Energy Voice considers the prospect of an oil supercycle and its potential supply crunch, rising demand, and triple digit oil prices.
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.
Rystad Energy estimates that Chevron, based on the gas reserves of its discovered fields in Australia, holds the top position in terms of non-producing assets, totalling 21 trillion cubic feet (Tcf), among the major upstream companies operating in the country.
Thailand’s PTT Exploration & Production (PTTEP) has struck a significant shallow-water oil and gas discovery in Block SK405B off the Malaysian state of Sarawak.
Malaysia’s national upstream company Petronas Carigali has hired two jack-up rigs from Velesto Energy for a campaign this year.
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.
East Timor’s national hydrocarbon agency, the ANPM, and London-based government marketing agency, IN-VR, have teamed up to promote the Southeast Asian nation’s second upstream licensing round.
Sojitz, a major Japanese trading house, has announced it will accelerate its exit from thermal coal by halving its investments in projects by 2025 and eliminating them entirely by 2030.
Indonesian national oil company (NOC) Pertamina has a planned capital expenditure totalling $92 billion for the term 2020-24. The NOC will be seeking external funding and partnerships to meet this goal.
The Ceylon Electricity Board (CEB) has launched an international tender process for a floating storage regasification unit (FSRU) as Sri Lanka aims to start importing liquefied natural gas (LNG).
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.
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.
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.
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.
Malaysia will offer 13 offshore exploration blocks, including discovered fields and deep-water opportunities, as part of its Malaysia Bid Round (MBR) 2021 due to launch on 26 February.
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
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.
Indonesian national oil company (NOC) Pertamina is seeking to farm-down stakes in some of its key domestic assets taken over from international oil companies (IOCs) exiting Indonesia.
India’s state-backed Oil & Natural Gas Corporation (ONGC) is set to boost deep-water gas production from the Krishna Godavari (KG) basin to between 2.5 million and 3 million cubic meters per day (cm/d) by May this year.
Repsol and Petronas are on track to drill the much-anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin.
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.
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
SKK Migas, Indonesia’s upstream regulator, expects Eni to takeover Chevron’s giant Indonesia Deepwater Development (IDD) during the first quarter 2021. If the move comes to pass, expect other potential buyers, that could include Pertamina, Sinopec, Neptune Energy and Saka Energi, to be in the new IDD mix.