Exclusives

Eni, Merakes, offshore, East Sepinggan, drilling, Wisnu Prabawa Taher, SKK Migas, Indonesia, oil and gas

The Italian major is gearing up to develop the Merakes gas field offshore Indonesia in the East Sepinggan Block with a six-well drilling campaign in March 2019.

 

 

petronas_malaysia_well_intervention

Malaysia Petroleum Management realized that some 50% of the country’s well inventory was idle, resulting in a locked-in potential of some 80,000 barrels of oil per day. So it set out to arrest Malaysia’s production decline rate.

ief16

The two nations plan to draw up a joint strategy for sourcing crude oil from the international market.

An ONGC Ltd.-led consortium is chasing hydrocarbon leads in the shallow waters of the MB-OSN-2005/1 Block, located in the Mumbai Offshore Basin near Saurashtra, after two exploration wells hit oil and gas.

Reliance Industries, BP, KG-D6 Block, India oil and gas

The companies plan to invest about US$4 billion to develop natural gas discoveries in the Bay of Bengal’s KG-D6 Block.

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 agreement for Shell's 26.56% stake in the Greater Sunrise gas field off the northern coast of Australia will allow East Timor to push for development of the project.

Australia's competition watchdog, ACCC, said it will not oppose oil and gas firm Santos's $2.15 billion acquisition of Quadrant Energy.

Total (NYSE: TOT) and Abu Dhabi National Oil Co. (ADNOC) have signed a concession agreement to launch an unconventional gas exploration program in the high potential Diyab play, Total said on Nov. 12.

The Philippines is ready with two joint oil and gas exploration agreements to be signed with China, its energy minister said on Nov. 7, and reiterated his position calling for the lifting of the ban on drilling works in a disputed area in South China Sea.

Malaysia's Petroliam Nasional Berhad (Petronas) said on Oct. 21 its subsidiary would buy a 10% stake in Oman's Al Khazzan gas field.

Production

The LNG expansion, which analysts estimate will cost $13 billion, is crucial to the Pacific island nation’s economy as LNG is its biggest export earner, while demand for the fuel is surging in international energy markets.

Indonesia’s Pertamina is targeting 2019 crude oil output of 414,000 barrels per day (bbl/d) and natural gas output of 2,944 million cubic feet per day (MMcf/d), an official at the state energy company said on Nov. 7.

Aker Solutions said Oct. 23 it has received a notification of award for orders valued at more than NOK 1.7 billion (US$204 million) from the China National Offshore Oil Corp. (CNOOC) to provide the subsea production system and umbilicals for the Lingshui 17-2 gas field.

Turkey and Italy are the last buyers of Iranian crude outside China, India and the Middle East, according to tanker data and an industry source, the latest sign that shipments are taking a major hit from looming U.S. sanctions.

The project brings together leading subsea equipment and services from BHGE, McDermott and LTHE to provide ONGC with end-to-end project delivery.

Technology

Chevron Corp. (NYSE: CVX) has named Steven W. Green as president of Chevron North America E&P, effective March 1, 2019, according to a news release. Nigel Hearne will succeed Green as president of Chevron Asia Pacific E&P.

Japan's Kyushu Electric Power Co said on Oct. 15 it restricted third-party solar power supplies over the weekend, marking the first time a Japanese utility has curbed the use of renewable energy to avoid a sudden blackout.

Taking ConocoPhillips' 30% stake would help East Timor position itself to push for the development of Greater Sunrise, discovered in 1974 but development long delayed.

Block 29/11 is located in Pearl River Mouth Basin of the South China Sea. The block covers a total area of 1,808 sq km (698 sq miles) with a water depth of 300 m to 600 m (984 ft to 1,968 ft).

The decision to sell some U.S. GoM assets came as the state-controlled Chinese oil firm finalizes an internal restructuring that combines its Beijing-headquartered E&P team with Calgary-based Nexen Petroleum.