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).
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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
Malaysia to lead global new-build offshore gas projects
Malaysia is expected to contribute about 12% or 3.1 billion cubic feet (bcf) of global natural gas production in 2025 from key offshore planned and announced projects that are projected to start operations between 2021 and 2025, according to research from GlobalData.
Southeast Asia deepwater spend set to double in 2021
Deep-water drilling activities are bouncing back in Southeast Asia following a lacklustre 2020 with overall spending expected to rise 51% this year to $504 million and almost back to 2019 levels, estimates from Rystad Energy show.
Shell wins Malaysia offshore exploration block
Shell has snapped up new exploration acreage in Malaysia offshore the state of Sarawak in a move that underscores the supermajor’s commitment to country’s upstream sector.
East Timor’s Bayu-Undan production boost exceeds expectations
Santos, which operates the Bayu-Undan field offshore East Timor, said today that production from its Phase 3C infill drilling program has started with the first well producing a better than expected outcome.
Deepwater activities in Southeast Asia set to boom
Deepwater upstream projects are increasingly important for Southeast Asia, where new investment in production is critical to meet rising demand for oil and gas, as economies continue to expand.
TotalEnergies’ Papua LNG advancing as ExxonMobil’s P’nyang talks look up
TotalEnergies and its partners are targeting to start front-end engineering and design (FEED) work at the Papua liquefied natural gas (LNG) project, led by the French company, next year. Significantly, ExxonMobil could also be close to cutting a critical deal with the Papua New Guinea (PNG) government that would help expand the development.
Pertamina to rejuvenate ageing Indonesia offshore facilities
Indonesian national oil company (NOC) Pertamina is finalising studies to replace ageing facilities at its Offshore North West Java (ONWJ) and Offshore South East Sumatra (OSES) blocks to help improve production, according to upstream regulator SKKMigas.
High stakes, frontier exploration, Australia’s Bight had it all
Earlier this month Murphy Oil joined a long list of explorers, which includes BP, Equinor, Chevron, Karoon Energy, Bight Petroleum, and their joint venture partners, that have now exited and passed over the opportunity to unlock the Great Australian Bight.
Four missing after wind farm vessel partially capsizes off China
Four people are missing after a wind farm installation vessel partially capsized off the coast of China.
Repsol finishes FEED for giant Indonesian gas discovery
Repsol has finished front-end engineering and design (FEED) work for its giant Kali Berau Dalam (KBD) gas discovery on the Sakakemang Block in Indonesia. The Spanish company and partner Petronas are now moving towards preparation for engineering, procurement, and construction (EPC) contractor selection, according to upstream regulator SKKMigas.
Keppel set to ‘vigorously’ defend FPSO arbitration
Singapore rig builder Keppel Offshore & Marine has received a request for arbitration from an unnamed counterparty relating to two engineering, procurement and construction (EPC) contracts for floating production storage and offloading units (FPSOs).
Santos posts record production rate at Van Gogh well
Santos today announced first oil from the Van Gogh Phase 2 Infill Development, with the first of three new production wells producing at the highest initial rate from an individual well in the field’s history.
Transocean rig could keep drilling off Myanmar for POSCO
Transocean’s Deepwater Nautilus semi-submersible unit looks set to keep drilling offshore Myanmar for South Korea’s POSCO after the Swiss-based driller announced a contract extension.
Shell puts Malaysian upstream assets on sale
Shell has officially launched the sale of its shares in oil and gas fields it does not operate offshore Malaysia, according to a document seen by Reuters.
Geophysical giants start seismic sweep offshore Sarawak
A consortium of PGS, TGS and WesternGeco have secured funding for a 6,400 sq km multi-client 3D seismic survey starting in October in the Sarawak basin offshore Malaysia.
Temasek defends green goals after backing Singapore polluters
It might seem contradictory to invest in carbon-emitting polluters while pledging to be an eco-trailblazer, but that’s exactly what Singapore state investor Temasek Holdings, which owns shares in two of the world’s largest rig builders, is attempting to do.
Santos’ revenues on track as investors wait on Oil Search bid
Santos reported solid number for the second quarter 2021 and remains in line to hit full year targets. Shareholders will now be watching whether Santos will up its offer for Oil Search, which if successful would make the merged group Australia’s biggest oil and gas producer.
Bidding war could erupt for crisis-hit Oil Search
Following Santos' proposed takeover offer for Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, a bidding war could emerge. Likely acquirers include ExxonMobil and TotalEnergies, both of which have big shares in the PNG projects.
Indonesia asks Chevron and Shell to complete divestments
Indonesian upstream regulator SKK Migas has asked Shell to complete the divestment process for its Masela Block, which holds the giant Abadi gas field, by the end of this year, reported local media. Chevron is also being pushed to finalise the sale of its Indonesian Deepwater Development (IDD) to Italy’s Eni.
Chevron fails to hit targets with giant CCS scheme at Gorgon LNG
Chevron is receiving heavy flak and potential fines for failing to meet emissions reduction targets at its troubled carbon capture and storage (CCS) scheme that forms a crucial element of the Gorgon liquefied natural gas (LNG) export project in Australia. Its partners include Shell and ExxonMobil.
Sleep-deprived workers at Shell’s Prelude FLNG make official complaint
Workers onboard Shell’s Prelude floating liquefied natural gas (FLNG) facility offshore Western Australia are complaining about occupational health and safety (OHS) breaches after being forced to work on only two to three hours of sleep.
Oil Search rejects $16bn merger approach from Santos
Australia’s Santos said today that it approached compatriot Oil Search about a potential merger last month. However, the offer to create an energy company with a market value of $16.1 billion was rejected by Oil Search, which has major stakes in Papua New Guinea’s (PNG’s) emerging liquefied natural gas (LNG) sector.
West’s energy transition narrative ignores the reality in Asia
BP’s latest review of energy use has been presented as positive developments in carbon reduction. However, the facts remain that fossil fuels continue to provide most of the world’s energy needs and that developing Asia is driving demand.
Oil Search seeks new boss after shock resignation
Oil Search managing director Keiran Wulff has suddenly resigned from the Australian-listed company following complaints about his behaviour and ill health. This leaves the Papua New Guinea-focused oil and gas producer in an uncertain position as it seeks new leadership.
Singapore prepares to swap its oil hub status for greener future
Royal Dutch Shell announced late last year it would slash capacity by half at its biggest oil refinery. For Singapore, where the plant has been a mainstay of the economy for six decades, it marked a turning point in one of the most successful bets on fossil fuels in history.