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.
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
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.
News that Thailand’s PTT Exploration & Production (PTTEP) and Petronas have started first deep-water gas production from Block H bodes well for Malaysia’s vision to attract further investment in its deeper waters.
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.
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 bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
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.
The apparent overthrow of the Aung San Suu Kyi administration by the Myanmar military threatens more than $1 billion of potential upstream investment in the Southeast Asian nation.
BP has agreed to sell a 20% working interest in Oman’s Block 61 to PTTEP, of Thailand, for $2.6 billion.
With Myanmar’s general elections in the rearview mirror, upstream development expenditure could more than double to over $1 billion by 2023 compared to this year’s spend.
The Chinese coast guard has been harassing a drilling rig contracted to Thailand’s PTTEP in Malaysian waters off Sarawak as the company attempts to appraise its biggest ever gas discovery.
The Petronas-operated Bintulu LNG export complex, in the eastern Malaysian state of Sarawak, desperately needs new gas supplies to maintain its exports in the near-to-medium term, as legacy fields mature.
Chevron is seeking contractors for a major retirement campaign across the Gulf of Thailand as the Southeast Asian nation braces for a huge wave of decommissioning.
Sonatrach and partners in the Bir Sebaa licence have signed a contract with Maire Tecnimont on the construction of a second central processing facility (CPF).
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
Cashed-up Asian NOCs are actively screening international assets and companies for once-in-a lifetime acquisition opportunities amidst the global downturn.
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.