JGC (TYO:1963) said today that it has reached a settlement with Inpex (TYO:1605) regarding the lawsuit that Inpex filed against joint venture company JKC, which consists of KBR (NYSE:KBR), Chiyoda (TYO:6366) and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Jakarta is preparing to bolster its maritime security defences in the Natuna Sea, which is rich in fisheries and natural gas, after increasing incursions by Chinese vessels within Indonesia’s exclusive economic zone (EEZ). The news should provide some comfort to upstream oil and gas investors operating in the Natuna Sea.
Indonesia has sent a naval ship to tail a Chinese survey vessel that has been operating close to Harbour Energy’s Tuna Block in the Natuna Sea within Indonesia’s exclusive economic zone (EEZ).
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
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.
Thailand’s PTT Exploration & Production (PTTEP) said yesterday that there is still “no clarity” around access to the Chevron-operated Erawan gas field off Thailand ahead of a transition next year. PTTEP wants access before next April’s handover to ensure a smooth transition and stem a production decline at the field, which is key to Thai energy security.
Thailand’s PTT Exploration & Production (PTTEP) said it will need between one and two years to hit its contractual production target at the Erawan field offshore Thailand once it takes over from current operator Chevron.
At least two of China’s smaller liquefied natural gas (LNG) importers have been told to avoid buying new cargoes from Australia, a further example of the impact on trade from souring ties between the two countries.
Japan’s Inpex has filed a lawsuit against joint venture company JKC, which consists of KBR, Chiyoda and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Philippine President Rodrigo Duterte said challenging China in the South China Sea will only lead to violence, and that he will only do so if Beijing drills for oil in the disputed waters.
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Chris O'Shea, the CEO of British Gas owner Centrica, has said his family was sent a package of excrement amid a bitter engineers' dispute.
Qatar's emir has warned against any military confrontation over the diplomatic dispute between his country and four other Arab nations, saying it would only plunge the region into chaos.
Offshore unions have launched a ballot for industrial action on Wood Group over pay and conditions.
Lansdowne Oil and Gas has called a meeting of shareholders giving them the opportunity to vote on the company's proposals to raise "essential" funds by issuing 350 million shares, devaluing the company in the process.
Vietnam has demanded China moves a controversial oil rig as well as abandoning plans to start drilling in waters where jurisdiction is unclear.