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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.
Half of the spending will go toward E&P activities as the country aims to increase domestic oil and gas production.
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.
The state-owned explorer faces challenges to produce gas from its UD-1 discovery in the Bay of Bengal.
The country aims to increase domestic oil and gas exploration, development and production, while reducing its reliance on imports, to meet growing demand.
Posco Daewoo Corp. has awarded the McDermott International, and Baker Hughes, a GE company (BHGE), consortium a contract for phase two of the Shwe gas field development offshore Western Myanmar.
The contract is for the subsea umbilicals risers and flowlines (SURF) and gas export pipeline (GEP) facilities of the Abadi LNG project in Indonesia.
TechnipFMC (NYSE: FTI) said May 31 it has been awarded a subsea contract by CNOOC Ltd. for the Liuhua 16-2, 20-2 and 21-2 oilfield joint development project in the South China Sea, at water depths ranging from 380 m (1,246 ft) to 430 m (1,410 ft).
The standstill agreement between Prosafe and COSCO related to Safe Nova and Safe Vega has recently been extended until June 14, 2018.
Petrofac’s Engineering and Production Services (EPS) East division has secured a project support and engineering services contract with Husky Oil China Ltd., the company said on May 29.
Reuters reported six people died and more than 20 were injured when a crane collapsed onto a section of the platform at a Samsung Heavy Industries shipyard, South Korea's Yonhap News Agency reported.
Chinese manufacturers are unable to make equipment such as semisubmersible drilling platforms used in waters deeper than 1,000 feet and robots used in waters deeper than 500 meters, Reuters reported.
The $1-billion rig, which was at the center of a fierce diplomatic stand-off between the countries in 2014, had moved into an area of the Gulf of Tonkin over which, Vietnam said, the two countries were still “executing delineation discussions.”
Both orders are part of PetroChina's furnace procurement program that BHD bid on. Aggregate order value under the program now totals about US$0.8 million, or more than 5.3 million renminbi.
The barge carrying the Alba B3 topside, jacket and pile sleeves will meet Heerema Marine Contractors’ crane vessel Thialf early next year at its final offshore destination in the Gulf of Guinea.
Shell committed to the ambitious three-year sale plan following the decision to acquire BG Group in 2015 and the latest announcements bring its total asset sales to around $27 billion.
Royal Dutch Shell has introduced gas to its 490-meter long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on June 13.
U.S. private equity firm Lone Star is betting on two large unconventional gas projects in China that Austrailia's Sino Gas & Energy is developing.
A successful bid would give Harbour access to a recently revived company with a low cost of gas production and stakes in LNG in the Asia-Pacific, where demand is soaring.
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.
Chansin Treenuchgron, 57, will take up the company’s helm on Aug. 31 after Tevin reaches the compulsory retirement age of 60. Chansin will have a term of 20 months, PTT said in a statement.
An ONGC official said the drillship—identified as Sagar Bhushan on ONGC’s website—was undergoing maintenance at state-run Cochin Shipyard on the country’s southwest coast.
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.
Christina Verchere will replace Mariana Gheorghe, who will leave after 12 years at OMV Petrom and before her contract was due to end in April next year.
China-based Greka Drilling Ltd. has been awarded two new drilling contracts worth up to US$9.1 million.
China has responded to $50 billion in tariffs imposed by U.S. President Donald Trump with additional tariffs on U.S. energy products, which analysts considered a surprise.
The national oil company said in a statement on June 4 that it was seeking a federal court declaration of the Petroleum Development Act 1974 (PDA), the law applicable for the petroleum industry in Malaysia.
Iran's oil exports hit 2.7 million barrels per day (MMbbl/d) in May, the oil ministry's news agency SHANA reported on June 2, a new record since the lifting of international sanctions on Tehran in 2016, and despite the threats of fresh U.S. sanctions.
The move would not affect the country’s 22 existing exploration permits, and any oil and gas discoveries from firms holding those licenses could still lead to mining permits of up to 40 years.
Pursuing a joint project would be extremely complex and sensitive, as sharing oil and gas reserves could be seen as endorsing the other countries’ claims.