South Asia
News
November 25, 2014
KUALA LUMPUR, Malaysia -- As a part of a plan to restructure its business activities in Asia Pacific, Petroleum Geo-Services has decided to relocate its regional headquarters from Singapore to Kuala Lumpur. The move will result in consolidation and centralization of resources and lead to improved competitive advantage and reduced costs, all of which are important in the current challenging market.
News
November 21, 2014
BEIJING (Bloomberg) -- China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going. The nation has reduced its goal for the end of the decade to a third of an earlier estimate, as difficult geology, lack of infrastructure and limited exploration rights conspire against shale-gas ambitions. Big gas import deals, a lower oil price and China’s commitment to clean energy are also weighing on shale’s promise.
News
November 20, 2014
HONG KONG -- CNOOC has made a mid-sized new discovery of Lufeng14-4 well in the Eastern South China Sea.
News
November 19, 2014
SHANGHAI -- Fosun International's wholly owned subsidiary, Transcendent Resources, has closed the acquisition of Australia's Roc Oil Company (ROC), acquiring 92.6% of ROC’s outstanding share capital worth $380 million (AUD $439 million).
News
November 19, 2014
YANTAI, China -- CIMC Raffles has acquired a new order for its deepwater semisubmersible accommodation rig, the CR600, from C. Helios.
News
November 19, 2014
MOSCOW, Russia -- Rosneft Group and PDVSA have signed a long-term contract for supplies of oil and oil products of Venezuelan production.
News
November 18, 2014
TORONTO, Ontario -- ShawCor's Bredero Shaw pipe coating division has received a second contract with a value of approximately $200 million from BP Exploration (Shah Deniz) Limited for pipeline coating for the Shah Deniz Stage 2 development project. The contract is scheduled to be executed at the Caspian Pipe Coatings (CPC) plant in Baku.
News
November 18, 2014
PUNE, India -- Praj Industries, a global process solutions company, has won a $38 million (Rs.235 crore) order for oil and gas process skids for Petrobras in Brazil. QGIT, the main contractor for the Petrobras project in Brazil, has awarded the order for skids on Praj.
News
November 13, 2014
BEIJING -- Inspecting and maintaining sub-surface pipelines is always challenging. When the pipelines are located offshore in turbulent seas, the challenge increases exponentially. When the operation is carried out in the dead of winter in subzero temperatures, the task qualifies as, well, heroic.
News
November 13, 2014
REYKJAVIK, Iceland (Bloomberg) -- Norway, western Europe’s largest crude oil producer, says it welcomes China as a partner in efforts to develop Arctic energy resources. The Nordic country is doing business with China’s CNOOC Ltd. as it tries to find oil off Iceland’s shores. The Chinese company is also looking into exploring Norway’s eastern Barents Sea, an area where licenses will be awarded in 2016.
News
November 13, 2014
SINGAPORE -- Swissco Holdings has entered into a JV with Union Offshore to secure a charter contract for up to a seven-year period to support an oil company in Asia Pacific. The value of this contract is worth up to $115 million.
News
November 12, 2014
HOUSTON – ConocoPhillips has announced the start of gas production from the Kebabangan (KBB) gas field, located approximately 60 miles offshore Malaysia. Production will ramp-up as pipeline capacity becomes available. “This is the third major project startup planned in Malaysia this year, with Siakap North-Petai brought on stream in the first quarter and the Gumusut-Kakap floating production facility starting up in October,” said Matt Fox, executive V.P., Exploration and Production. “These projects will contribute to the company’s organic growth over the coming years.”
News
November 12, 2014
USLAN, South Korea -- Hyundai Heavy Industries (HHI) has signed a contract for a $1.94 billion order for the second package of the Nasr Full Field development project from Abu Dhabi Marine Operating Company.
News
November 11, 2014
PARIS (Bloomberg) -- China’s national oil companies have suffered setbacks to their investments in politically-unstable countries such as Sudan, Iraq, Syria and Libya, the International Energy Agency said.
News
November 10, 2014
PARIS (Bloomberg) -- Kazakhstan’s $48 billion Kashagan oil project in the Caspian Sea will definitely resume output by 2017 after partners replace pipelines, said Arnaud Breuillac, Total SA’s president of exploration and production. Output will start at the earliest in 2016, Breuillac said in a phone interview. Total, along with partners Exxon Mobil Corp., Eni SpA and Royal Dutch Shell Plc, stopped output in October last year, a month after production began, due to a natural gas leak.
News
November 04, 2014
SEOUL, Korea -- The naming ceremony for four semi-submersible rigs -- Hull No. 3031, 3032, 3034, 3035 -- ordered by Norwegian-based Songa Offshore was held on Oct. 24. The rigs were named as Songa Equinox, Songa Endurance, Songa Encourage and Songa Enabler, respectively.
News
November 04, 2014
SINGAPORE -- Pacific Radiance has deployed its newly delivered offshore support vessel on a charter in Southeast Asia. The vessel is on a five-year contract worth more than $70 million, including extension options, with a repeat client.
News
November 03, 2014
HONG KONG -- CNOOC has announced that the Golden Eagle Area Development (GEAD) in the UK North Sea has started production. The GEAD includes development of the Golden Eagle, Peregrine and Solitaire fields.
News
November 03, 2014
SINGAPORE -- Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract from BOT Lease Co. (BOTL) for a KFELS Super B Class jackup rig, worth about $240 million.
News
October 29, 2014
BP Plc wrote off $770 million from its investment in an undersea gas block off India’s eastern coast, citing “uncertainty” about benefits flowing from the government’s gas pricing policy.
News
October 29, 2014
Hijackings of small oil tankers by armed gangs are increasing in Southeast Asia, home to the shortest sea-trade route between the Middle East and China, even as pirate attacks globally fell for a third year.
