Malaysian national oil company (NOC) Petronas has declared force majeure on its Yetagun field off Myanmar, which is on the brink of civil war, due to the depletion of gas production.
PTT Exploration and Production (PTTEP)
The Indonesian government has welcomed an Australian court ruling ordering Thailand’s PTT Exploration & Production (PTTEP) to pay compensation to Indonesian seaweed farmers following the 2009 Montara oil spill. The total bill could top more than $262 million.
Analysts at Macquarie bank believe Thai upstream player PTT Exploration & Production (PTTEP) is set to outperform as it is bolstered by strong crude prices and the mitigation of risk that output will disappoint at Erawan.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
Thailand’s PTT Exploration & Production (PTTEP) reported it is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a handover next year.
Thai national oil company PTT Exploration & Production (PTTEP) has hit sweet gas with its first exploration well, the shallow-water Dokong-1, in Block SK417, off the Malaysian state of Sarawak.
Transparency campaigners in Myanmar have appealed to foreign upstream producers to stop paying revenue to the military-led government which seized power in coup on 1 February.
Malaysia’s Petronas has successfully started producing liquefied natural gas (LNG) from its second floating LNG (FLNG) vessel at the PTT Exploration & Production (PTTEP) operated Rotan gas field off Sabah.
PTT Exploration and Production (PTTEP) and Kuwait Foreign Petroleum Exploration Company (Kufpec) have made a major gas find while drilling offshore Malaysia.
Petrofac has won its first contract for decommissioning work in Australia after building a track record in the UK.
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
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.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
Thailand’s state-backed upstream player PTT Exploration & Production (PTTEP) said Monday that its $2.45 billion deal to buy a 20% stake in one of Oman’s strategic gas fields from UK major BP will pave the way for future investments in the Middle East.
Eni and Thailand’s PTT Exploration and Production (PTTEP) have won the first offshore block in Abu Dhabi’s second bid round, Adnoc has announced.
The $14.9 billion Mozambique LNG financing has been signed, Oil India Ltd (OIL) has said.