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upstream

Asia

High stakes, frontier exploration, Australia’s Bight had it all

Earlier this month Murphy Oil joined a long list of explorers, which includes BP, Equinor, Chevron, Karoon Energy, Bight Petroleum, and their joint venture partners, that have now exited and passed over the opportunity to unlock the Great Australian Bight.

Asia

Indonesia opens upstream bidding with improved terms

Indonesia is offering six upstream blocks as part of its first licensing round in 2021 with improved terms to help attract new investment. Significantly, investors will have the option to choose between the newer gross-split production-sharing contract (PSC) and the traditional cost-recovery PSC, which the government tried to phase out in recent years.

Asia

Politics muddy the race for first LNG in the Philippines

The Philippines this week approved yet another proposed liquefied natural gas (LNG) import scheme as the country faces a looming gas supply crunch. However, the latest award, to AG&P, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.