Following the news that Fairfield Decom will cease trading, Graeme Fergusson, managing director, shares his thoughts on the sector and the immediate risks that it faces.
Global energy consultancy Xodus Group has appointed a new late life and decommissioning lead in Asia-Pacific following a significant increase in activity in the region.
More than A$50 billion ($40.5 billion) of necessary decommissioning work needs to be carried out on Australia’s offshore oil and gas infrastructure, over half of which must be started within the next ten years.
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.
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.