Indonesia grumbles over Chevron IDD divestment process
Indonesian upstream regulator SKK Migas appears to be getting frustrated over the slow divestment process for Chevron’s (NYSE:CVX) share in the giant Indonesia Deepwater Development (IDD).
deepwater
ExxonMobil teams up with India’s ONGC for deepwater exploration
ExxonMobil (NYSE:XOM) and India’s Oil & Natural Gas Corporation (ONGC) have signed a heads of agreement covering deepwater exploration off the east and west coasts of India. The news bodes well for ONGC, which recently pledged to boost exploration investment by 150% to $4 billion.
Repsol and Petronas spud exciting Andaman deepwater exploration well in Indonesia
Spain’s Repsol has started drilling the much-anticipated Rencong-1X wildcat in the frontier deepwaters of Indonesia’s North Sumatra basin in the Andaman III Block.
BP and Reliance close to starting giant India deepwater gas project
BP (LON:BP) and Reliance are expected to start commissioning of the MJ gas development in the KG D6 deepwater Block offshore eastern India later this year. The MJ field will have an annual average production capacity of 90 million barrels of oil equivalent per day (boed).
Boost for Indonesia as BP signs deep-water PSCs
In a boost for Indonesia, BP (LON:BP) has today signed the 30-year production sharing contracts (PSC) for Agung l and Agung ll deep-water oil and gas exploration blocks with the government of Indonesia. The areas are underexplored with significant potential for natural gas resources, close to expanding gas demand markets.
BP wins deepwater oil and gas exploration blocks in Indonesia
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.
Southeast Asia to dominate global deepwater gas activity with $25bn spend
Southeast Asia will lead other regions in having the largest share of new deepwater gas and condensate developments taking a final investment decision (FID) between 2022 and 2025, research from Rystad Energy shows. Significantly, around $25 billion is expected to be spent on greenfield deepwater developments in the region from 2021-2025, up from $2 billion over the prior five-year term.
ExxonMobil talks over deepwater deals with India’s ONGC
ExxonMobil (NYSE:XOM) is reportedly discussing acquiring stakes in some deepwater fields from state-backed India’s Oil and Natural Gas Corporation (ONGC).
ONGC pumps first gas from U1B deep-water well off India
Indian state-backed Oil & Natural Gas Corporation (ONGC) has pumped first gas from its deep-water U1B well off India’s eastern coast.
West Capella tipped to drill key well for Repsol in Indonesia’s deep waters
Aquadrill Offshore’s ultra-deep water drill ship West Capella is favoured to win the single-well contract for Repsol’s much-anticipated Rencong-1X wildcat in the North Sumatra basin offshore Indonesia.
Murphy halts Brunei sale after Shell makes deepwater discovery
Murphy Oil has decided not to sell its stake in Block CA-1 offshore Brunei following a deepwater discovery by the block’s operator Shell.
Balmoral renewables ‘evolution’ brings Europe and Far East export targets
New export markets in renewables are on the cards for Balmoral Group, typically known for its oil and gas buoyancy tech, as its product offering “evolves”.
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.
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.
Harbour Energy on track for deep-water Indonesia probe
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 CNOOC starts up first 100% owned deep-water gas field
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.
Petronas awards deep-water Limbayong deal to TechnipFMC
TechnipFMC will carry out the engineering, procurement, construction, installation and commissioning contract for the subsea production system, umbilical, riser and flowline (SURF) at Petronas’ Limbayong deep-water development offshore Malaysia.
BP and Reliance boost KG-D6 deep-water output offshore India
BP and India’s Reliance Industries have started production from a second ultra-deepwater gas field in the Krishan Godavari (KG) basin off India’s east coast.
China’s CNOOC readies first deep-water flows as reserves jump
CNOOC, China’s third largest oil company, is expected to start production at Lingshui 17-2, a large deep-water natural gas field in the South China Sea, during the first half of 2021.
Petronas set for deepwater FID offshore Sabah
Petronas Carigali is aiming to take a final investment decision (FID) on its Bestari deep-water oilfield development offshore Sabah in East Malaysia this year.
Malaysia unveils deep-water and CCS opportunities
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Repsol’s Indonesian wildcat targeting 4 Tcf of gas
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
TechnipFMC wins Malaysia deep-water deal
UK-based engineering giant TechnipFMC has won a deal worth between $250 million and $500 million for a key contact at the Petronas-operated Limbayong deep-water development offshore Malaysia.
Petronas readies 13 blocks for 2021 offshore round
Malaysia will offer 13 offshore exploration blocks, including discovered fields and deep-water opportunities, as part of its Malaysia Bid Round (MBR) 2021 due to launch on 26 February.
PTTEP and Petronas start up key Malaysian deep-water gas field
News that Thailand’s PTT Exploration & Production (PTTEP) and Petronas have started first deep-water gas production from Block H bodes well for Malaysia’s vision to attract further investment in its deeper waters.