East Asia ///

Indonesia's expiring production licenses valued at $10 billion

In a recent report, Indonesia’s expiring PSCs: $10 billion of potential upstream value, Wood Mackenzie valued Indonesia's expiring oil and gas production licenses or production sharing contracts (PSCs) at close to $10 billion.

Petronas achieves first gas from inaugural FLNG facility

Petronas’ first floating liquefied natural gas (FLNG) facility, PFLNG SATU, achieved the first gas milestone from Kanowit gas field, offshore Sarawak, on Nov. 14.

Next generation keen to step up as IPTC came to a close in Bangkok

The 10th International Petroleum Technology Conference (IPTC) came to a close in Bangkok today with an attendance of over 3,700 industry professionals from 51 countries.

Vallourec closes on acquisition of Tianda Oil Pipe

Vallourec has announced that it has closed on the acquisition of a majority stake (50.61%) in the Chinese company, Anhui Tianda Oil Pipe Company Limited (TOP) and thereby increased its total stake to 70.07%.

Oil and gas in the capitals

Jeff Moore, Contributing Editor

Indonesia has a new oil and gas strategy

Big Three’s shrinking in China has more to go as spending lags

China’s oil output slump shows no signs of abating as the country’s state-run energy giants hold back spending to cope with the crash in prices.

Cnooc quarterly sales drop 15% as output falls with spending

Cnooc Ltd., China’s biggest offshore oil and gas producer, posted a 15% fall in third-quarter sales as output declined with capital spending.

Saudis said to boost oil sales to China as pricing lures buyers

Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting the pricing for its supply.

Trelleborg completes supply of floatover equipment for Malaysian project

Trelleborg’s engineered products operation has successfully completed its supply of floatover equipment for the PETRONAS NC3 gas field, located in Block SK316, 200 km North of Bintulu, Sarawak in Malaysia.

Technip awarded subsea contract in Malaysia

Technip has been awarded a subsea contract by PETRONAS Carigali Sdn Bhd, (wholly owned subsidiary of PETRONAS), for the Samarang Redevelopment Project Phase 2 EOR, in Malaysia.

China crude imports rise to record high as storage expanded

China’s crude imports rose to a record as a new strategic reserve site became operational and refineries prepare to process more oil. Net oil product exports also rose near a record.

Chevron said to seek $2 billion in sale of Bangladesh assets

Chevron Corp., the U.S. oil producer divesting assets to counter an energy-price slump, is seeking about $2 billion from a sale of natural gas assets in Bangladesh, according to people familiar with the matter.

China oil output rebound seen unlikely until prices top $60

Oil may need to rally further before China’s producers make enough money to reverse a drop in output to the lowest in more than six years.

Lamprell delivers jackup rig to be deployed offshore Thailand

Lamprell (LAM), a provider of fabrication, engineering and contracting services to the energy industry, has announced the completion of construction of the Shelf Chaopraya jackup drilling rig, and its delivery to Shelf Drilling Ltd. The rig will sail within the next few days for deployment by Shelf Drilling at its drilling location, offshore Thailand.

Enping 18-1 oil field starts production, CNOOC says

CNOOC’s Enping 18-1 oil field, which lies in the Pearl River Mouth basin of the South China Sea and has an average water depth of approximately 90 m, has commenced production.

Tap Oil completes drilling of appraisal well MNA-17 in the Northern Gulf of Thailand

Mubadala Petroleum, Operator of the Manora Oil Development joint venture, has advised that drilling of the MNA-17 well, in the Northern Gulf of Thailand, has now been completed.

GE Oil & Gas wins contract for third train at BP's Tangguh LNG facility

GE Oil & Gas has been awarded a contract to supply gas turbine-driven compressors for a third natural gas liquefaction train for the Tangguh expansion having provided the original equipment for Trains 1 and 2 when the plant was first established.

Ophir starts production from Indonesia’s Kerendan field

Ophir Energy, a UK-based independent, has commenced commercial production from Kerendan field in Indonesia.

CNOOC’s Weizhou 6-9/6-10 comprehensive adjustment project starts production

CNOOC’s Weizhou 6-9/6-10 comprehensive adjustment project has commenced production, the company said Monday.

OPEC giants are too sour for top oil buyer in coveted market

OPEC’s biggest producers are playing second fiddle to smaller suppliers in a coveted corner of the oil market.