Regional News: East & SE Asia

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SKK Migas Approves Ramba's Farm-out of 35% Stake in Lemang PSC to Mandala
Thursday, February 11, 2016 Indonesia's upstream oil and gas regulator SKK Migas approves Ramba Energy's farm-out of a 35 percent interest in Lemang block in Sumatra to Mandala Energy.

Mandala Acquires 2 Exploration Blocks in Sumatra, Adds to its Lemang Stake
Wednesday, February 10, 2016 Mandala Energy signs agreement to acquire two exploration blocks in Sumatra, Indonesia from Australia's Cooper Energy.

RCP Clinches Well Control Equipment Deal from Singapore Client for New Rigs
Wednesday, February 10, 2016 RCP clinches contract from a Singapore-based client to supply and install well control equipment for newbuild rigs.

Greka Warns of Cost Base Reduction in 2016
Friday, February 05, 2016 Greka Drilling Limited warns that it will take actions to reduce its cost base in 2016 as a response to the lower oil price environment.

Andalas to Acquire 30% Stake in Tuba Obi East Concession in Sumatra
Thursday, February 04, 2016 Andalas Energy and Power to acquire 30 percent stake in Tuba Obi East oil and gas concession in Jambi province, Sumatra, Indonesia.


FOE Stands Firm on Cancellation of Newbuild Semisub Contract with HHI
Thursday, February 04, 2016 Fred Olsen Energy stands firm on the cancellation of a construction contract with Hyundai Heavy Industries for a newbuild semisub.

France's Total Signs 10-Year LNG Supply Deal With China's ENN Group
Thursday, February 04, 2016 European oil major Total has agreed to supply 500,000 tons a year of liquefied natural gas (LNG) for 10 years to China's privately-run ENN Group, Total says.

SapuraKencana Secures Several Service Contracts
Thursday, February 04, 2016 SapuraKencana Petroleum Berhad's wholly-owned subsidiary companies and jointly controlled entities have been awarded contracts and contract extensions with a combined value of approximately $382 million.

HHI to Work with DHIC, CCEI on Localization of Offshore Plant Equipment
Thursday, February 04, 2016 South Korea's Hyundai Heavy Industries plans to collaborate with Doosan Heavy Industries & Construction and Center for Creative Economy & Innovation on the localization of main equipment for offshore plants.

PetroVietnam May Shut Down Fields, Trims Ouput if Oil Prices Dip Further
Wednesday, February 03, 2016 PetroVietnam considers shutting down or reducing production at its fields if crude oil prices fall below $30 a barrel.

Cue Finds Oil at Naga Selatan-2 Well in East Kalimantan's Mahakam Hilir PSC
Wednesday, February 03, 2016 Cue Energy finds oil at the Naga Selatan-2 well in the Mahakam Hilir Production Sharing Contract in Kutai Basin, East Kalimantan, Indonesia.

Petro Matad, BG Delay Mongolia Drilling
Wednesday, February 03, 2016 Petro Matad Limited and BG Group delay their drilling program in Mongolia's Block V.

Oil Seen Surging About 50% By Fourth Quarter As Supply Eases
Wednesday, February 03, 2016 Oil bulls distressed that last week's rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year.

Small Asian Firms Seize Upstream Opportunities in Weak Market
Wednesday, February 03, 2016 Small Asian companies find the prolonged weakness in global oil prices an opportune time to purchase stakes in upstream oil and gas assets.

Chevron Says Oil Leaked At Philippine Terminal, Fully Contained
Wednesday, February 03, 2016 The Philippine unit of U.S. oil major Chevron says hundreds of liters of oil leaked into the sea while it was loading fuel to a vessel at its Batangas terminal, south of the capital Manila.

Lundin Farms Out Stakes in 3 PSCs Offshore Malaysia to DYAS
Tuesday, February 02, 2016 Lundin Petroleum farms out stakes in three production sharing contracts offshore Malaysia to subsidiaries of Dutch-based DYAS.

Interra Completes Drilling at YNG 3270 Well in Myanmar's Yenangyaung Field
Tuesday, February 02, 2016 Interra completes drilling at development well YNG 3270 in the Yenangyaung oil field in Myanmar and has been temporarily shut-in pending further action with respect to reservoir stimulation.

Total, Pertamina Sign Long-Term LNG Supply Agreements
Tuesday, February 02, 2016 France's Total and Indonesia's Pertamina sign long-term sale and purchase agreements for the supply of liquefied natural gas beginning 2020.

CNOOC Flows First Oil from 2 Beibu Gulf Basin Projects in South China Sea
Tuesday, February 02, 2016 CNOOC commences production from two Beibu Gulf Basin oil projects in the South China Sea.

Ten Million Reasons Why Cheap Oil Might Hurt The Philippines
Monday, February 01, 2016 Cheap oil should be a good thing for a country like the Philippines that imports almost all of its fuel, but there are 10 million reasons why that may not be the case.

Barakah's PBJV to Carry Out T&I Work for 2 Pipeline Projects off Malaysia
Monday, February 01, 2016 Barakah Offshore's unit PBJV will undertake transportation and installation of two pipeline projects offshore Malaysia.

Indonesia's Pertamina Eyes 'At Least' 10% Stake in Inpex Gas Block
Monday, February 01, 2016 Indonesia's Pertamina tells the government it wants a stake of 'at least' 10 percent in the Masela oil and gas block currently being operated by Japan's Inpex.

Indonesia's Pertamina Targets 30% Cut To 2016 Upstream Operating Expenses
Monday, February 01, 2016 Indonesia's Pertamina has reduced its 2016 upstream operating expense target by 30 percent because of declining crude prices, the state-owned energy company's upstream director, Syamsu Alam, says.

Japan's MES Ventures into the FPSO Business
Monday, February 01, 2016 Japan's Mitsui Engineering and Shipbuilding Co. ventures into the floating production, storage and offloading business.

SKK Migas Extends Sumatra's Rengat PSC Exploration Period to November 2019
Monday, February 01, 2016 NuEnergy reveals that upstream regulator SKK Migas has extended the exploration period for the Rengat Production Sharing Contract in Sumatra, Indonesia to November 2019.

China's Energy Giant Sees Profit Sliding 70% on Oil's Slump
Friday, January 29, 2016 PetroChina Co., the country's biggest oil and gas producer, expects its 2015 profit to have fallen 60 percent to 70 percent from a year earlier because of the slump in energy prices.

Lundin Spuds Maligan Prospect in Block SB307/SB308 Off East Malaysia
Friday, January 29, 2016 Lundin spuds the Maligan prospect in Block SB307/SB308 offshore East Malaysia using the jackup West Prospero.

Australia's Red Emperor Updates on its Philippines, Georgia Assets
Friday, January 29, 2016 Australia's Red Emperor Resources updates on developments at its upstream assets in the Philippines and Georgia.

S-Oil Sees Healthy 2016 Refining Margins as Oil Demand Grows
Thursday, January 28, 2016 South Korea's S-Oil Corporation sees 2016 refining margins staying healthy and Asian refiners benefiting from growing oil demand during the year.

Trelleborg Clinches FPSO Egina Contract
Thursday, January 28, 2016 Trelleborg clinches contract for the Egina floating production, storage and offloading vessel.

Low Utilization Pressures Companies to Scrap More Offshore Rigs in 2016
Thursday, January 28, 2016 With crude oil prices languishing just above the $30 a barrel range since the beginning of 2016, market watchers expect drilling companies to scrap more offshore rigs this year.

Oil Investor Hall Sees Conditions Ripe For A Rebound In Crude
Wednesday, January 27, 2016 After a 2015 that famed oil bull Andrew Hall said "wasn't much fun" because of plunging crude prices, the chief of Astenbeck Commodities says the market is ripe for a jump as producers operate near maximum capacity while supply risks rise.

CNOOC: Kenli 10-4 Oilfield Starts Production
Wednesday, January 27, 2016 The Kenli 10-4 oilfield, located in the South of Bohai, commences production.

Keppel FELS Delivers Newbuild Jackup Halul to Gulf Drilling International
Tuesday, January 26, 2016 Keppel FELS delivers newbuild jackup Halul to Qatar's Gulf Drilling International.

CNPC, Chevron Commence Production at Chuandongbei Gas Project in Sichuan
Tuesday, January 26, 2016 CNPC says the Chevron-operated Chuandongbei sour gas project in Sichuan Basin in southwest China commences production.

SapuraKencana Cancels Deal to Acquire 3 Blocks Offshore Vietnam for $400M
Monday, January 25, 2016 Malaysia's SapuraKencana Petroleum cancels deal to acquire three offshore Vietnamese oil and gas blocks from PETRONAS Carigali for $400 million.

China's Rail Company CRRC Acquires 13.9% Stake in Singapore's Vallianz
Monday, January 25, 2016 China's state-owned rail corporation CRRC invests $16.58 million to take a 13.9 percent interest in Singapore's offshore support vessel company Vallianz Holdings.

Japan Oil Imports Plunge to Lowest Since 1998 as Demand Weakens
Monday, January 25, 2016 Japan's crude oil imports last year fell to the lowest level since 1988 as demand weakens amid a declining population and more efficient vehicles.

Lundin Finds Oil Offshore Malaysia, Spuds North Sea Well
Monday, January 25, 2016 Lundin discovers oil offshore Malaysia and spuds another well in the North Sea.

South Korea's HHI to Halt Ops at Onsan Shipyard Due to Industry Downturn
Monday, January 25, 2016 South Korea's Hyundai Heavy Industries to halt operations at its Onsan yard amid the downturn in the global oil and gas industry.

Keppel O&M Posts 4Q 2015 Net Loss of $42.5M, Updates on Brazil Contracts
Friday, January 22, 2016 Keppel Offshore & Marine posts a net loss of $42.5 million for fourth quarter 2015, down from a net profit of $200.1 million in the previous year.

Japan Lifts Nuclear Sanctions on Iran
Friday, January 22, 2016 Japan lifts sanctions on Iran, falling in line with major world powers after the United Nations atomic energy agency confirmed that Tehran had fully taken steps to curb its disputed nuclear program.

Cosco Guangdong Delivers Newbuild PSV 'Vos Partner' to European Buyer
Friday, January 22, 2016 Chinese shipyard Cosco Guangdong delivers a newbuild platform supply vessel "Vos Partner" to a European buyer.

China Drops Online Notice of Oil Rig Location After Vietnam Complaint
Friday, January 22, 2016 Chinese maritime officials remove an online notice that gives the location of a $1-billion deep-water oil rig in the South China Sea two days after issuing it.

Otto Marine's Unit to be Preferred O&M Service Provider for Port Operator
Friday, January 22, 2016 Singapore-based Otto Marine unit GO Offshore signs deal to become the preferred offshore and marine service provider for a port operator.

Lundin Sells FPSO Bertam to Malaysia's M3nergy for $265M
Friday, January 22, 2016 Sweden's Lundin Petroleum signs deal to sell FPSO Bertam, currently operating in Block PM307 offshore Peninsular Malaysia, to M3nergy for $265 million.

As Oil Slump Rocks PETRONAS, Malaysians Brace For Hard Times
Friday, January 22, 2016 When PETRONAS announces sharp spending cuts and describes a dismal outlook, it is confirmation for millions that they will struggle to make ends meet this year amid high costs.

China's CNPC Boosts Overseas Oil, Gas Production to Record High
Thursday, January 21, 2016 China National Petroleum Corp., the country's biggest oil and gas producer, boosts overseas output in countries from Central Asia to Africa to a record amid tumbling oil prices and currency fluctuations.

Polarcus is Setting Seismic Acquisition Performance Records Off Myanmar
Thursday, January 21, 2016 Polarcus is setting seismic acquisition performance records offshore Myanmar.

Sembcorp Marine Delivers Accommodation Semisub Safe Zephyrus to Prosafe
Tuesday, January 19, 2016 Sembcorp Marine delivers the accommodation semisubmersible vessel Safe Zephyrus to Prosafe.

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