South Asia
News
October 13, 2014
HANOI, Vietnam – Eni and Petrovietnam have signed two production sharing contracts (PSCs) for the exploration of blocks 116 and 124, located off the coast of Vietnam.
News
October 13, 2014
HONG KONG – CNOOC’s Enping 24-2 oil field has started production, the company said in a statement Oct. 13. Enping 24-2 is located in the Pearl River Mouth basin of the South China Sea with an average water depth of approximately 86-96 m.
News
October 13, 2014
STAVANGER, Norway (Bloomberg) -- Statoil will sell its 15.5% stake in the Shah Deniz field in Azerbaijan to Petronas for $2.25 billion as it seeks to reduce investment and prioritize high-value projects.
News
October 10, 2014
JAKARTA, Indonesia (Bloomberg) -- Indonesia, once the biggest oil producer in Southeast Asia, is giving up on its target of restoring output to 1 MMbpd even as operations begin at the Cepu block in Central Java. New projects will add little to Indonesia’s reserves, while output from aging fields will continue to decline, Deputy Energy and Mineral Resources Minister Susilo Siswoutomo said at this week’s inauguration of Cepu block, operated by a unit of Exxon Mobil Corp.. Without more exploration, Indonesia’s oil production may fall to 600,000 bpd in 2020, he said.
News
October 09, 2014
MOSCOW – Lukoil has commissioned a new oil field in Western Siberia. Arkady Dvorkovich, Deputy Chairman of the Russian government, and Vagit Alekperov, Presidenty of Lukoil, participated in the official commissioning of Imilorskoye field Oct. 8.
News
October 08, 2014
THE HAGUE, Netherlands -- Shell has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, the latest in a series of Shell deepwater projects. The Gumusut-Kakap field is located in waters up to 1,200 m deep. The platform is expected to reach an annual peak oil production of around 135,000 bpd, once fully ramped up. With oil production now under way, work on the gas injection facilities is continuing with an expected start-up during 2015.
News
October 06, 2014
KUALA LUMPUR, Malaysia (Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state-owned energy company, said it may delay construction of its C$10-billion ($8.9 billion) Canadian LNG project past 2030 unless proposed taxes are lowered this month.
News
October 06, 2014
TRONDHEIM, Norway -- Electromagnetic Geoservices has received a letter of intent worth $6.8 million from an international oil company for 3D EM data acquisition in Malaysia. The survey will be done using the vessel BOA Thalassa. The vessel is currently on its way to Asia and is expected to arrive in Singapore for inspection mid-October and thereafter commence the acquisition as soon as possible.
News
October 02, 2014
PARIS (Bloomberg) -- Asia is getting a greater choice of crude from Alaska North Slope to Venezuela’s Carabobo and Iraqi Basrah Light as the U.S. shale boom cuts American demand for overseas oil. Crude from around the world is competing for buyers in Asia, says the Paris-based International Energy Agency. South Korea is taking the first Alaskan export cargo since 2004, Japanese traders are purchasing U.S. shipments of ultra-light oil from the Gulf of Mexico and India is buying more Latin American output.
News
October 01, 2014
OSLO, Norway (Bloomberg) -- The first Alaskan crude export in a decade may herald increased demand for U.S.-built oil tankers because they’re the only kind permitted to handle the cargoes, said Arctic Securities ASA, an Oslo-based investment bank. The Polar Discovery, a crude tanker owned by ConocoPhillips and flying the U.S. flag, is sailing to Yeosu in South Korea, having previously been to Valdez, according to signals from the vessel compiled by Bloomberg. It’s the first to export Alaskan crude in a decade, according to Erik Nikolai Stavseth, an analyst specialized in trade and shipping at Arctic.
News
September 29, 2014
SYDNEY, Australia -- Roc Oil (China) Company, a wholly-owned subsidiary of Roc Oil, has finished drilling the first of two exploration wells in the Beibu Gulf Block 22/12. The WZ12-10-1 well has discovered oil pay in the Jiaowei (T42) formation, while no oil pay was interpreted in the Weizhou formation.
News
September 27, 2014
GEOJE-SI, South Korea -- Maersk Drilling’s fourth ultra-deepwater drillship was named in a ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea, on Sept. 25. Lene Berg, wife of Gregers Kudsk, V.P. in Maersk Drilling, had the honor of naming the drillship Maersk Voyager.
News
September 26, 2014
ABERDEEN, United Kingdom -- Tendeka has entered an exclusive strategic agreement with Beijing Wallgate Information Technology to deliver digital oilfield capabilities to key operators in China. The agreement will see Tendeka’s intelligent well technology installed in multiple wells over a minimum period of two years.
News
September 25, 2014
STOCKHLM, Sweden -- Lundin Petroleum, through its wholly-owned subsidiary Lundin Malaysia, has entered into agreements to acquire a 50% interest in PM328, and operatorship of the block, from Petronas Carigali. The effective date of the transaction is Aug. 31, 2014.
News
September 25, 2014
OKPO, South Korea -- Petronas commenced the lifting of the first topside module for its floating liquefied natural gas (PFLNG1) facility at the quayside of Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in Okpo, South Korea, on Sept. 22.
News
September 24, 2014
LONDON -- The fiscal and regulatory terms governing Mongolia’s upstream oil and gas sector remain attractive, with recent clarification of the legal framework surrounding E&P operations boosting investor confidence, according to research and consulting firm GlobalData. The company’s latest report states that while the new Petroleum Law, passed on July 1, makes few significant changes to the fiscal and regulatory terms governing conventional hydrocarbons, it contains specific provisions for unconventional hydrocarbons for the first time.
News
September 23, 2014
KARACHI, Pakistan (Bloomberg) -- Pakistan’s government will offer 10% of its shares in Oil & Gas Development Co., the biggest sale in eight years, to meet targets as part of a loan program with the International Monetary Fund. The sale of 322.5 million shares, or a 7.5% stake in the company, will take place “on or around Oct. 2,” according to a regulatory filing Sept. 23. The sale is valued at 85 billion rupees ($824 million) as of the price at 11:47 a.m. local time in Karachi.
News
September 23, 2014
ST. PETERSBURG, Russia -- The second tanker of oil produced at Novoportovskoye field on the Yamal peninsula (in the Yamalo-Nenets Autonomous District), was shipped to consumers in September. The batch of 27.2 thousand tonnes was shipped to northwest Europe in the last delivery on Sept. 17.
News
September 22, 2014
BANGKOK, Thailand -- PTTEP Brazil Investments in Oil and Gas Exploration and Production (PTTEP BL), a subsidiary of PTTEP, has entered into an agreement to acquire a 20% participating interest, from Shell Brasil Petroleo, in Concession BM-ES-23 in the Federal Republic of Brazil.
News
September 18, 2014
HOUSTON – Wild Well Control has unveiled its new Singapore-based subsea capping stack for response to a global deepwater well control incident.
News
September 17, 2014
MOSCOW, Russia (Bloomberg) -- Billionaire Vladimir Evtushenkov, the richest Russian to face criminal charges since Mikhail Khodorkovsky, was placed under house arrest yesterday on suspicion of money laundering.
