Regional News: East & SE Asia
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HHI's HLV HD-10000 Joins Fleet, Cost Savings of $22M a Year Seen
Friday, February 27, 2015 Hyundai Heavy Industries' heavy lift vessel Hyundai-10000 (HD-10000) will join its fleet in March, with the newbuild likely to provide cost savings of $21.9 million annually for the firm.
MOSB to Set Up Supply Base in Mawlamyine to Serve Myanmar's Oil, Gas Sector
Friday, February 27, 2015 Myanmar Offshore Supply Base is setting up a marine supply base in Mawlamyine in Mon state to support Myanmar's oil and gas industry.
Indonesia Says Fate of Total's Mahakam Gas Block in Pertamina's Hands
Friday, February 27, 2015 Indonesia will hand full control over the Mahakam gas block in East Kalimantan province to Pertamina once its current operator's contract, held by Total SA, expires in 2017, an energy ministry official says.
Malaysia's Petronas Posts $2B Quarterly Loss, Cuts Spending On Oil Slump
Friday, February 27, 2015 Petronas reports a $2B quarterly loss and says it plans a cut in spending over the next two years due to the slump in global oil prices.
Russell: PetroChina, Sinopec Merger Makes Little Sense
Friday, February 27, 2015 The market chatter over forming a giant Chinese oil major through merging PetroChina and Sinopec has ramped up again recently, but the motivations for such a deal struggle to stand up to scrutiny.
Pacific Radiance Posts 20% Rise in 2014 Net Attributable Profit to $68.3M
Thursday, February 26, 2015 Pacific Radiance records a 20 percent gain in net attributable profit to $68.3 million, boosted mainly by its offshore support services unit.
Icon Offshore Gets Petronas Carigali's LOA to Provide OSVs on Spot Charters
Thursday, February 26, 2015 Icon Offshore receives a letter of award from Petronas Carigali for the provision of offshore support vessels in Malaysia on a spot basis.
Bumi Armada's 2014 Net Profit Dips 49.3% to $60.6M as OSV, T&I Underperform
Thursday, February 26, 2015 Bumi Armada's 2014 net profit fell by half from a year ago to $60.6 million due to lower contributions from its offshore support vessel as well as transport and installation businesses.
Manila Electric in Talks with Osaka Gas for $2B Natural Gas Project
Thursday, February 26, 2015 The Philippines' biggest power utility, Manila Electric Company, is in talks with Osaka Gas to build natural gas facilities worth about $2 billion, aiming to tie up long-term electricity supply, its chairman says.
Alam Maritim to Supply Accommodation Work Barge for Tapis EOR Project
Wednesday, February 25, 2015 Alam Maritim lands deal to provide an accommodation work barge to ExxonMobil for the Tapis enhanced oil recovery project off Peninsula Malaysia.
Vallianz Posts Net Record Profit of $20.4M in 2014, Lifted by OSV Segment
Wednesday, February 25, 2015 Vallianz Holdings' net profit rises to a record $20.4 million in 2014, almost twice the $10.3 million from a year ago, with the gains due mainly to contributions from its offshore support vessel chartering operations in the Middle East.
Some Asian Drilling Firms Plan to Carve Niches in Current Downturn
Wednesday, February 25, 2015 While the fortunes of petroleum companies tumble in line with lower oil prices, some Asian drilling contractors hope to carve niches in this adverse business climate.
Thai Bangchak Petroleum to Invest over $600M in 2015-2016
Tuesday, February 24, 2015 Bangchak will invest $610 million, mainly on exploration and production, in 2015 and 2016 as part of a plan to spend $2.76 billion in the next six years to boost its business, the Thai oil refiner says.
Coastal Contracts Lands $54M Contracts to Build OSVs for Mexican Customers
Tuesday, February 24, 2015 Coastal Contracts secures orders to build two offshore support vessels for customers in Mexico for $54.2 million.
Searcher Grants BGP Exclusive Right to Market its Seismic Data in China
Tuesday, February 24, 2015 Searcher grants BGP exclusive right to market its multi-client seismic library in China.
Thailand Puts Bidding For Oil, Gas Concessions On Hold
Tuesday, February 24, 2015 Thailand's military government will delay bidding for new oil and gas concessions indefinitely, pending an amendment to a petroleum law, Prime Minister Prayuth Chan-ocha says.
Thailand's PTT Posts Record Quarterly Loss in 4Q on Weak Oil Prices
Friday, February 20, 2015 Thailand's PTT reports its worst-ever quarterly loss as it is it by plunging oil prices.
Carnarvon Seals Divestment of Thai Oil Production Assets to Berlanga
Wednesday, February 18, 2015 Carnarvon Petroleum completes divestment of its remaining 20 percent interest in three oil production concessions in Thailand to Berlanga.
Petra Energy's Unit Secures Contract from Petronas Carigali in Malaysia
Wednesday, February 18, 2015 Petra Energy's subsidiary secures an umbrella contract to provide marine vessels to Petronas Carigali for the latter's operations off Malaysia.
Woodside Sees Slim Hope for East Timor LNG This Decade
Wednesday, February 18, 2015 Woodside expresses doubts its Greater Sunrise gas prospect could go ahead this decade, leaving it off a list of growth projects out to 2019 and beyond in its annual results presentation in a bad sign for impoverished East Timor.
Otto Energy Completes Sale of Galoc Production Co. Stake to Nido for $106M
Tuesday, February 17, 2015 Otto Energy completes sale of its interest in Galoc Production Co. to Nido Petroleum for around $106 million.
Cosco's Net Profit Falls to $21.07M in 2014, Down 50% YOY
Tuesday, February 17, 2015 Cosco reported a 50 percent decline in net profit for 2014 to $21.07 million, compared to $42.22 million in 2013.
IEA's Birol Says Middle East Militancy Poses 'Major Challenge' For Oil
Tuesday, February 17, 2015 The rise of the Islamic State (IS) in Iraq and Syria presents a major challenge for the investment necessary to prevent an oil shortage in the next decade, the IEA's top economist says.
Keppel FELS Holds Naming Ceremony for Newbuild Jackup Maersk Integrator
Monday, February 16, 2015 Keppel FELS holds naming ceremony for Maersk Integrator, with the newbuild jackup chartered to Statoil for development drilling in Gina Krog field offshore Norway.
Eni's Goliat FPSO Leaves HHI's Ulsan Yard in South Korea for the North Sea
Monday, February 16, 2015 Eni's Goliat FPSO, the world's cylindrical floating production storage and offloading facility, leaves South Korea's Ulsan yard for the North Sea.
RH Petrogas Gets Clearance to Develop North Klalin Field in West Papua
Monday, February 16, 2015 SKK Migas approves RH Petrogas' plan to develop the North Klalin gas and condensate field in Kepala Burung Production Sharing Contract in West Papua, Indonesia.
Sembcorp Marine Posts 2014 Net Profit of $412M, Revenue Rises 6% to $4.2B
Monday, February 16, 2015 Sembcorp Marine posts a net profit of $412.2 million in 2014, up slightly from a year ago, while revenue rose 6 percent to $4.2 billion.
Government Approves Change in Equity Stakes in Blocks 105, 120 Off Vietnam
Monday, February 16, 2015 The Vietnamese government has endorsed changes to the equity stakes held in Blocks 105 and 120 off Vietnam after Neon Energy's withdrawal from the permits.
Southeast Asian NOCs Adapt to Lower Oil Prices
Thursday, February 12, 2015 Southeast Asian national oil companies are dealing with uncertainties caused by the current slump in oil prices, with several re-prioritizing their objectives despite rising energy demand.
Cooper Energy Continues to Drill Bunian-3 Oil Development Well in Sumatra
Thursday, February 12, 2015 Cooper Energy continues to drill the Bunian-3 oil development well in the Sukananti KSO, South Sumatra, Indonesia.
Boskalis Takes Delivery of White Marlin Semisub Heavy Transport Vessel
Thursday, February 12, 2015 Boskalis takes delivery of the White Marlin semisub heavy transport vessel from a yard in Guangzhou, China.
South Korea's SK Innovation Inks PSCs for 2 Blocks in South China Sea
Wednesday, February 11, 2015 CNOOC inks production sharing contracts with South Korea's SK Innovation for Block 04/20 and Block 17/03 in the South China Sea.
Dyna-Mac Secures $48M Topside Module Fabrication Contract for East Hub FPSO
Tuesday, February 10, 2015 Dyna-Mac secures a letter of award, worth $48 million, from an affiliate of Bumi Armada to construct six topsides modules for the floating production, storage and offloading vessel to be deployed at the East Hub field off Angola.
Cosco Shipyard Delivers 2 Platform Supply Vessels
Tuesday, February 10, 2015 Cosco Shipyard completes delivery of two newbuild platform supply vessels.
Wan Zulkiflee Wan Ariffin to Succeed Shamsul Azhar Abbas as Petronas CEO
Tuesday, February 10, 2015 Malaysia Prime Minister Najib Razak appoints Wan Zulkiflee Wan Ariffin as president and CEO of Petronas to succeed Shamshul Azhar Abbas.
PBJV Receives LOA from Petronas Carigali for Work Offshore Malaysia
Monday, February 09, 2015 PBJV receives a letter of award from Petronas Carigali for work offshore Malaysia.
China Energy News: Sinopec to Lead New Shale Oil Research Center
Monday, February 09, 2015 China Energy News reports that state energy group Sinopec will lead a new national shale oil research and development center.
Douglas-Westwood: 'Opportunities for IOCs in China?'
Monday, February 09, 2015 Douglas-Westwood discusses opportunities for international oil companies in China.
Keppel, Sembcorp Marine Refute Allegations of Bribe Payments in Brazil
Monday, February 09, 2015 Keppel and Sembcorp Marine refute allegations that they paid bribes to secure contracts in Brazil's energy sector.
BMT Opens Environmental Testing Facility in Indonesia for Oil, Gas Clients
Monday, February 09, 2015 BMT opens an environmental testing facility in Jakarta, Indonesia to serve the local oil and gas industry.
State Media: China's Deepsea Gas Find Holds Over 3.5 Tcf Reserves
Monday, February 09, 2015 A deepsea natural gas find in the northern part of the South China Sea has certified proven reserves exceeding 3.53 trillion cubic feet (100 billion cubic meters), making it one of China's biggest offshore finds, Chinese state television reports.
ABB Lands $50M Electrical System Supply Contract for Petronas’ PFLNG2
Friday, February 06, 2015 ABB lands a $50 million contract from JGC to supply the electrical system for Petronas’ PFLNG2.
Indonesia's Petroleum Sector Remains Attractive for Investment
Friday, February 06, 2015 Indonesia remains an attractive place for foreign companies to invest in the petroleum sector, according to a top GE Oil & Gas executive.
IEV Closes Out Work on Topside, Jacket for D21 Project Off Eastern Malaysia
Thursday, February 05, 2015 IEV Holdings closes out work on jacket and topside for D21 project off eastern Malaysia.
Timor-Leste Reviews Investment Rules, Plans New Bid Round
Thursday, February 05, 2015 The government steps up efforts to further develop Timor-Leste's petroleum industry, including improving the investment regime and opening up onshore acreage for exploration bidding.
Wecom Engineering Clinches $5.8M Supply Contract
Thursday, February 05, 2015 Wecom Engineering, a unit of Technics Oil and Gas' associate firm Norr Offshore, clinches a $5.8 million contract from a Singapore customer.
CNOOC to Raise 2015 Net Production by 10-15%, Cuts Capex by 26-35%
Wednesday, February 04, 2015 CNOOC plans to raise net production by 10 to 15% in 2015 to 475 to 495 million barrels of oil equivalent, while cutting capex by 26 to 35%.
Swire Pacific Offshore Operations Adds Pacific Liberty to its PSV Fleet
Wednesday, February 04, 2015 Swire Pacific Offshore Operations adds Pacific Liberty to its platform supply vessel fleet after naming ceremony at Japan Marine Union Corp.'s Maizuru Shipyard in Japan.
Wood Mackenzie: What to Watch for in 2015 in APAC's Upstream Sector
Wednesday, February 04, 2015 Wood Mackenzie comments on what to watch for in Asia Pacific's upstream sector in 2015.
POE Completes Sale of 50% Stake in Thailand's L53/48 Concession to Sea Lion
Tuesday, February 03, 2015 Pan Orient Energy completes sale of 50 percent stake in Concession L53/48 in Thailand to Sea Lion, while Talisman is expected to take over a 51 percent operating interest in Indonesia's East Jabung block from the firm by April.
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