South Asia ///

Companies in the news

Steven McGinn, World Oil

Companies in the news

Oil crash spurs tycoon to write $3 billion off Cairn India

Billionaire Anil Agarwal-controlled Sesa Sterlite Ltd., which runs India’s largest onshore oilfield, took a $3-billion writedown after crude’s crash eroded the goodwill value of Cairn India Ltd.

Ophir Energy acquires four deepwater PSCs offshore Indonesia

Ophir Energy has completed the acquisition of four deepwater Production Sharing Contracts (PSCs) in Indonesia from Niko Resources .

ONGC breaks with Big Oil to invest $176 billion to increase reserves

India’s Oil & Natural Gas Corp., grappling with aging fields, is prepared to sacrifice profits by retaining a plan to pump 11 trillion rupees ($176 billion) into a search for reserves despite the slump in crude.

Yemen LNG halts production as fighting worsens security at plant

Yemen halted output and exports from the country’s sole LNG plant as fighting in the area worsens.

India's offshore MJ discovery in D6 Block set at 1.4 Tcfe

Niko Resources has received an independent resources evaluation report for the MJ Discovery in the D6 Block in India from Deloitte, an independent petroleum engineering firm. The report quantifies the discovery at 1.4 Tcfe.

Growing demand for small-mid scale LNG in Asia Pacific

SINGAPORE -- A series of factors and influences have propelled the demand for small to mid-scale LNG projects in Asia.

Aqualis Offshore completes heavy lift jackup move

Aqualis Offshore, part of Oslo-listed Aqualis ASA, has completed the marine warranty services for the dry transportation of the Valiant Driller jackup from Indonesia to India, where it will operate for ONGC.

Total, DNO keep pumping oil and gas in Yemen after airstrikes

Total and DNO said they continue to pump oil and natural gas in Yemen after Saudi Arabia and its allies bombed rebel targets in the nation.

KrisEnergy begins drilling at Rossukon-2 exploration well, Gulf of Thailand

KrisEnergy Ltd. has announced that the Key Gibraltar jack-up rig has commenced drilling of the Rossukon-2 exploration well in G6/48 in the Gulf of Thailand, where the Rossukon oil accumulation was discovered in 2009.

Texas LNG starts talks with customers in Eastern Europe, Asia

Texas LNG, a closely held company planning a $1.3 billion liquefied natural gas project in the U.S., has started talks with potential customers, targeting companies in Eastern Europe, Latin America and Asia.

Cairn Energy disputes $1.6 billion Indian tax order

Cairn Energy has instructed counsel to file a Notice of Dispute under the UK-India Investment Treaty in order to protect its legal position and shareholder interests having received a draft assessment order from the Indian Income Tax Department.

Nam Cheong sells two vessels for $58 million

Nam Cheong Ltd, a global offshore marine player and an OSV builder, has sold two vessels worth approximately $58 million to two repeat customers.

Lamprell delivers second jackup to Greatship Group

Lamprell has announced the completion of construction on a further jackup rig, the Greatdrill Chaaru, and its delivery to Greatship Global Energy Services Pte. Ltd.

Small LNG is in as oil price collapse crimps megaproject spending

Slumping energy prices are crimping the ability of suppliers to finance new export terminals, giving small, highly-focused efforts the edge over the megaprojects the industry has favored for years.

India probe into theft of files widens to more oil companies

Indian police said a dozen people have been arrested as they probe more oil company employees in a case involving the alleged sale of stolen government files.

Police trap in India snares five for selling oil ministry papers

NEW DELHI (Bloomberg) -- Police in India’s capital arrested five people for the alleged sale of stolen Oil Ministry documents to energy and consulting companies, in a night-time sting operation targeting crime close to the heart of government.

Swiber bags $310 million EPCIC contract in South Asia

SINGAPORE -- Swiber Holdings has secured its second largest contract win in the group’s corporate history - an Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract worth approximately $310 million from a national oil company in South Asia.

Bibby Offshore Singapore secures contract with Seascape

Bibby Offshore Singapore has secured a contract with subsea service provider Seascape.

Asia Pacific set for renewed interest in exploration, Wood Mackenzie says

The fall in oil prices has set the tone for a challenging 2015, says Wood Mackenzie, which will affect E&P activity across Asia Pacific’s (APAC) entire upstream sector.