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.

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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

Energy-hungry India will allow state-owned explorers to rope in the private sector to raise production from old fields as the world’s third biggest oil importer strives to better exploit its hydrocarbon resources and cut dependence on foreign oil.

India, the world’s third biggest oil importer, wants to unlock its vast hydrocarbon resources to cut dependence on foreign oil.

Medco confirmed this week that it was in talks with Ophir about a possible cash offer for the oil and gas exploration and production company currently based in Britain.

The sale to OMV, which is part of Shell’s three-year program to dispose of $30 billion by the end of 2018, included the company’s Māui, Pohokura and Tank Farm assets in New Zealand.

Indonesia has announced the winner of its third bidding round that will operate oil and gas blocks in three locations, Deputy Energy Minister Arcandra Tahar said.

Production

PetroChina Co. Ltd. struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Dec. 13.

Energy company Eni (NYSE: E) aims to start output of natural gas from its offshore Merakes project in Indonesia in 2021, the country’s deputy energy minister said on Dec. 4.

Mahu, located in the Junggar Basin, is named as one of the largest discovery in China after more than a decade of work, Economic Daily reported. PetroChina is keen to boost output at Mahu to 5 million tonnes in 2025.

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.

Technology

Petronas has expressed interest over the last year to diversify into renewables amid low oil prices.

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.

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.

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.