Regional News: East & SE Asia

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Biggest Oil Buyers Pick Themselves as Winners From OPEC Meeting
Friday, November 27, 2015 Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They'll emerge as winners from the group's rift over production.

Prosafe, Jurong Shipyard Agree on Flexible Delivery of Safe Zephyrus Vessel
Friday, November 27, 2015 Prosafe and Jurong Shipyard agree to a flexible delivery of the completed Safe Zephyrus accommodation vessel from the latter's yard in Singapore.

OPSB Awards Malaysia's Offshore Ophir Field WHP EPCIC Contract to Muhibbah
Friday, November 27, 2015 Ophir Production awards an engineering, procurement, construction, installation and commissioning contract for a wellhead platform for the Ophir oil field offshore Malaysia to Muhibbah Engineering.

China's Honghua to Supply Middle East Client with 3 Land Rigs for $41.5M
Friday, November 27, 2015 Honghua Golden, a unit of China's Honghua Group, signs agreement to sell three land rigs to a Middle East customer for $41.5 million.

Lundin Drills Dry Well in Block PM308A Offshore Malaysia
Thursday, November 26, 2015 Lundin Petroleum completes the Selada-1 prospect in Block PM308A offshore Malaysia as a dry well.


CIMC Raffles Holds Naming Ceremony for North Dragon Semisub in China
Thursday, November 26, 2015 CIMC Raffles holds a naming ceremony for North Sea Rig Holdings' newbuild North Dragon semisub at its Yantai Shipyard in China, while construction work continues on two other similar rigs.

PetroChina's $2.4B Sale Mixes Profits With Overhaul
Thursday, November 26, 2015 PetroChina rises to a two-week high after announcing plans to sell pipeline stakes for as much as $2.4 billion as the nationís biggest oil and gas producer seeks to meet year-end profit targets amid a drive to reform state-own enterprises.

PPL Shipyard Challenges MPD's Termination of Jackup Construction Contract
Thursday, November 26, 2015 Sembcorp Marine's unit PPL Shipyard challenges Marco Polo Drilling's termination of a jackup construction contract.

MPD Initiates Contractual Dispute Resolution Process Against PPL Shipyard
Wednesday, November 25, 2015 Singapore's Marco Polo Drilling (MPD) initiates contractual dispute resolution process against PPL Shipyard over the termination of a rig building deal.

Malaysia's Icon Offshore Receives $12.1M LOA to Supply PSV to KPOC
Wednesday, November 25, 2015 Malaysia's Icon Offshore receives a letter of award, worth $12.1 million, to provide a deepwater platform supply vessel to Kebabangan Petroleum Operating Company.

China Energy Giants Seek Last-Minute Sales in Year-End Countdown
Wednesday, November 25, 2015 China's biggest energy companies are seeking to unload assets and urging workers to cut costs in a last-minute rush to meet annual government-set growth targets as lower crude prices drag down earnings.

Introducing the New OPEC Member That Likes Lower Oil Prices
Wednesday, November 25, 2015 After defending the interests of oil-exporting nations for 5 decades, OPEC has made a surprising choice with its newest member: a country that consumes about twice as much crude as it pumps.

Indonesia's Pertamina Replaces 'Problematic People' Amid Graft Pro
Wednesday, November 25, 2015 Indonesia's Pertamina replaces 'problematic people' at its oil trade unit, according to the country's energy minister.

PETRONAS, Partners Gain from Malaysia's Production Sharing Contracts
Wednesday, November 25, 2015 Sweden's Lundin Petroleum AB reiterated the importance of Malaysia to the firm's growth strategy in Southeast Asia.

Cheap Coal Threatens LNG's Toehold in Fast Expanding Philippines
Wednesday, November 25, 2015 The Philippines is set to import LNG for the first time next year as it bids to replace fast-fading local gas supplies, but cheap coal is blowing off course Manila's vow to lift the use of cleaner fuels.

Triple Energy Updates on Plan for Yixin-1 in China's Heilongjiang Province
Wednesday, November 25, 2015 Triple Energy reports that the firm will fracc and test the Yixin-1 well in China's Heilongjiang province.

CITIC Drills Oseil-28 Development Well in Seram (Non-Bula) PSC in Indonesia
Tuesday, November 24, 2015 CITIC commences drilling at the Oseil-22 development well in Seram (Non-Bula) Production Sharing Contract in eastern Indonesia.

Indonesia's Pertamina invests $2.14B in Upstream Assets in Jan-Oct
Tuesday, November 24, 2015 Pertamina invested $2.14 billion in upstream assets from January to October this year, CEO Dwi Soetjipto says, with total CAPEX reaching $2.89 billion as of last month.

China's NDRC Approves Development of the Sanjiao CBM Project in Ordos Basin
Tuesday, November 24, 2015 Sino Oil and Gas says the Chinese authorities have approved the development plan for the Sanjiao Coal Bed Methane Project in China's Ordos Basin.

UMW Naga 8 Secures Contract from SapuraKencana to Drill Offshore Malaysia
Tuesday, November 24, 2015 UMW Oil & Gas assigns UMW Naga 8 jackup for a drilling contract with SapuraKencanca Petroleum offshore Malaysia.

KS Drilling's Unit Wins $2.8M Contract in Indonesia for KS Java Star
Monday, November 23, 2015 PT Atlantic Oilfield Services, a subsidiary of KS Energy's unit KS Drilling, wins a $2.8 million contract in Indonesia for jackup KS Java Star.

Malaysia's Sarawak Has More Oil & Gas Fields Not Monetized Yet
Monday, November 23, 2015 More than 200 discovered oil and gas fields offshore Sarawak, Malaysia have not been monetized, a PETRONAS official said, as indicated in a local media report.

KrisEnergy Secures Govt Approval for Rossukon Production Area Off Thailand
Monday, November 23, 2015 KrisEnergy secures government approval for the Rossukon Production Area in Block G6/48 in the Gulf of Thailand.

NuEnergy Completes Acquisition of Dart Energy (Indonesia) Holdings
Monday, November 23, 2015 Australia's NuEnergy completes acquisition of Dart Energy (Indonesia) Holdings, gaining control of the latter's coal bed methane assets in Sumatra and Kalimantan in Indonesia.

Bumi Armada Berhad Revenues Decline with Lower Vessel Utilization
Friday, November 20, 2015 Bumi Armada's revenues for the first 9 months of 2015 declined by 6.2%, to $371.6 million, due to the lower utilization of vessels and lower activity in its transport and installation business unit.

Thai PTT Cuts 2015 Investment Budget To $1.4 Billion
Friday, November 20, 2015 PTT has cut its 2015 estimated investment budget to $1.4 billion, mainly due to a postponement in new overseas investments.

SNC-Lavalin Bullish on India, Offsets Job Slowdown Elsewhere
Friday, November 20, 2015 SNC-Lavalin is optimistic about the upstream sector in Asia, especially India, as it seeks to offset the adverse impact of a slowdown in other regions.

Sembcorp Marine Bags MODEC's FSO Construction Contract for Culzean Field
Thursday, November 19, 2015 Sembcorp Marine bags a contract to design and build a new floating storage and offloading vessel for MODEC to be deployed to Maersk's Culzean field in the North Sea.

PPL Yet to Receive MP Drilling's Termination Notice for Jackup Construction
Wednesday, November 18, 2015 Singapore's PPL Shipyard has not receive any notice of termination from Marco Polo Drilling of the $214.3 million jackup construction contract.

Songa Offshore Dismisses Claims Submitted by DSME for Songa Equinox Semisub
Wednesday, November 18, 2015 Songa Offshore dismisses claims submitted by Daewoo Shipbuilding & Marine Engineering for the Songa Equinox semisub.

Primeline Spuds LS30-3-1 Prospect in Block 33/07 in East China Sea
Tuesday, November 17, 2015 Primeline Energy spuds the LS30-3-1 exploration well in Block 33/07 in the East China Sea.

Norshore Begins Plug and Abandonment Work for ConocoPhillips Off Indonesia
Tuesday, November 17, 2015 Norway's Norshore commences plug and abandonment work for ConocoPhillips offshore Indonesia.

Drilling Commences at WZ 12-8W-A6P1 Appraisal Well in China's Beibu Gulf
Tuesday, November 17, 2015 Horizon Oil says drilling has commenced at the WZ 12-8W-A6P1 appraisal well in China's Beibu Gulf.

Indonesia Expects Study on Abadi LNG Project to Complete by Year-End
Monday, November 16, 2015 Indonesia expects Poten and Partners to complete a study on the development plan for the Abadi gas project by year-end, a senior official of the Ministry of Energy and Mineral Resources says.

Cue Energy Secures Rig to Drill Naga Selatan-2 Well in Mahakam Hilir PSC
Monday, November 16, 2015 Cue Energy contracts rig to drill the Naga Selatan-2 exploration well in Mahakam Hilir Production Sharing Contract in Kutai Basin, Indonesia in January 2016.

Mermaid Maritime's 3Q 2015 Net Profit Up 9.2% to $16.5M, Trims Staff by 15%
Monday, November 16, 2015 Mermaid Maritime posts a 19.2 percent rise in net profit to $16.5 million for third quarter 2015, lifted mainly by its subsea business in the Middle East.

Swiber's 3Q 2015 Net Profit at $4.3M, Up from a YOY Loss of $22.9M
Monday, November 16, 2015 Singapore's Swiber Holdings posts a net profit of $4.3 million in the third quarter of 2015, up from a loss of $22.9 million in the previous year.

IEA Sees Southeast Asia Facing More Challenging Environment for Production
Monday, November 16, 2015 The International Energy Agency expects Southeast Asia to encounter a more challenging environment for oil and gas production in the coming decades.

Loyz Posts 42% Fall in 1Q FY2016 Revenue to $4M Due to Low Oil Prices
Friday, November 13, 2015 Singapore's Loyz Energy posts a 42 percent decline in revenue to $4 million for the first quarter of 2016 that ended Sept. 30 due to low oil prices.

RH Petrogas to Drill 13 Development Wells in China's Fuyu 1 Block in 4Q15
Friday, November 13, 2015 RH Petrogas plans to drill 13 development wells in Fuyu 1 Block in China's Songliao Basin in Jilin Province in the fourth quarter of this year.

Speedcast Acquires ST Teleport to Strengthen Business Role in Asia Pacific
Friday, November 13, 2015 Speedcast acquires Singapore's ST Teleport to strengthen its position as a satellite telecommunications services provider to the oil and gas sector in Asia Pacific.

PETRONAS Not Laying Off Permanent Staff Despite Current Market Gloom
Thursday, November 12, 2015 PETRONAS is not laying off permanent staff despite the current low oil price environment that has already led to massive job cuts in the petroleum industry worldwide.

China's Shouyang CBM PSC Operator FEEC Ceases Operations
Thursday, November 12, 2015 China-focused Far East Energy Corp., operator of the Shouyang coal bed methane Production Sharing Contract in Shanxi province, ceases operations.

VARD Secures Deal to Design, Build Offshore Vessel from Unnamed Client
Thursday, November 12, 2015 Vard Holdings secures a new contract to design and construct an offshore vessel for an undisclosed international customer.

RH Petrogas Issues Profit Guidance for 3Q 2015 in Low Oil Price Environment
Wednesday, November 11, 2015 RH Petrogas issues profit guidance for third quarter 2015 in the current low oil price environment.

Malaysia's Petronas Cuts State Dividend as Profit Plunges on Oil Drop
Wednesday, November 11, 2015 Petronas is slashing its dividend after its quarterly profit fell 91% on weak global oil prices

Indonesia Says Could Also Take China To Court Over South China Sea
Wednesday, November 11, 2015 Indonesia could take China to the International Criminal Court if Beijing's claim to the majority of the South China Sea and part of Indonesian territory is not resolved through dialogue.

Development Drilling at Indonesia's Madura BD Project to Commence Soon
Wednesday, November 11, 2015 Husky Energy says development drilling at Madura BD gas-condensate field offshore Indonesia will commence soon, after recent installation of a jacket and wellhead platform at the field.

Hibiscus Petroleum Plans to Acquire Hydra Energy to Grow Oil Resource Base
Wednesday, November 11, 2015 Malaysia's Hibiscus Petroleum plans to acquire 100 percent stake in Hydra Energy as it tries to grow its oil resource base.

Oilex Progresses Cambay Workover Campaign
Tuesday, November 10, 2015 Oilex Ltd successfully completes a workover on the Cambay-19z well, located on the Cambay field in Gujarat State, India.

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