Exclusives

EIA figures show production grew to about 584 Bcf in 2014 from about 475 Bcf in 2013.

Some Asian companies are probably discouraged by lower oil and gas prices, but others are motivated, according to a partner at Mayer Brown.

Natural gas demand is forecast to increase 94% within six years, according to a recently released report. Demand for oil and coal are also predicted to rise, but not nearly as much.

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.

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

The survey is being undertaken by PTSC CGGV Geophysical Survey Co. utilizing the 3-D seismic survey vessel Amadeus, a news release said.

Baiyun Sag has “huge exploration potential,” CNOOC said. The area is expected to become the new reserves growth area of deepwater exploration of crude oil in South China Sea.

GS Energy Corp., the energy unit of South Korea’s GS Holdings Corp., will access 50Mbbl/d of oil for its share in Abu Dhabi’s largest onshore oilfield concession, Bloomberg said. 

Shell CEO Ben Van Beurden is in China discussing how Shell and BG Group merger won’t negatively affect China. But Shell/BG will have clout in global LNG market, Bloomberg said.

Singapore-based InterOil Corp. began flow testing at the Elk-Antelope gas field in Papua New Guinea for field appraisal. The field, in Gulf province, contains the Antelope-5 wellsite.

Production

The field is located in Yinggehai Basin of Beibu Gulf in the South China Sea with an average water depth of about 70 m.

Bukit Tua is offshore East Java on Ketapang Block. It could initially produce 3,700 bbl/d and 2MMcf/d of gas. Production capacity could be 20Mbbl/d of oil and 50MMcf/d of gas.

Otto Energy Ltd., joint-venture  partner of Red Emperor Resources NL in Block SC55 in the Palawan Basin offshore Philippines, executed a binding contract with Maersk Drilling to secure a drillship.

Japan’s state-backed E&P Inpex Corp. joined Total SA in developing the main onshore oil deposits in United Arab Emirates, Bloomberg said. 

Abu Dhabi holds about 6% of global oil reserves. 

The revenue slump was expected as the explorer based its annual plan on a price of $60/bbl, CFO Zhong Hua said April 24 in a conference call.

Technology

The job scope includes the accommodation, anchor handling, towing and supplying of EMAS Offshore's vessels, including an accommodation barge, platform supply vessel and PSV and anchor handling tug supply vessels. 

A bid for horizontal well drilling and fracturing integration for two well projects in northwestern China is estimated to be worth about 53 million renminbi.

Indonesia’s state-owned PT Pertamina seeks to join Iran’s E&P industry as operator or shareholder, said Resources Minister Sudirman Said. Indonesia also seeks to rejoin OPEC after seven years, Bloomberg said.

Package includes electro, instrument and telecom, propulsion, safety, automation and dynamic positioning. It is worth about 125 million Norwegian kroner. Jackups are owned by Vahana Offshore Pte Ltd. in Singapore.

Yang Hua was appointed as chairman of board and chairman of nomination committee at China’s CNOOC Ltd. Yang joined CNOOC in 1982 and has over 30 years’ experience in E&P.