Masdar head Al Ramahi said the Kyrgyzstan agreement marked a “new chapter for Masdar in our clean energy journey … we are glad to have the opportunity to bring the energy, passion and focus to hydropower that we have utilised for so many other renewable energy sources”.
The president went on to invite Exxon to invest in renewable energy and infrastructure, including for the new planned capital, Nusantara.
Geng North is thought to hold around 5 trillion cubic feet of gas and 400 million barrels of condensate. Eni sees the Kutei Basin becoming a “new world class gas hub”.
The company said it aims to increase its LNG contracted volumes to more than 18 million tonnes per year of LNG by 2026.
Jadestone CEO and president Paul Blakeley said Montara had been a “real problem”. The defect in July occurred in a tank that had already been inspected, he explained to Energy Voice.
Once the partners reach a final investment decision (FID), it would take around three years to reach first gas.
The companies have agreed to aim to reach a definitive agreement by the end of December. If agreed, this would trigger a final investment decision (FID) on Mako.
This mismatch prevents “any accretive equity financing”. As a result, the proposed pricing of the offer and purchase are not “in the best interest of the company and its shareholders”.
The engineering, procurement and construction (EPC) contract also covered an onshore receiving terminal, a 1-km long LNG jetty, an LNG and condensate loading berth and other utilities.
Jokowi noted interest in investing in Kenya’s energy sector – and asked for support from the government to speed up the move.
Indonesia accounted for 0.1% of Chevron’s production in 2022. It lost the Rokan block in August 2021, which had contributed 130,000 bpd the previous year.
"The decision to sell our participation in the Masela PSC is in line with our focus on disciplined capital allocation,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.
“There is a short window of time when liquidity becomes a challenge,” the executive said, with this week’s fundraising to tide the company over.
In April, the company reported work on Akatara was 28% complete. It is on track to reach first in the first half of 2024. Jadestone took final investment decision (FID) on the field in June 2022.
Shell is believed to have spent around $1.3 billion on the works already. Abadi LNG may cost $19.8bn, of which Shell’s stake would be around $6.3bn.
Five people were injured after an explosion at a refinery run by Indonesian state oil company Pertamina, the company’s third incident in recent weeks.
Around three billion barrels oil equivalent (boe) of resources,worth a total $5 billion are on the market, in Southeast Asia.
Eni had hoped to drill off Mozambique in 2020 but COVID-19 interrupted plans, Esgian analyst Matthew Donovan said.
Indonesia has awarded a trio of exploration blocks to several consortia of oil and gas firms, in the first of a series awards expected this year.
Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
A wooden replica of a North Sea gas platform – something of a departure from the usual cake, balloons and party hats.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
Indonesian energy company MedcoEnergi (IDX:MEDC) will boost its capital expenditure by nearly 50% to about $370 million this year, with a bigger portion allocated to oil and gas development.
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Spanish oil and gas company Repsol (BME:REP) is waiting for the issuance of an Indonesian presidential regulation and the derivative regulations to progress its proposed carbon capture and storage (CCS) project in Sakakemang block, onshore South Sumatra, in Indonesia.