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
Velesto in the black after insurance payment for sunken rig
Malaysian driller Velesto Energy is back in the black after reporting a net profit of RM16.27 million ($3.88 million) for the second quarter following an insurance payout related to the sunken jack-up drilling rig NAGA 7.
Petronas CEO talks up sustainable energy transition
Tengku Muhammad Taufik, chief executive of Malaysian national energy company Petronas, today told the Asia Future Energy conference, that the pathway to a sustainable energy system is not yet clear. Moreover, there will be many different paths to achieving a net-zero emissions energy system, he said.
Indonesia’s upstream output to falter amid high risks
Indonesia's crude oil and natural gas production growth outlook continues to be downbeat. Total oil and gas output have seen broad declines since 2010 and the long-observed trend is not expected to be reversed any time soon, reports Fitch Solutions.
Sapura Energy wins FEED for Dorado wellhead platform
Malaysia’s Sapura Energy will carry out front-end engineering and design (FEED) work for the construction and installation of the wellhead platform (WHP) for the Santos-led Dorado project, in the Bedout Sub-basin, offshore Western Australia.
LNG remains crucial in Thailand’s energy transition says PTT
Natural gas and liquefied natural gas (LNG) will remain highly important to Thailand’s power sector and as a bridging fuel during the Southeast Asian nation’s energy transition, Auttapol Rerkpiboon, chief executive of state-backed Thai energy company PTT, told the Future Energy Asia conference today.
B.Grimm Power and PTT create LNG JV in Thailand
Thailand’s B.Grimm Power will form a 50/50 joint venture to source and trade liquefied natural gas (LNG) with PTT Global LNG, a subsidiary of state-backed energy company PTT.
Struggling Sembcorp Marine to raise $1.1 billion
Singapore offshore and marine giant Sembcorp Marine will raise S$1.5 billion (US$1.1 billion) in funds from a rights issue to support the company’s operations. The rig builder has been struggling with rising costs and delays to projects being built at its yards.
‘Distressed’ crude from Venezuela, Iran stacks up off Singapore
Oil stored in ships has been piling up off key Asian ports as a crackdown in China on private crude oil processors has blunted purchases and disrupted flows, including some US-sanctioned barrels from Iran.
BP bags approval for $2bn Tangguh LNG expansion project
Indonesian upstream regulator SKK Migas has approved BP’s $2.04 billion plan to develop new gas fields in West Papua that will supply its Tangguh liquefied natural gas (LNG) export project. However, the UK supermajor will likely need Indonesia to finalise regulations around carbon capture, utilisation and storage (CCUS) before any expansion can take place.
Worley wins Jansz-Io Compression deal with Chevron
Chevron has chosen Australian engineering company Worley to provide engineering and construction management services at the US giant’s recently sanctioned $4 billion Jansz-Io Compression (J-IC) project offshore Western Australia.
Santos awards Altera the FEED deal for Dorado FPSO
Altera Infrastructure (formerly Teekay Offshore) has been chosen to provide front-end engineering and design (FEED) work for the Dorado oil project's floating production, storage and offloading (FPSO) vessel offshore Western Australia.
ExxonMobil and PNG to restart negotiations for P’nyang
ExxonMobil and Papua New Guinea (PNG) will restart negotiations over the development of the P’nyang gas resource that the US major wants to develop as part of a phased liquefied natural gas (LNG) export project.
Shell triggers action plan amid growing Covid cluster offshore Brunei
Brunei Shell Petroleum has implemented a business continuity plan (BCP) to help limit the spread of Covid-19 in Brunei and maintain upstream production in the Southeast Asian nation.
China’s CNOOC to boost renewables spend, eyes offshore wind
CNOOC, China’s third-largest oil company, will boost spending on renewable energy by up to 10% per year to 2025, as it eyes returns that are similar to the oil and gas business. By 2050, CNOOC is targeting at least 50% of earnings from new energy.
Beijing interferes with Natuna drilling offshore Indonesia in South China Sea
A Chinese ship has been meddling with Harbour Energy’s ongoing drilling campaign at its Tuna block in the Natuna Sea offshore Indonesia. Significantly, the appraisal drilling is funded by Russia’s state-backed Zarubezhneft and the incident underscores the fact that Moscow’s energy interests in the South China Sea are increasingly being threatened by China.
ABB wins $120m deal for Chevron’s Jansz-Io project off Australia
ABB will supply the overall electrical power system (EPS) for the multi-billion dollar Jansz-Io Compression (J-IC) project offshore Australia after winning contracts with Chevron and Aker Solutions worth $120 million.
Shell hit by Covid-19 clusters in Brunei
Brunei’s oil and gas sector has been reporting an increasing number of Covid-19 cases following 22 new infections that were linked to the Shell-operated Champion 7 offshore oilfield cluster.
Repsol and Medco eye ConocoPhillips $1.5bn Corridor stake
Indonesia’s Medco Energi and Spain’s Repsol are reportedly keen to bid for ConocoPhillips' share of the giant onshore Corridor gas block in Indonesia estimated to be worth more than $1.5 billion.
McDermotts’ CB&I wins more Philippines LNG work
McDermott International’s CB&I Storage Solutions will provide the engineering, procurement and construction (EPC) work for a second storage tank at Atlantic Gulf and Pacific Company’s (AG&P’s) liquefied natural gas (LNG) import and regasification terminal in the Philippines.
Question marks as Petronas delivers its first ‘carbon neutral LNG’ cargo
Malaysia’s Petronas has delivered its first 'carbon neutral liquefied natural gas (LNG)' cargo from its Bintulu export complex to Japanese utility Shikoku Electric at the Sakaide import terminal in Shikoku Island. Although question marks remain around whether the industry can really make LNG carbon neutral.
Woodside bags BHP oil and gas business at discount in dream deal
A strategic merger between BHP and Woodside has been on the deal dream list in oil and gas circles going back three decades. Yesterday the pair confirmed that they will enter into a merger of their respective oil and gas portfolios in an all-stock deal that creates an LNG powerhouse.
Sinopec makes another big gas find in Sichuan basin
China’s Sinopec has discovered another 34.029 billion cubic metres (cm) of gas reserves at the Zhongjiang field in the Sichuan basin. Total gas reserves in the basin now stand at 106.1 billion cm, said the Chinese national oil company.
Woodside and BHP confirm oil mega-merger
Woodside and BHP today confirmed a mega-merger deal that will establish one of the world’s top independent oil and gas companies. Woodside said it would issue new shares to BHP shareholders in exchange for the mining giant’s petroleum business.
Pertamina courts ExxonMobil at East Natuna for oil development
Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.
Santos to sign Oil Search merger deal next month
Santos chief executive Kevin Gallagher said today that a binding merger deed with Oil Search should be signed next month. The merger would make the combined companies one of the largest in the region and in the top 20 globally.