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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.
The companies plan to invest about US$4 billion to develop natural gas discoveries in the Bay of Bengal’s KG-D6 Block.
An infill drilling program will kick off the plan’s launch in second-half 2018 followed by installation of a 12-well slot platform in first-half 2019.
The treaty signing in New York on March 6 marked the first conciliation under the U.N. Convention on the Law of the Sea—a process UN Secretary-General António Guterres said could offer other countries a path toward resolving contentious maritime boundary disputes.
The state-owned explorer faces challenges to produce gas from its UD-1 discovery in the Bay of Bengal.
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 Oseil-28 well was completed as a producer with final clean-up rates prior to rig release of about 640 bbl/d of oil.
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.
Precision Drilling Corp. said July 9 it has been awarded one newbuild ST-3000 drilling rig in Kuwait under a five year take-or-pay contract with an optional one year extension.
Top Chinese oil and gas firm PetroChina (NYSE: PTR) struck high flow rates in a deep shale gas well in Chongqing in southwest China, the Xinhua News Agency reported on June 13.
Tap Oil Ltd. on June 4 provided an update on drilling of the Manora-8ST1 appraisal well at the Manora oil field in the G1/48 concession in the Northern Gulf of Thailand (Tap 30% interest).
A unit of Russian state oil firm Rosneft, Rosneft Vietnam BV, has started drilling at a new production well in waters off the southern coast of Vietnam.
Polymer injection is expected to begin between January and March 2015.
Purchases of the Shell and ConocoPhillips holdings would give East Timor a majority stake in the project, along with remaining partners including Australia's Woodside Petroleum and Japan's Osaka Gas.
The Rokan Block occupies 6,000 sq km (2,300 sq miles) on the Indonesian island of Sumatra.
CNOOC Ltd. announced Jan. 16 that Huizhou 32-5 oilfield comprehensive adjustment/Huizhou 33-1 oilfield joint development project has commenced production.
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.