Exclusives

Implementation of two downhole deployment valves enables UBD and logging operations, enhances safety and eliminates formation damage in fractured carbonate reservoirs.

Wheatstone, LNG, Australia, Asia, gas

Even though oil prices remain in the low US $30 range, Australasian countries continue the push for natural gas resources.

China, oil, demand, Yilin Wang, China National Petroleum Co., IHS CERAWeek

In 2015, China’s GDP rose 6.9%, the slowest growth rate since the late 1990s, yet its oil demand rose - even surpassing the 2012 growth rate.

Both orders are part of PetroChina's furnace procurement program that BHD bid on. Aggregate order value under the program now totals about US$0.8 million, or more than 5.3 million renminbi.

Despite the undoubted size of the country’s shale gas reserves, Sinopec’s Fuling development is on the proverbial slow boat to China as it sails its pioneering but lonely path in the vanguard of the nascent industry’s efforts to establish its place in the market.

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

Executives from Reliance, BG and India's state-run oil firm ONGC have been at odds for months over the cost of closing the Tapti Field off the country's west coast.

Pertamina is looking to buy into projects in countries including Iraq, Saudi Arabia and Russia and will target expansion in border areas to strengthen Indonesia's sovereign claims, including in the South China Sea, Pertamina Upstream Director Syamsu Alam told Reuters in an interview April 11.

Pertamina has a three-year timeline for a technical and commercial evaluation of the East Natuna gas field, working with Exxon Mobil, Thailand’s PTT and Total, the company's upstream director says.

A consortium comprised of PGS, TGS and Schlumberger WesternGeco has secured the rights to undertake a multiclient seismic program offshore Malaysia’s Sabah, according to a news release.

​Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, the company said on March 9.

Production

The $1-billion rig, which was at the center of a fierce diplomatic stand-off between the countries in 2014, had moved into an area of the Gulf of Tonkin over which, Vietnam said, the two countries were still “executing delineation discussions.”

The Bhandut-3 well is flowing at the expected stabilized rate of 0.70MMscf/d (120 boe/d) through a 8/64-in. choke, Oilex said in a news release.

Daqing, in the country’s northeast Heilongjiang province, churned out 9.28 million tonnes of crude oil in the first three months of the year, or about 744,400 barrels per day (bbl/d), according to the Xinhua report.

The state-owned company aims to increase its domestic natural gas capacity to 40 billion cubic meters (Bcm) by 2020, from 23 Bcm currently, Chairman Wang Yupu said at a news conference in Hong Kong.

Myanmar’s Zawtika gas field will be shut down for annual maintenance for 10 days starting March 19, reducing exports to Thailand by about 580 million cubic feet per day, Thailand’s sole gas supplier PTT Pcl said.

Technology

PPB Advisory said it is working with Linc's management to review operations and assets in Australia and the U.S., adding Linc will continue with business as usual during review, Reuters reported.

Both of Sinopec's new partners are investment platforms under State-owned Assets Supervision and Administration Commission of the State Council, Reuters said. Most of SIPC's assets are not under Sinopec Corp.

The alliance aims to enable oil and gas operators to bring wells into production, deliver life-of field intervention services, as well as to suspend and abandon these wells later in their life without the need for costly mobile drilling units, a news release said.

The agreement is designed to jointly identify and pursue opportunities to develop the LNG market in Asia and in new importing countries, Total said in a statement.

Peter Coleman, CEO of Woodside, and Lee Seung-Hoon, president and CEO of KOGAS, signed the MoU in Perth, Australia, that day. Coleman said that KOGAS’ capabilities and technological innovations for LNG are world-class and complementary to Woodside’s business.