East Asia ///

CGG wins multi-year dedicated center contract for Brunei Shell Petroleum

PARIS -- CGG announced that it has been awarded a contract by Brunei Shell Petroleum to operate a dedicated processing center (DPC) at its Seria office in Brunei Darussalam.

China's CNPC buys stake in $22-billion Abu Dhabi oil venture

China National Petroleum Corp. bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6% of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity.

SOCO reports approval of Te Giac Trang field development plan in Vietnam

SOCO, an international oil and gas E&P company, announces that the Hoang Long Joint Operating Company has received from the Government of the Socialist Republic of Vietnam the formal approval of the updated Full Field Development Plan (FFDP) for the Te Giac Trang (TGT) field, offshore southern Vietnam.

OPEC's oil curbs grant Russia's Urals a rare ticket for South Korea

The biggest oil producers in the Middle East are helping crude from Western Siberia boldly go where it’s rarely gone before.

Japanese energy companies see LNG as cornerstone fuel

Japanese gas consumption hit record levels in January. Tokyo Gas reported that usage in the capital city reached over 60 MMcmg.

Fugro acquires REM Etive IRM support vessel to service Southeast Asia contracts

Fugro has secured its continued utilization of high performance offshore IRM vessel, REM Etive, and has finalized a purchase agreement at conditions significantly more beneficial than a renewed charter agreement, with owner Solstad.

Bell Geospace introduces Malaysian multi-client FTG program

The multi-client FTG Program includes airborne 3D Full Tensor Gradiometry (FTG) and magnetic survey data that will be undertaken over offshore Peninsular Malaysia, Sarawak and Sabah.

Global Maritime completes suitability survey for world’s second-largest semisubmersible

Global Maritime Consultancy & Engineering, a provider of offshore marine warranty, dynamic positioning and engineering services, has completed a suitability survey for the world’s second largest semisubmersible, the Xin Guang Hua, in advance of her maiden voyage.

ICON Engineering and ENRA Group form JV for Asian wellhead platforms, marginal facility developments

ICON Engineering Pty Ltd, headquartered in Perth, and Malaysian-based ENRA Group Berhad have announced the formation of a jointly owned incorporated Joint Venture, ENRA ICON Sdn Bhd, based in Kuala Lumpur, to target undeveloped Asian oil and gas fields using ICON’s range of minimal facility, wellhead platforms and self-installing production facilities.

West African oil floods to Asia in latest sign of OPEC’s impact

West African oil producers will next month send the most crude to Asia in at least five years, the latest sign of how refineries in the world’s biggest demand region are scouring the world to replace supplies cut by OPEC’s Middle East producers.

Wood Group secures new contract with Hess in Malaysia

Wood Group has been awarded a five-year contract with Hess Exploration & Production Malaysia.

Shell to sell its stake in Thailand’s Bongkot field

Shell has reached an agreement with KUFPEC Thailand Holdings Pte Limited, a subsidiary of Kuwait Foreign Petroleum Exploration Company, for the sale of subsidiary companies Shell Integrated Gas Thailand Pte Limited and Thai Energy Co Limited, which together hold a 22.222% equity stake in Bongkot field, and adjoining acreage offshore Thailand consisting of Blocks 15, 16 and 17 and Block G12/48, for $900 million.

PetroChina warns profit may drop to record low on oil’s plunge

PetroChina, the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80%, putting it on pace to report a record-low profit.

Russia wrests crown of top China oil supplier from Saudi Arabia

Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market.

Oil demand at risk as China reins in buyers that bought less

Demand from some of the most coveted oil buyers may slow this year because they didn’t purchase all that they could in 2016.

China’s Cnooc raising spending for first time since oil’s plunge

Cnooc Ltd. plans to raise capital spending for the first time since crude began its crash in 2014 as China’s biggest offshore oil and gas producer prepares for life after the slump and a second year of falling output.

Asia-Pacific’s upstream holds M&A opportunities worth $40 billion

Asia-Pacific's upstream sector holds up to $40 billion worth of opportunities in 2017 as oil majors continue to divest mature and mid-life assets in the region, according to a research by Wood Mackenzie.

China’s inescapable oil slide is a record-breaking OPEC gift

OPEC’s campaign to prop up oil prices is getting unlikely support from its biggest customer.

Saudis said to cut oil to China, South Asia as others spared

Saudi Arabia was said to cut February crude sales to China and southern Asian nations, while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers.

Petronas' PFLNG SATU reaches first gas milestone, offshore Sarawak

PETRONAS’ first floating liquefied natural gas facility, PFLNG SATU moored by SOFEC, Inc.’s external turret has achieved an industry breakthrough with the successful production of its first drop of LNG from Kanowit gas field, offshore Sarawak on Dec. 5, 2016.