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Energy revolution and politics took center stage during a forum in Houston this week.
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.
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).
Israel’s Ratio Oil Exploration signed a long-awaited deal on Sept. 4 to search for oil and gas in the Philippines, a spokesman for Philippines President Rodrigo Duterte said.
The company said it will provide maintenance services, modifications and shutdown support as part of the contract that covers Shell’s onshore facilities in Batangas and offshore assets in the Malampaya Field near Palawan Island.
The contract was awarded to CNPC subsidiary BGP Inc.
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.
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.
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.
Guyana has put planned oil auctions on hold as the impoverished South American country works to establish a Department of Energy to oversee the energy boom, Minister of State Joseph Harmon said on Sept. 24.
While the company sold assets in Thailand and Indonesia a few years ago, Hess COO Greg Hill says Southeast Asia still plays a key role in its portfolio.
Saudi's Aramco Trading Company (ATC) expects to increase its oil trading volume to 6 million barrels per day (MMbbl/d) in 2020, 50% higher than current levels, the company's top official said on Sept. 24.
United Energy Group said on Sept. 24 it would buy Kuwait Energy for up to $651 million as the Hong Kong-listed upstream oil and gas company aims to enter the Middle East and North Africa markets.
Widyawati, a former human resources director at the company, is the third CEO at Pertamina in just three years.
Malaysia has appointed Ahmad Nizam Salleh as the new chairman of state-owned oil company Petroliam Nasional Bhd (Petronas) effective immediately, the prime minister's office said on August 1.
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.
U.S. energy giant ConocoPhillips has asked Indonesia's energy ministry to extend its operations in the Corridor natural gas block after its contract ends in December 2023, a ministry official said.
China included LNG for the first time in its list of proposed tariffs on Aug. 3, the same day that its biggest U.S. crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute
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.