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South China Sea

Offshore

Philippines plans to explore oil-rich sea amid China tension

The Philippines is building defense alliances with the US and other security partners to help pave the way for resource exploration in the oil-and-gas-rich South China Sea, the nation’s top defense official said, amid heightened tensions with Beijing.

Asia

Bleak outlook for Philippines upstream as Malampaya disappoints

Natural declines and underinvestment in new exploration has left Philippine oil and gas production in freefall posing significant risks to future energy security. The risk is particularly acute given how reliant the Southeast Asian nation is on oil and gas for power generation, industrial processes and transportation, warn analysts at Fitch Solutions. But interest from investors has been rekindled.

Asia

Beijing interferes with Natuna drilling offshore Indonesia in South China Sea

A Chinese ship has been meddling with Harbour Energy’s ongoing drilling campaign at its Tuna block in the Natuna Sea offshore Indonesia. Significantly, the appraisal drilling is funded by Russia’s state-backed Zarubezhneft and the incident underscores the fact that Moscow’s energy interests in the South China Sea are increasingly being threatened by China.

Asia

Pertamina courts ExxonMobil at East Natuna for oil development

Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.

Asia

Philippines pushing for upstream renaissance

Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.