Exclusives

Diverse players provide a wide range of services.

Malikai TLP is an important project for TechnipFMC and its partners, showcasing our capabilities in delivering complex deepwater projects in the Asia Pacific region.

Institute continues to expand its offshore R&D capabilities.

India, Cairn India, oil, demand, production, Anil Agarwal, Vendata

The country aims to increase domestic oil and gas exploration, development and production, while reducing its reliance on imports, to meet growing demand.

R&D efforts improve efficiency and construction execution.

Deepwater International

Otto Energy subsidiary Otto Energy Philippines has entered into a letter of intent with Maersk Drilling for one of its ultra-deepwater drillships to drill a frontier wildcat offshore south-west Palawan.

Talisman Energy and its partners are looking to complete a base development plan for a combined FPSO and TLWP project offshore Vietnam by mid-2015.

Otto Energy, the former operator of the Galoc field in the Philippines, has sold off its remaining stake in the producing project to fellow Aussie independent Nido Petroleum for US $106 million.

Japan’s Inpex is selling 10% of its stake in a deepwater block offshore eastern Malaysia to Australian player Santos, although no sale price is being revealed.

Noble Energy and its partners in the ultradeepwater Leviathan Field offshore Israel are still waiting for an update on the situation that has seen the country’s Anti-Trust Authority essentially try to pull the rug from under their feet on one of the world’s biggest gas finds of recent times.

Exploration

Oil and Natural Gas Corp. Ltd. (ONGC), India’s top explorer, said on Aug. 4 it has bought an 80% participating interest and operatorship in one of Gujarat State Petroleum Corp.’s (GSPC) blocks in the Krishna Godavari Basin offshore.

China’s foreign minister on July 25 said he supported the idea of joint energy ventures with the Philippines in the disputed South China Sea, warning that unilateral action could cause problems and damage both sides.

Husky Energy is prioritizing investments in its offshore business and its integrated operations, CEO Rob Peabody said July 21.

ExxonMobil’s exit likely means further delays in developing a field that was first discovered in the 1970s. Difficulties with the field have included contract disputes and the remoteness of the block, which is on the southern edge of the South China Sea.

Indian energy company ONGC Videsh will bid in an upcoming auction to explore and develop gas fields off the coast of Lebanon, India's oil minister said on July 10.

Production

Gas will be produced in East Java field.

Chairman Manuel Pangilinan told reporters he was looking to discuss plans to resume PXP’s stalled Reed Bank project in the hotly contested waterway with the Philippine government.

Located at a water depth of about 55 m, the field’s main production facilities include one unmanned wellhead platform, one FPSO unit and four production wells. Currently, the gas field has two wells in production, CNOOC said in the release.

Two development projects in the Asia-Pacific region are making solid progress with a development plan submitted for an Australian project, while calls for bids have been issued for a field offshore Vietnam.

The membership talks come as OPEC members grapple with an oversupply of crude around the globe, brought on in part by rising production from U.S. shale regions.

Technology

Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said July 12, as the government prepares to offer new blocks to investors in bidding in December.

The country’s oil and gas output has been stagnant for years while the nation’s fuel demand is rising with its economic expansion, hitting federal finances with an import bill worth billions of dollars.

Thailand’s largest oil and gas explorer PTT Exploration and Production (PTTEP) is planning new investments or an extension of its operations in fields in Thailand, Malaysia and Myanmar, the company said on May 23.

PTT Exploration and Production PCL said on May 9 it was suspending investment in Indonesia after the Indonesian government filed a $2 billion lawsuit against the Thai state-owned energy firm for alleged damage from an oil spill eight years ago.

The top destinations for its LNG are Japan, South Korea and China. But Petronas is broadening its horizons, and the first cargo from its floating LNG facility was shipped to India in April, Reuters reported.