Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
Oil & Natural Gas Corporation’s (ONGC)
India’s state-backed Oil & Natural Gas Corporation (ONGC) is set to boost deep-water gas production from the Krishna Godavari (KG) basin to between 2.5 million and 3 million cubic meters per day (cm/d) by May this year.
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
Offshore engineering firm McDermott announced today that it has completed installation and startup on the Vashishta and S1 field contracts, off the east coast of India.
Singapore-based subsea service firm, Kreuz Subsea, has announced a substantial multi-million contract award with Indian multinational conglomerate, Larsen & Toubro (L&T).