Exclusives

Vantage Drilling’s Platinum Explorer drillship is working for ONGC in India. (Source: Vantage Drilling)

Companies are planning to spend billions of dollars on offshore projects, while also tapping technology for onshore fields as demand grows.

The company is looking to push ahead with a FLNG solution for the Pandora gas field in PRL 38 offshore PNG.

Talisman Energy is due to go out to tender this week for what is believed to be Asia’s first tension leg wellhead platform (tlwp) for its upcoming Ca Rong Do development, offshore Vietnam.

Exploration work is also moving along at a steady pace, with appraisal drilling and seismic shoots ongoing.

This huge country has had to look, learn—and invest—in resources outside its own borders just as much as it has at home to find the key to unlock the subsurface riches that it undoubtedly possesses.

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

Block R’s surface area is about 672 sq km, and it is in about 100 m to 1,400 m of water. JX Nippon is increased its presence in Malaysia.

Pertamina plans to invest around $2 billion annually into Mahakam, if given control. Target output is 1.2 Bcf/d to 1.5 Bcf/d of gas, Reuters said. 

The discovery was made at the Bestari-1 exploration well in the deepwater Block R production-sharing contract and is being evaluated with a view to planning an appraisal campaign.

Parent of refiner Sinopec Corp. will provide integrated oilfield services worldwide this year, chairman Jiao Fangzheng said. It also seeks an overseas acquisition for technologies, he said, according to Reuters.

High inflation and currency controls could be reasons Vietnam’s state-owned PetroVietnam might sell its 40% stake in the Orinoco belt project, a senior Petroleos de Venezuela source suggested, Reuters said. 

Production

The Bertam Field has been developed with a wellhead platform adjacent to a spread-moored FPSO in a water depth of 75 m (246 ft). 

Woodside now holds interests in six different permits covering a combined area of 46,000 sq km, and is now the largest acreage holder in the emerging Rakhine Basin.

KrisEnergy Ltd. contracted Key Gibraltar for six months for its Thai drilling program, which includes the Rossukon-2 well and 15 development wells in the Wassana oil field.

CNOOC Ltd.’s Qinhuangdao 32-6 comprehensive adjustment project has commenced production, the company said March 9 in a news release. The Qinhuangdao 32-6 oil field is located in Bohai Bay with an average water depth of about 20 m (66 ft).

CNOOC Ltd.’s Jinzhou 9-3 comprehensive adjustment project has commenced production.

Technology

 Last year, Indonesia's Pertamina was among companies awarded 11 Indonesian blocks, Reuters said. Indonesia offered 16 conventional and unconventional blocks last year, said the energy and mines ministry’s acting director general.

Block 105 covers 7,192 sq km in the Gulf of Tonkin.

China may merge its state-owned oil companies to create giants that will be more efficient and capable of taking on overseas rivals like Exxon Mobil Corp., the Wall Street Journal reported.

Scott Myers and Edward Wharam joined as managers for the Middle East and Indonesia and Malaysia, respectively.

ABB has won a contract worth more than $50 million to supply the electrical system for PFLNG2.