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China Opens Up to Foreign E&P Firms

Jan 09, 2020

For the first time, China will this year allow foreign companies to explore for and produce oil and gas in the country, opening up the industry to firms other than state-run energy giants, as Beijing looks to boost domestic energy supplies.The long-awaited opening accompanies a reshuffle of the so-called 'midstream' pipeline business, but experts say it may not excite immediate interest from global drillers because of the poor overall asset quality of China's hydrocarbon resources…

Record Production for Santos

Jan 22, 2020

Santos Ltd posted record annual production on Wednesday, benefiting from higher gas output at its Western Australia assets.Australia's second-biggest independent gas producer acquired Quadrant Energy in late 2018 for more than $2 billion, boosting…

Yinson: 8th Extension for Lam Son FPSO

Jan 16, 2020

Malaysian FPSO leasing specialist Yinson has signed another short-term charter extension for the Lam Son FPSO offshore Vietnam.Yinson's Vietnam JV PTSC AP on Wednesday, January 15, entered into an eighth FPSO contract extension for the FPSO with PTSC…

CNOOC to Drill 227 Exploration Wells in 2020

Jan 13, 2020

Chinese oil company CNOOC plans to drill 227 exploration wells in 2020 and has set aside up to around $13,8 billion for capital expenditures, CNOOC's highest annual Capex since 2014, according to Reuters.CNOOC said Monday that its targeted net…

First Gas Flows From SapuraOMV's SK408 Block

Jan 13, 2020

SapuraOMV, an E&P joint venture between Malaysia's Sapura and Austrian OMV, has started the first production from SK408 block, off Malaysia, bringing online the Larak gas field. The SK408 gas fields are part of discoveries made by SapuraOMV Upstream in a drilling campaign in 2014…

Shell Presses Ahead with Malikai Phase 2

Jan 13, 2020

Oil giant Shell has made a decision to invest in the second phase of its Malikai deepwater development offshore Malaysia.In an announcement on Monday, Shell's Malaysian subsidiary Sabah Shell Petroleum Company, the operator of the Malikai Tension-Leg Platform (TLP) located offshore Sabah…

Replacement Turret for Lufeng FSO Completed

Jan 10, 2020

SOFEC said it has loaded out of the replacement turret for the floating storage and offloading unit (FSO) HYSY121 at the Lufeng field, in the South China Sea.The construction was completed at Penglai Jutal Offshore Engineering Heavy Industries Co…

Layang Field Starts Oil Production

Dec 20, 2019

Commercial oil production started earlier this month from Layang field on Block SK10 offshore Sarawak, Malaysia, operator JX Nippon Oil & Gas Exploration Corporation announced this week.Layang, which has been producing natural gas since May 2017…

First Steel Cut for Cambodia Apsara Platform

Dec 09, 2019

Independent upstream oil and gas company KrisEnergy said first steel has been cut for the minimum facilities wellhead platform (MiniPlatform) for the Apsara oil field in Block A, offshore Cambodia, the nation’s maiden hydrocarbon development…

EnQuest Awarded Block PM409 PSC

Dec 04, 2019

Independent oil and gas production and development company EnQuest said it has been awarded the Block PM409 Production Sharing Contract (PSC) in partnership with Petronas Carigali Sdn Bhd (PCSB) by Petronas. Under the terms of the PSC, EnQuest…

Santos Lifts 2025 Production Forecast

Dec 03, 2019

Santos Ltd on Tuesday increased its forecast for 2025 production by 20% underpinned by oil and gas projects it plans to develop in Australia and Papua New Guinea.The company plans to produce 120 million barrels of oil equivalent (mmboe) a year by 2025…

Indonesia Mulls Production Contract Schemes

Dec 02, 2019

Indonesia considers allowing for production sharing oil and gas contracts optionsIndonesia is considering letting energy companies stick with the 'cost recovery' system for oil and gas production sharing contracts, the energy minister said on Monday…

Topside Floated for Dongfang Gas Field

Nov 28, 2019

ALE performed an 18,000t topside load-out and floatover transportation from a yard in Zhuhai, China. The topside will form part of a new offshore platform in the South China Sea to support natural gas development in the region.The Dongfang gas…

Lukoil Quarterly Profit Rises

Nov 26, 2019

Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.Its sales fell 8.1% from the second quarter to 1…

Sarawak Seeks to Recoup Tax from Petronas

Nov 21, 2019

Malaysia's state of Sarawak filed a writ summons and statement of claim against national energy firm Petroliam Nasional Bhd on Thursday to recover taxes owed, according to media reports.National news agency Bernama reported that the company…

Current News

Keppel O&M Turns Profitable in 2019

Keppel O&M Turns Profitable in 2019

Aramco Sells LNG Cargo to S-Oil

'Power of Siberia' Pipeline Begins Flow to China

'Power of Siberia' Pipeline Begins Flow to China

New Contracts for DOF in Australia

New Contracts for DOF in Australia

Record Production for Santos

Record Production for Santos

Shearwater Clinches 3D Survey Work Offshore India

Shearwater Clinches 3D Survey Work Offshore India

CNPC Finds Reserves From Pre-salt Field at Tarim

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