South Asia ///
India’s biggest oil and gas producer will pay as much as $1.2 billion to buy a majority stake in a gas field off the country’s east coast, aiming to boost production as the country seeks to cut energy imports.
CGG announced that its equipment business, Sercel, has delivered four of its new-generation 508XT land acquisition systems to two seismic companies recently awarded survey work in India by ONGC and Oil India, as part of a new national seismic program commissioned by the Indian government.
Shell has started oil production from the Malikai tension leg platform (TLP), located 100-km off the coast of the Malaysian state of Sabah. Located in waters up to 500 m deep, Malikai is Shell’s second deepwater project in Malaysia, following the successful start-up of the Gumusut-Kakap platform in 2014. Malikai is expected to have a peak production of 60,000 bopd. As the company’s first TLP in the country, Malikai is an example of the strength of Shell’s global deepwater business, applying TLP expertise from decades of operations in the U.S. GOM.
Low crude prices that have been hammering oilfield service companies for the past two years might be ready to give a little back.
A drugmaker, a real estate developer and an edible oil company are among firms answering India’s call to tap undeveloped oil fields and become the newest explorers in the world’s fastest-growing energy consumer.
Oil India Limited (OIL), an upstream oil and gas public sector utility, has entered into a Memorandum of Understanding (MOU) with the University of Houston (UH), with the intent of augmenting its reserves base and maximizing recovery from its aging oilfields.
Oil & Natural Gas Corp., the largest Indian oil and gas explorer, and Hong Kong-listed United Energy Group Ltd. are among bidders for Bangladesh natural gas assets being sold by Chevron Corp., people with knowledge of the matter said.
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.
Robert Gordon University (RGU) has been awarded funding from the UK government to establish a sustainable training framework for the Indian energy sector with a focus on accelerating subsea skills development.
Expro has been awarded a contract worth over $30 million with the Hindustan Oil Exploration Company (HOEC) for Dirok gas field in India.
Oil & Natural Gas Corp.’s (ONGC) quarterly profit declined 21% as oil prices slumped and output fell.
As the world’s biggest crude producers stop short of taking action to address the global oversupply, output cuts by their largest customers are helping to mop up the glut.
KrisEnergy Ltd, an independent upstream oil and gas company, announced that the Bapex Bijoy 10 rig has commenced drilling of the Bangora-6 development well in the Block 9 production sharing contract, onshore Bangladesh.
Despite the oil industry slowdown, international oil companies are adding their presence in the city that still remains the energy capital of the world. The latest is Oil India Limited, India’s second largest public sector company after ONGC.
GE Oil & Gas has been awarded a multi-million-dollar Frame Agreement by Oil and Natural Gas Corporation Limited (ONGC), India’s largest E&P company. Under the agreement, GE will provide an estimated 55 subsea wellheads (SG5) over next three years for the operator’s offshore drilling campaign, in shallow to medium waters offshore India.
India is open to discussing a merger of some of its state-run oil producers and refiners to create a larger, stronger national firm, according to the country’s oil minister.
The USGS has assisted the government of India in the discovery of large, highly enriched accumulations of natural gas hydrate in the Bay of Bengal. This is the first discovery of its kind in the Indian Ocean that has the potential to be producible.
Expro has been awarded new contracts from India’s Oil and Natural Gas Corporation Ltd (ONGC).
Pakistan Petroleum Limited (PPL)—operator of the Gambat South Block with a 65% working interest—along with its joint venture partners, Government Holdings Private Limited (25%) and Asia Resources Oil Limited (10%), has announced a gas discovery at the Hadi X-1A exploration well in District Sanghar, Sindh.
Fugro has been awarded a geotechnical site investigation contract by ONGC India for the KG-DWN-98/2 project on the East Coast of India.