Exclusives

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The Indian federal government intends to change the definition of petroleum in guidelines to include this resource.

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The country seeks to attract US$40 billion investment in its E&P sector over next five years.

Several major E&P projects have come online in Malaysia and Indonesia in recent times, including Sapura Energy’s SK 310 B15 gas field and Eni’s Jangkrik Complex development.

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The state-owned explorer faces challenges to produce gas from its UD-1 discovery in the Bay of Bengal.

India, ONGC, gas production, growth

The state-run company has increased its gas production by 10% in the last three years, but that is expected to rise.

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

Chevron Corp. operates the Erawan Field while state-owned PTTEP operates the Bongot Field under licenses which are set to expire in 2022 and 2023, respectively.

China has sold exploration rights for three oil and gas exploration blocks in the remote northwest Xinjiang region for more than 2.7 billion yuan (US $422 million), the Xinhua news agency reported Jan. 24.

India's oil and gas auction will be the country's first licensing round after eight years as it seeks to unlock its vast hydrocarbon resources.

The well was safely drilled to 2,725 m (8,940 ft), reaching high-quality, hydrocarbon-bearing reservoirs in the Toro and Digimu sandstones, consistent with pre-drilling expectations. The well confirms the southeast extension of the field.

Unit of CNPC is seeking more deposits of Myanmar to supply offshore pipeline.

Production

Surbana Jurong Myanmar and MOSB Ltd. have signed an agreement to design an Offshore Supply Base in Mon State, the companies said on Jan. 25.

Country’s push to plug winter supply gap leads to highest monthly production since at least 2014.

Move from coal to gas to handle pollution issues puts China on track to be the world’s top LNG importer.

Launched in 2009, the PY-1 Field is producing about 1.6 million standard cubic feet per day (MMscf/d) of gas from three wells. The amount is down from about 20 MMscf/d in 2011 due to accelerated pressure decline and water breakthrough in existing wells.

PetroChina Co. Ltd. (NYSE: PTR) has conducted its first major internal transfer of mining rights between subsidiaries to allow those with mature fields to look for oil and gas in under-developed regions.

Technology

Oceanteam said Feb. 9 that CSV Southern Ocean has secured a new contract and will start operations by mid-February 2018 for a firm period of 30 days and options to extend with 60 days.

India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said Feb. 7.

The transaction is expected to complete in the second-quarter of 2018, subject to completion conditions as prescribed in the agreement.

Shearwater GeoServices said on Jan. 18 it has been awarded a 3861 sq mile (10,000 sq km) marine seismic acquisition services contract by Total (NYSE: TOT) and Eni (NYSE: E).

The helicopter, identified as a Dauphin AS 365 N3 twin-engine helicopter, was en route to a production platform complex in Bombay High. The complex is about 93 km offshore.