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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.
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.
The country is offering 67 discovered small fields in 46 contract areas, including 26 onshore, 18 shallow-water and two deepwater areas.
IKM Subsea Singapore signed a contract with PTTEP for their appraisal campaign offshore in Myanmar, the company said on April 3.
Petrofac said April 3 it has received a letter of award from Vedanta Ltd. for its Raageshwari deep gas field development project located in Barmer, Rajasthan, India.
Petrofac Ltd. has been awarded a contract worth $265million for the development of the Marmul Polymer Phase 3 (MPP3) project in southern Oman, the company said on March 29.
TechnipFMC said March 26 it has landed three separate engineering, procurement, construction and installation (EPCI) contracts offshore Malaysia, the Gulf of Mexico (GoM) and Israel.
U.S. engineering and construction company McDermott International plans to bid for $5 billion in contracts in the next few months in Asia Pacific as the region’s offshore oil and gas sector recovers, company executives said March 20.
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.
Production has resumed at an initial rate of about 4,000 barrels of oil per day, the company said. Oil output from the array of Kutubu complex fields is expected to be restored gradually through April.
Santos said April 3 it would "engage with" Harbour Energy after receiving a $10.4 billion takeover offer from the U.S. company, its fourth unsolicited bid since August 2017.
The plans are part of the state energy firm’s efforts for clean fuel production to account for half of its total energy supply by 2023.
The move to tackle projects comes in the wake of the 2014 oil price crash, which devastated the region's oilfield services sector after producers sharply cut back spending on oil and gas exploration.
The company didn’t disclose the value of the deal.
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.
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.
Indonesia’s Pertamina said on Aug. 16 that tax issues related to importing crude oil into the Southeast Asian country could scupper plans by the state oil firm to take stakes in two energy blocks controlled by Russia’s Rosneft.
Chairman Manuel Pangilinan told reporters he was looking to discuss plans to resume PXP’s stalled Reed Bank project in the hotly contested waterway with the Philippine government.
Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said July 12, as the government prepares to offer new blocks to investors in bidding in December.
The country’s oil and gas output has been stagnant for years while the nation’s fuel demand is rising with its economic expansion, hitting federal finances with an import bill worth billions of dollars.