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Regional News: East & SE Asia

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Indonesia's Pertamina Says Oil Drop Hits Profits, Growth Plans
Thursday, December 18, 2014 Indonesia state oil and gas firm Pertamina sees a more than 20-percent fall in its net profit for 2014.

Sources: China Ends Near Decade of Rising Iraq Crude Oil Orders
Thursday, December 18, 2014 Chinese oil firms will keep the amount of crude they buy from Iraq unchanged in 2015 for the first time in almost a decade.

Court Reviewing Arrest Warrant Application for KOGAS CEO
Thursday, December 18, 2014 South Korean prosecutors say a court is reviewing an arrest warrant application for the chief executive of state-run Korea Gas Corporation, Jan Seok-hyo.

Bumi Armada Seals $1.18B FPSO Contract for Indonesia’s Madura BD Field
Friday, December 12, 2014 Bumi Armada signs a contract, worth $1.18 billion, to supply a floating production, storage and offloading vessel to Husky-CNOOC Madura Ltd. for Indonesia’s offshore Madura BD field.

Gas2Grid Gets More Time for Malolos Oil Development in the Philippines
Friday, December 12, 2014 Gas2Grid discloses that the Philippine Department of Energy has granted a two year technical moratorium for Service Contract 44 in the Philippines.


Indonesia Energy Regulator Sees 2015 Upstream Spending At $22B
Friday, December 12, 2014 Indonesia expects spending in its upstream oil and gas sector to reach $22.2 billion in 2015, a senior official at the upstream regulator says, 13% less than the amount budgeted for this year.

Otto Energy Accepts Nido's $108M Offer to Acquire Galoc Production Company
Friday, December 12, 2014 Otto Energy accepts Nido Petroleum's $108 million offer to acquire its 100 percent stake in Galoc Production Company.

LM Handling Completes First Mooring Project in China at Enping 24-2 Field
Thursday, December 11, 2014 LM Handling successfully completes its first Chinese mooring project at Enping 24-2 oil field in South China Sea.

Malaysia's Petronas Says Open to Selling Assets in Africa
Thursday, December 11, 2014 Petronas says it is ready to divest certain assets in Africa if growth prospects are limited.

Interra Terminates Acquisition of Indonesia's PT Benakat Barat Petroleum
Thursday, December 11, 2014 Interra Resources terminates planned acquisition of equity interests in Indonesia's Benakat Barat Petroleum.

Icon Offshore Bags $12.3M Contracts to Supply OSVs for Work Off Malaysia
Thursday, December 11, 2014 Icon Offshore bags $12.3 million contracts for the provision of offshore support vessels for work offshore Malaysia.

CNOOC, KUFPEC Ink PSCs for 3 Offshore Blocks in South China Sea
Thursday, December 11, 2014 CNOOC inks production sharing contracts for three offshore blocks in the South China Sea with Kuwait's KUFPEC.

SOCO Optimistic About Production Potential of Vietnam's Offshore TGT Field
Wednesday, December 10, 2014 ERC Equipoise assesses that the Te Giac Trang field in Block 16-1 in Vietnam's Cuu Long Basin can produce over 100,000 barrels of oil per day.

Malaysia's SapuraKencana 3Q Profit Up 42% on New Business
Tuesday, December 09, 2014 SapuraKencana Petroleum says net profit increased 41.9 percent during its third quarter thanks to newly-acquired upstream units.

Hydrogen Appoints Mirzan Mahathir as Director of its Malaysian Companies
Tuesday, December 09, 2014 Mirzan Mahathir joins the board of directors of global recruitment firm Hydrogen Group's Malaysian companies as a majority shareholder.

Octanex Gets Funds from SIP for Joint Investment in Southeast Asia Projects
Tuesday, December 09, 2014 Octanex secures funding from Sabah International Petroleum to jointly pursue upstream projects in Malaysia, Indonesia and the Philippines.

Cosco Guangdong Completes Installation of Upper Hull of EDrill-3 Tender Rig
Tuesday, December 09, 2014 Energy Drilling reports Cosco Guangdong has completed installation of the upper hull of EDrill-3 tender rig at its yard in southern China.

CMHI Cuts Steel for MTR-3 Tender Rig, Mermaid Ausana Vessel in China
Tuesday, December 09, 2014 China Merchants Heavy Industries holds steel cutting ceremony for Mermaid Maritime's MTR-3 tender rig and Mermaid Ausana subsea vessel at its yards in China.

ASL Marine Accepts Cancellation of 2 Newbuild OSV Contracts
Monday, December 08, 2014 ASL Marine Holdings accepts cancellation of two shipbuilding contracts for offshore support vessels scheduled for delivery next year.

Hassan Basma Steps Down as Bumi Armada's CEO
Monday, December 08, 2014 Hassan Basma steps down as CEO of Bumi Armada, with Chan Chee Beng taking over as acting CEO.

Early Contract Termination for Mermaid Maritime's MTR-2 Tender Assist Rig
Monday, December 08, 2014 Mermaid Maritime reports the early cancellation of a contract for the MTR-2 tender assist rig to operate in Indonesia.

Interra Drills CHK 1195 Development Well in Myanmar's Chauk Oil Field
Monday, December 08, 2014 Interra Resources commences drilling at CHK 1195 development well in Chauk oil field in Myanmar.

Ophir Energy Inks PSC for Block AD-03 in Myanmar's Rakhine Basin
Monday, December 08, 2014 Ophir Energy inks production sharing contract with the Myanmar Ministry of Energy for Block AD-03 in the Rakhine Basin offshore Myanmar.

SapuraKencana Clinches $459M Contracts for Work in Asia Pacific, Africa
Monday, December 08, 2014 SapuraKencana Petroleum clinches $459 million contracts for work in Asia Pacific and Africa.

IEV Spuds the CLS-1TW Development Well in West Java's Pabuaran KSO Block
Friday, December 05, 2014 IEV Holdings spuds the CLS-1TW development well in Pabuaran KSO block in West Java, Indonesia.

Wood Group Secures Exxon Malaysia Contract
Friday, December 05, 2014 Oilfield services firm Wood Group wins a multi-year contract with ExxonMobil Exploration and Production Malaysia.

Indonesia's Energi Mega to Refinance $170M Loan, Considers Acquisitions
Friday, December 05, 2014 Indonesia's PT Energi Mega Persada hopes to refinance $170 million worth of loans by February next year and is considering acquisitions to raise its production, its top executive says.

Australian's Bet On China Gas Begins To Pay Off
Friday, December 05, 2014 An Australian entrepreneur's bet on natural gas acreage in a Chinese desert cast off by Chevron is set to reap far bigger returns than expected, a director of the firm behind the project says.

Further Delays in Contract Signing for Madura Field FPSO
Friday, December 05, 2014 Bumi Armada and Husky-CNOOC agree to delay signing of the contract for a floating production, storage and offloading vessel for the Madura BD field to Dec. 10.

Carnarvon Disposes off Remaining Oil Assets in Thailand for $58.2M
Thursday, December 04, 2014 Carnarvon Petroleum inks deal to dispose off its remaining oil production assets in Thailand to Berlanga Group for $58.2 million.

2H Offshore Expands Malaysia & Australia Presence, May Recruit Engineering
Thursday, December 04, 2014 2H Offshore expands offices in Malaysia and Australia to meet demand from Asia Pacific’s subsea oil and gas industry, with the firm likely to strengthen its team of engineering professionals.

Hoidi Bags Rig Leg Fabrication Contract from CMHI for a Newbuild Jackup
Thursday, December 04, 2014 Hoidi International bags a rig leg fabrication contract from China Merchant Heavy Industry for a newbuild jackup.

Keppel FELS to Deliver Jackup Jindal Explorer to Star Drilling Shortly
Wednesday, December 03, 2014 Keppel FELS prepares to deliver Jindal Explorer to India's Star Drilling after holding a naming ceremony for the jackup at its yard.

Interra Gets More Time to Acquire Indonesia's PT Benakat Barat Petroleum
Wednesday, December 03, 2014 Interra Resources reveals the timeline for the acquisition of Indonesia's PT Benakat Barat Petroleum has been extended to Dec. 10.

Marine Contracting Moves Cendor MOPU to Batam in Indonesia for Upgrade Work
Tuesday, December 02, 2014 Marine Contracting transports the Cendor Mobile Offshore Production Unit from the Cendor field offshore Malaysia to Batam, Indonesia for upgrade work.

CNOOC Flows First Gas at Panyu Project in South China Sea
Tuesday, December 02, 2014 CNOOC commences gas production at the Panyu 34-1/35-1/35-2 project in the eastern South China Sea.

PTSC M&C Delivers HRD Process Platform for ONGC's Heera Field Off India
Tuesday, December 02, 2014 PTSC M&C delivers the Heera Redevelopment Process Platform for the Heera field offshore India to AFCONS in a ceremony at its fabrication yard in Vung Tau, Vietnam.

MCG's Nordic Bahari to Commence 2D Seismic Survey Offshore Indonesia
Monday, December 01, 2014 MultiClient Geophysical's Nordic Bahari vessel will commence 2D seismic surveys offshore Indonesia in December.

KDM Marine Plans to Develop Subsea Excavation Business in Asia Pacific
Monday, December 01, 2014 KDM Marine International plans to develop its subsea excavation business in Asia Pacific.

FEEC Gets Extension on Maturity Date of Facility Agreement with SCB
Monday, December 01, 2014 Far East Energy Corp., operator of the Shouyang coalbed methane production sharing contract in China's Shanxi province, receives a further extension of the maturity date of its facility agreement with Standard Chartered Bank.

Petronas Posts 3Q 2014 Net Profit of $4.39B, Down 12% YOY
Monday, December 01, 2014 Malaysia's Petronas posts a 12 percent decline in net profit to $4.39 billion for the third quarter of 2014, while revenue falls 1 percent to $23.4 billion.

Loyz Names Former Premier Oil CEO Simon Lockett as Deputy Chairman
Monday, December 01, 2014 Loyz Energy names former Premier Oil CEO Simon Lockett as deputy chairman of the Singapore upstream energy group.

Indonesian Government Appoints Dwi Soetjipto as Pertamina's CEO
Monday, December 01, 2014 Indonesia appoints Dwi Soetjipto to head Pertamina, replacing acting CEO Muhamed Husen.

Sino G&E Commences Gas Sales from Pilot Production Program in Ordos Basin
Monday, December 01, 2014 Sino Gas & Energy commences gas sales after finalizing pilot testing program for the Sanjiaobei and Linxing blocks in the Ordos Basin in China's Shanxi province.

Indonesia to Name One of Three Candidates for Top Post in Pertamina
Friday, November 28, 2014 Indonesia is set to appoint one of three shortlisted candidates to head Pertamina shortly.

Southeast Asia E&P Draws New Entrants as Some IOCs Exit, Pare Presence
Thursday, November 27, 2014 As some independent oil firms relinquish or reduce their upstream asset holdings in Southeast Asia, new players have capitalized on these opportunities to establish a regional presence.

Indonesia's Graft Watchdog Targets Energy Sector
Thursday, November 27, 2014 Indonesia's Corruption Eradication Commission (KPK) plans a sector-wide audit of the country's oil and gas industry in a push to clean up the energy sector and restore investor confidence in Southeast Asia's biggest crude producer.

Mermaid Maritime's FY 2014 Net Profit Rises 193.4% to $45.27M
Thursday, November 27, 2014 Mermaid Maritime's financial year 2014 net profit soars 193.4 percent to $45.27 million from $15.42 million a year ago.

Otto Energy Secures Extension of Service Contract 55 in the Palawan Basin
Wednesday, November 26, 2014 Otto Energy receives government approval for an extension of Service Contract 55 in the Palawan Basin, offshore Philippines by a year.

PGS Moves Asia Pacific HQ to Malaysia
Wednesday, November 26, 2014 PGS relocates its regional headquarters in Asia Pacific to Kuala Lumpur, Malaysia from Singapore as the firm restructures its business activities.

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