ to Japan.
Next month Italy’s Eni (BIT:ENI) will attempt to fix technical glitches that have forced a partial shutdown of its Merakes deep-water field offshore Indonesia.
Keppel Offshore & Marine has been awarded work for the conversion of a floating storage and regasification unit (FSRU) and the integration of a floating production storage and offloading vessel (FPSO).
US-based Cheniere Energy (NYSE:LNG) will supply 0.3 million tonnes per year of liquefied natural gas (LNG) to China for 20 years starting in January 2023 after signing a deal with Foran Energy Group.
Fast-moving plans for a Santos-led carbon capture and storage (CCS) project at the Bayu Undan field offshore East Timor, that would see the nation import Australia’s waste, have been described as “carbon colonialism” by independent thinktank La'o Hamutuk.
With domestic supply in decline, Asia urgently needs to address its growing gas and energy needs. In the past few months, multiple energy crunches across the globe highlights that a flexible and reliable supply of energy is critical to keep markets and prices stable. In Asia, a growing gap between booming gas demand and falling supply is cause for significant concern.