Regional News: East & SE Asia

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Maersk Drilling Acquires Newbuild Jackup from Hercules Offshore for $190M
Friday, May 27, 2016 Maersk Drilling acquires a newbuild jackup from Hercules Offshore for $190 million, with the rig to head for the North Sea to commence work on the Culzean gas field.

Malaysia's ICON Posts Revenue of $12.8M in 1Q 2016, Down 18.5% YOY
Friday, May 27, 2016 Malaysia's offshore service vessel provider ICON Offshore posts an 18.5 percent year-on-year fall in revenue for first quarter 2016 to $12.8 million due to lower fleet utilization and charter rates.

CNPC Plans Backdoor Listing of Engineering Arm Amid Shakeup
Friday, May 27, 2016 China National Petroleum Corp., the country's biggest oil and gas producer, plans a backdoor listing of its engineering assets through a Shanghai-listed petrochemical material supplier and processor it controls.

Indonesia Awards North Kalimantan's Offshore East Ambalat PSC to Pertamina
Friday, May 27, 2016 Indonesia awards the production sharing contract for North Kalimantan's offshore East Ambalat block that was relinquished earlier by Chevron to state-owned PT Pertamina.

Govt: Vietnam's Jan-May Crude Oil Exports Drop 20.6% YOY
Friday, May 27, 2016 Vietnam's crude oil exports during January-May fell 20.6 percent from the same period last year to an estimated 3.06 million tons, or 148,000 barrels per day (bpd), the government says.


Inpex, MHI Ink Memorandum on Joint Study of Technological Challenges
Thursday, May 26, 2016 Inpex and Mitsubishi Heavy Industries ink memorandum agreeing to jointly study solutions for various technological challenges in the energy sector.

India's ONGC Reports 12% Rise In Q4 Profit, Beating Estimates
Thursday, May 26, 2016 Oil and Natural Gas Corp, India's biggest oil explorer, reports a surprise 12 percent rise in 4Q net profit, helped by a one-off gain.

PETRONAS Extends Contract to Supply LNG to China's JOVO Group
Thursday, May 26, 2016 PETRONAS extends a contract to supply liquefied natural gas to China's JOVO Group to at least 2023.

Sino G&E Continues to Derisk China Ordos Basin Gas Development Project
Thursday, May 26, 2016 Sino Gas & Energy continues to derisk the Ordos Basin gas development project in China, with its first offshore remittance of gas sales proceeds.

Mubadala Petroleum Hits Oil in Thai Gulf Well, Declares Find Uncommercial
Thursday, May 26, 2016 Test results at the Sri Trang-1 well in the Northern Gulf of Thailand confirm the presence of oil in uncommercial quantities.

PETRONAS Denies Plans to Sell Upstream Assets to Russian Party
Wednesday, May 25, 2016 PETRONAS denies plans to sell upstream oil and gas assets to Russian party.

Exxon Says Crude Output At Indonesia's Cepu Block Could Reach 200,000 Bpd
Wednesday, May 25, 2016 Crude oil output from Exxon Mobil's Cepu block in Indonesia could reach 200,000 barrels per day (bpd), up from 185,000 bpd at present, if the government approves an increase, a company spokesman says.

BP Indonesia Cuts Investment Budget For Tangguh Train 3 LNG Project
Wednesday, May 25, 2016 BP cuts its investment budget for the Tangguh Train 3 LNG project in Indonesia to between $8 billion and $10 billion, from $12 billion previously, according to a company official.

Primeline to Commence Arbitration Against CNOOC Over China's Offshore Block
Wednesday, May 25, 2016 Primeline Energy to commence arbitration proceedings against joint venture partner CNOOC under the provisions of the petroleum contract for Block 25/34 in East China Sea.

Sembcorp Marine Dismisses EIG's Allegations on Sete Brasil Investment
Wednesday, May 25, 2016 Sembcorp Marine dismisses allegations by EIG Management Co. that the latter was misled by the firm and its unit Jurong Shipyard to invest in Sete Brasil.

CNPC, ENH to Cooperate on Oil & Gas Projects in Mozambique
Tuesday, May 24, 2016 China National Petroleum Corp. (CNPC) and Mozambique's Empresa Nacional de Hidrocarbonetos (ENH) sign oil and gas cooperation agreement.

Thai PTTEP Says Keen To Buy Stake In Myanmar Gas Field From Chevron
Tuesday, May 24, 2016 PTT Exploration and Production Pcl (PTTEP), Thailand's largest oil and gas explorer, says it was keen to buy a stake in Yadana gas field in Myanmar from Chevron Corp.

SMOE Delivers Ivar Aasen Field's Platform Deck to Det norske
Tuesday, May 24, 2016 SMOE delivers the platform deck for the Ivar Aasen field in the North Sea to Det norkse, with sailaway from Singapore to Norway planned for early June.

Malaysia's UMW O&G Incurs a Loss Before Tax of $16.6M in 1Q 2016
Tuesday, May 24, 2016 UMW Oil & Gas incurs a loss before tax of $16.64 million in the first quarter of 2016, down from a profit before tax of $10.33 million in the previous year.

Sinopec Targets 15Bcm Annual Shale Gas Production Capacity In Chongqing
Monday, May 23, 2016 Sinopec is targeting annual shale gas production capacity of 15 billion cubic metres and annual shale gas output of 10 bcm in the southwestern city of Chongqing by 2020.

China's Cheaper Coal Seen Slowing Switch To Cleaner Natural Gas
Friday, May 20, 2016 China's effort to promote natural gas over coal to cut pollution is facing resistance from buyers who prefer cheaper to cleaner.

Keppel O&M, Rosneft & MHWirth Set Up Singapore Incorporated JV
Friday, May 20, 2016 Keppel Offshore & Marine sets up a Singapore incorporated joint venture company with Russia's Rosneft and Norway's MHWirth for the design and engineering of mobile offshore drilling units.

Malaysia's DNeX Oilfield Receives LOA from PETRONAS Carigali
Friday, May 20, 2016 Malaysia's DNeX Oilfield Services receives a letter of award from PETRONAS Carigali for oilfield services.

Woodside Reports Higher Contingent Resource from 2 Myanmar Discoveries
Friday, May 20, 2016 Woodside Petroleum reports an 83 million barrels of oil equivalent (MMboe) increase in contingent resource to 4,481 MMboe from its two recent discoveries offshore Myanmar.

PETRONAS' 1Q 2016 Profit After Tax Falls 60% YOY to $1.1B
Thursday, May 19, 2016 Malaysian national oil company PETRONAS posts $1.1 billion in profit after tax for first quarter 2016, down 60 percent from $2.8 billion recorded in the same period last year.

Gazprom, PTT Sign MOU to Cooperate in Oil and Gas Industry
Thursday, May 19, 2016 Gazprom signs a memorandum of understanding with Thailand's national oil company PTT for cooperation in the oil and gas industry.

Russell: China's Surging Crude Oil Imports For Storage May Ease
Wednesday, May 18, 2016 China appears to be stockpiling crude oil at a faster pace than the market had expected, taking advantage of low prices but perhaps also pulling forward its demand for imported crude.

KOGAS, PDPDE Sign MOU to Build Gas Pipelines in Indonesia for $600M
Wednesday, May 18, 2016 Korea Gas Corp. (KOGAS) signs a memorandum of understanding with PT Perusahaan Daerah Pertambangan dan Energi (PDPDE) South Sumatra to build gas pipelines in Indonesia for $600 million.

Mubadala Spuds Sri Trang-1 Prospect in Thailand's Offshore G1/48 Concession
Wednesday, May 18, 2016 Mubadala Petroleum spuds the Sri Trang-1 prospect in G1/48 concession in the Gulf of Thailand with Atwood Orca.

PETRONAS' PLNG SATU Heads to Malaysia's Kanowit Gas Field Off Sarawak
Wednesday, May 18, 2016 PETRONAS' first floating liquefied natural gas facility PLNG SATU heads for Kanowit gas field offshore Sarawak, Malaysia from Daewoo Shipbuilding & Marine Engineering Co.'s Okpo yard in South Korea.

Malaysian Contractor UMW Oil & Gas Cuts 300 Jobs
Tuesday, May 17, 2016 Malaysia's UMW Oil & Gas Corp. cuts 300 jobs as it streamlines the workforce amid the downturn in oil prices.

IEV Mobilizes for T&I Work on Shell's Malikai TLP Offshore Sabah
Tuesday, May 17, 2016 IEV Malaysia makes preparation to transport and install Shell's Malikai Tension Leg Platform offshore Sabah, Malaysia.

Japan Energy Spending Cuts Add Urgency to Securing Future Supply
Tuesday, May 17, 2016 Energy companies in Japan are slashing investments by more than one-third following the collapse in commodity prices, increasing pressure on Prime Minister Shinzo Abe's government to supplement exploration budgets.

Cosco, KS Energy May Sell KS Orient Star 2 if Offer Covers Building Cost
Tuesday, May 17, 2016 Cosco and KS Energy are entitled to sell newbuild KS Orient Star 2 to a third party if either firm receives an offer covering the building costs.

China Grants Environmental Approval To Russia-China Gas Pipeline
Tuesday, May 17, 2016 China grants an environmental clearance to the Chinese section of the Russia-China natural gas pipeline.

Santos Spuds AAL-4Z Appraisal Well in Indonesia's Offshore NW Natuna PSC
Monday, May 16, 2016 Australia's Santos spuds AAL-4X appraisal well in Northwest Natuna production sharing contract, off Indonesia with the jackup Raniworo.

China Helping Balance Oil As Thirsty Refiners Rely On Old Fields
Monday, May 16, 2016 China's tumbling crude production amid record-high demand from its oil refineries is helping tighten a global market recovering from a glut.

Malaysia's MISC Completes Acquisition of Gumusut-Kakap Semi-FPS from EPV
Monday, May 16, 2016 Malaysia's MISC completes acquisition of 50 percent stake in Gumusut-Kakap Semi-Floating Production System from E&P Venture Solutions for $445 million.

Goldman Surprised By Oil Market's Flip To Deficit On Supply Cuts
Monday, May 16, 2016 The global oil market has flipped to a deficit sooner than Goldman Sachs Group Inc. had expected.

Chevron Thailand Says To Cut 800 Staff, Cut Costs By $500M
Monday, May 16, 2016 The Thai unit of U.S. oil firm Chevron plans to cut 800 staff this year as it looks to cut costs by half a billion dollars to weather the sharp fall in global energy prices and weaker demand.

Vallianz Secures $210M Contracts to Supply 13 OSVs to ME NOC
Monday, May 16, 2016 Vallianz Holdings secures $210 million contracts to supply 13 offshore support vessels to a Middle Eastern national oil company, bringing its order book to a record $1.2 billion.

Malaysia's Gas Generators Bags a $4.4M Contract from PTS Resources
Friday, May 13, 2016 Malaysia's Tanjung Offshore says its unit GGM has bagged $4.42 million contract to supply, deliver, install, test and commission a battery system for PTS Resources.

Cosco Nantong to Delay Delivery of KS Orient Star 2 to End 2017
Friday, May 13, 2016 Cosco Nantong agrees to delay delivery of newbuild jackup KS Orient Star 2 to KS Drilling to end 2017.

Japan Oil Firms Eye Smaller Investments Amid Low Oil Price
Friday, May 13, 2016 Japanese oil companies are planning to cut spending on exploration and refining over the next few years as the plunge in crude prices since 2014 hammers their balance sheets and refining margins.

InterOil Shareholders Nominate 5 Independent Directors To Board
Friday, May 13, 2016 InterOil Corp's former chief executive, Phil Mulacek, and other shareholders nominated five independent directors to the company's board.

Hydro Group Signs Deals with Asia Pacific Business Partners
Friday, May 13, 2016 Hydro Group signs deals with Asia Pacific business partners as it continues strategic growth in the region, including in the energy sector.

Singapore's KHMO Inks MOU with Iran Marine Fund for Iranian O&G Projects
Friday, May 13, 2016 Singapore's Kim Heng Marine & Oilfield (KHMO) inks a memorandum of understanding with state-owned Iran Marine Fund to potentially set up a strategic partnership for Iranian offshore marine and oil and gas projects.

EMAS Energy Bags $8M Contract for Work in the Gulf of Thailand
Thursday, May 12, 2016 EMAS Energy bags an $8 million contract to support oil major on well stimulation and well plugging activities in the Gulf of Thailand.

No Big Bang, But Quiet Reforms Reshaping China's Oil And Gas Sector
Thursday, May 12, 2016 Expect no radical "big bang" in China's shake-up of its giant state-run energy firms, but a series of experimental and incremental steps that Beijing has quietly embarked on may still bring meaningful change to an economically crucial sector.

Kunlun Energy Seeks To Sell Upstream Assets And Buy Tangshan LNG
Thursday, May 12, 2016 Kunlun Energy, a unit of China National Petroleum Corp., plans to sell upstream assets and may buy an LNG terminal from its parent as the company shifts focus to gas distribution, Chairman Huang Weihe says.

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