Harbour Energy is expected to start gas production from its Andaman II Block offshore Indonesia in 2028, according to a senior Indonesian government official.
Malaysia’s national oil company Petronas is considering acquiring further upstream acreage offshore Indonesia’s Aceh province as it seeks to develop more gas projects in the Southeast Asian nation. Significantly, more incentives are expected to be offered to encourage exploration investment.
Investment group EIG is buying a 25% stake in Repsol’s upstream unit for $4.8 billion, with an eye on a potential US IPO in 2026.
Repsol Sinopec Resources UK has appointed Nicolas Foucart as its new chief executive, replacing Jose Luis Muñoz as of today.
Indonesian upstream regulator SKK Migas has confirmed that Repsol’s (BME:REP) Kali Berau Dalam (KBD) gas discovery, initially thought to be the country’s biggest find in 18 years, is significantly smaller than expected, putting the mega project in doubt.
Spain’s Repsol has started drilling the much-anticipated Rencong-1X wildcat in the frontier deepwaters of Indonesia’s North Sumatra basin in the Andaman III Block.
Italy’s Eni (BIT:ENI) is offering to sell its Krueng Mane Block offshore Aceh in Indonesia to London-listed Harbour Energy (LON:HBR), reported Indonesian upstream regulator SKK Migas. Significantly, the potential acquisition seems logical given that Harbour’s recent exploration success could trigger a new development area in the region.
UK-listed Harbour Energy (LON:HBR) has announced initial success at its play-opening deepwater Timpan-1 exploration well offshore Indonesia in the North Sumatra basin. Significantly, the initial result bodes well for the frontier area and could open up more petroleum plays, which are thought to be gas prone.
Repsol has exercised its pre-emption rights to buy some of departing Edison’s stake in the Reggane Nord project, in Algeria.
Repsol has approved a move to sell 25% of its renewable energy business to a Swiss-French consortium, in a deal worth over €900 million (£760m).
Carbon storage sites in Asia are expected to be among the cheapest globally and this could give the region a big advantage in the expanding market as the world races to decarbonise.
Ørsted has entered inked a series of partnerships to support its plans to build a raft of solar and onshore wind projects across Spain.
Repsol is reportedly considering the sale of up to 25% of its oil and gas exploration and production (E&P) business to energy investor EIG.
Repsol plans to launch exploration in Libya in the third quarter, according to comments made during a recent meeting with National Oil Corp. (NOC).
Ørsted and Repsol have announced plans to explore joint development of floating offshore wind projects in Spain.
Repsol finished its 3D seismic shoot in Indonesia’s South East Jambi block onshore Southern Sumatra in December 2021 and is currently evaluating the data.
Harbour Energy (LON:HBR) is on track to start high impact exploration drilling in its Andaman II PSC offshore Indonesia in the second quarter this year. The news adds to the excitement in Indonesia as other companies, including BP (LON:BP), look set to probe the archipelago’s deep waters, following recent fiscal and regulatory enhancements.
Energy and chemicals giant Repsol (BME:REP) has reported profits of €2.49 billion (£2.1bn) across its activities last year, in a return to pre-pandemic form.
Hibiscus Petroleum (KLSE: HIBISCS) has completed its acquisition of Repsol’s upstream assets in Malaysia and Vietnam that will increase the Malaysian-listed company’s oil and gas production almost threefold.
Malaysia’s Hibiscus Petroleum has received the joint approval from Petronas and PetroVietnam to take control of Repsol’s interests in the Block PM3 CAA production sharing contract (PSC) and unitisation agreement of the East Bunga Kekwa – Cai Nuoc field under Block 46 PSC.
North Sea operator Repsol Sinopec Resources UK (RSRUK) is expected to put a major decommissioning contract for its Fulmar field out to tender next week.
Spain’s Repsol (BME:REP) is again delaying the drilling of the much anticipated Rencong-1X deep-water wildcat exploration well in the Andaman III Block in the North Sumatra basin offshore Indonesia.
ConocoPhillips (NYSE:COP) will exit Indonesia after agreeing to sell its assets in the country to local independent Medco Energi (IDX:MEDC) for $1.355 billion. The move could be a blow to Indonesia’s image in the longer run as the nation tries to attract foreign investment, but analysts generally see the deal as positive.
Oilfield services firm Archer has posted a pre-tax loss of around £5.6 million for the third quarter of 2021, as COVID continues to impact operations.