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 failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
East Timor could pocket just over $600 million if the Buffalo-10 exploration well, due to be drilled late October, is successful. The operator, Australia’s Carnarvon Petroleum, as well as UK partner Advance Energy, said yesterday that they have secured a jack-up drilling rig for the probe at the historic Buffalo field offshore East Timor.
Qatar Petroleum is set to supply another 1 million tonnes per year (t/y) of liquefied natural gas (LNG) to China after signing a 10-year contract with Shell. The deal brings Qatari LNG supplies to China under long-term deals to 12 million t/y.
India expects fuel demand to get back to pre-virus levels by the end of 2021 as the world’s third-biggest oil consumer emerges from the clutches of the Covid-19 pandemic.
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
Repsol and partner Petronas plan to take a final investment decision (FID) on the giant Kali Berau Dalam (KBD) gas discovery on the Sakakemang Block in Indonesia next year with full production targeted by 2027.
State-owned Pakistan State Oil, Pak-Arab Refinery and Pakistan LNG will receive a $4.5 billion loan to fund imports of crude, petroleum products, urea and LNG over 2021-2023.
Indonesia upstream regulator SKKMigas today announced that the South Jambi B Block onshore Sumatra and operated by Hong Kong’s Jindi Group has started flowing natural gas.
China’s long-awaited national carbon market is set to miss a government target to begin by the end of June, a new set-back to plans to create the world’s largest emissions trading system.
Australia’s Santos today announced that its large Dorado oil project offshore Western Australia has started the front-end engineering and design (FEED) phase. Santos is also seeking buyers for a share in the development, which has a “very low” carbon dioxide footprint and is expected to initially cost $2 billion.
UK-listed Harbour Energy said it is on track to probe the deep waters of Indonesia’s North Sumatra basin in its Andaman II production-sharing contract (PSC).
China's natural gas demand will continue to expand over the next 10-15 years in line with the country's target for emissions to peak by 2030, according Chinese gas industry officials.
Four independent non-executive directors of Serba Dinamik have resigned, citing differences of opinion over the Malaysian oil and gas services company’s decision to take legal action against its former external auditor, KPMG.
China’s CNOOC Ltd today said that the country’s “first offshore large-sized independent deep-water gas field” named Lingshui 17-2 has started production. The development, which CNOOC claims includes the world’s first 100,000 ton semi-submersible platform, underscores the advancement of China’s deep-water technical knowhow.
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Petronas, which has yet to make a firm carbon-neutral pledge, sees significant growth ahead for solar and wind, particularly as a hedge against volatile fossil fuel prices, Jay Mariyappan, head of the state-backed Malaysian company’s new energy business told the APAC power and renewables summit.
Singaporean rig builders Keppel Corporation and Sembcorp Marine have confirmed they are in talks over a merger of their offshore and marine (O&M) businesses.
Singaporean rig builders Keppel Corporation and Sembcorp Marine this morning requested a halt in the trading of their shares pending announcements.
Supplying liquefied natural gas (LNG) to the expanding Asian market has become more expensive for US producers this year, a Rystad Energy report reveals. Even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly high of 6.5 million tonnes in May and may keep rising to new peaks, according to the energy consultancy.
Russian state oil and gas producer Zarubezhneft aims to create a new gas cluster with assets in Vietnam and Indonesia following recent deals involving Premier Oil and Rosneft.
Industry sources report Hess has issued a tender for the provision of turnaround and inspection services at its North Malay Basin project offshore Malaysia.
Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has offloaded a A$363 million ($273 million) share in Oil Search, which has major stakes in Papua New Guinea’s emerging liquefied natural gas (LNG) sector.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Investments in Asia Pacific wind and solar power could double to $1.3 trillion over the current decade to 2030 compared with the period 2011-20, predicts Wood Mackenzie. However, in most Asian markets, subsidy-free renewable power will not be able to compete with coal power until 2025 or later, cautioned the energy research company.
Industry sources have told Energy Voice that liquidators for financially crippled Asia-focused upstream player KrisEnergy are accepting non-binding offers for the Singapore-based company’s assets.