Asia Pacific
Discoveries
Malaysia’s Petronas Discovers Oil at Indonesia’s Hidayah-1 Exploration Well
The well tested at about 2,100 barrels of oil per day with good crude quality, Petronas said in a statement.
Investment , Liquefied Natural Gas (LNG) , Midstream
Macquarie Capital Launches LNG Project Development Platform
WaveCrest Energy will initially focus on Latin American and Asian markets, helping enable a switch to natural gas, Macquarie Capital said.
Field Development , Subsea
TechnipFMC Snags Another Multimillion-dollar Subsea Contract
TechnipFMC’s latest contract, with state-owned Petronas, covers the development of 10 deepwater wells and their tieback to the Limbayong FPSO unit offshore Malaysia.
Earnings , Field Development
Oil Search Focuses on Alaska Stake Sale after Eking Out Profit for 2020
Oil Search’s main challenge this year is to sell a 15% stake in its $3 billion Pikka oil project in Alaska.
Crude Oil
US, Canadian Crude Exports to India Surge
In January, oil from the US and Canada accounted for 11% of India’s imports.
Discoveries
CNOOC Makes Large Oil, Gas Discovery in Bohai Bay
The discovery well was tested to produce an average of about 1,980 barrels of crude oil and 5.25 million cubic feet of natural gas per day.
Exploration & Production
Malaysia’s Petronas Awards Block SB405 to ConocoPhillips
The firm said the award of the block was expected to bolster exploration activities off the coast of Sabah state.
Acquisitions & Divestitures , Trends , Mergers
Energy A&D Transactions from the Week of Feb. 10, 2021
Here’s a snapshot of recent energy deals including Northern Oil and Gas’ expansion into the Marcellus Shale with a $250 million acquisition from India’s Reliance plus Japanese trading house Sumitomo’s U.S. shale exit.
Discoveries
Thailand’s PTTEP Announces Largest-ever Gas Discovery in Malaysia
The discovery is based on the appraisal of Lang Lebah-2 in the Sarawak SK 410B project.
Field Development
Papua New Guinea, Total Sign Agreement for Delayed Papua LNG Project
The agreement would stick to terms agreed in April 2019, PNG Prime Minister James Marape said.