South Asia ///
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 halted output and exports from the country’s sole LNG plant as fighting in the area worsens.
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.
SINGAPORE -- A series of factors and influences have propelled the demand for small to mid-scale LNG projects in Asia.
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 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 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, 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 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 Ltd, a global offshore marine player and an OSV builder, has sold two vessels worth approximately $58 million to two repeat customers.
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.
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.
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.
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.
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 has secured a contract with subsea service provider Seascape.
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.
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
Tethys Petroleum’s wholly owned subsidiary, TethysAralGaz, has received permission from Kazakhstan' s Ministry of Energy to extend the Kyzyloi Gas Production Contract for another 15 years, from June 14, 2014, to Dec. 31, 2029.
YANTAI, China -- Jereh has successfully completed the construction of China’s first shale gas liquefaction plant in Sichuan, China, with a capacity of 2.47 MMcfd of LNG, the company has announced.