South Asia ///
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.
SINGAPORE -- Keppel Singmarine, a wholly-owned subsidiary of Keppel Offshore & Marine, has secured a contract from New Orient Marine, a subsidiary of Luxembourg-based Maritime Construction Services, for an ice-class multi-purpose vessel worth about $211.95 million (S$265 million).
SINGAPORE -- Ezra Holdings' wholly owned subsidiary London Marine Consultants (LMC), Ezra’s FPSO Turret Design outfit, has been awarded a contract by Sembcorp Marine’s subsidiary Jurong Shipyard of Singapore, to supply an external turret mooring system for the Libra field’s Extended Well Test (EWT) FPSO vessel.
HOUSTON -- Atwood Oceanics has announced that one of its subsidiaries has entered into an agreement to provide drilling services with the jackup rig Atwood Mako.
AHMEDABAD, India -- Woodside has executed a Memorandum of Understanding (MoU) with Adani Enterprises Ltd. The MoU was signed at a ceremony in Gujarat, attended by senior company representatives and Australia’s Minister for Trade and Investment.
Pramod Kulkarni, World Oil
Damn the oil prices, full speed ahead
LONDON (Bloomberg) -- The first tanker to ship LNG from BG Group Plc’s $20.4 billion project on Australia’s east coast is sailing to Singapore where it will dock Jan. 15. The Methane Rita Andrea, owned by the London-based company, is carrying a cargo that will help meet the annual 3 million metric tons of LNG that the Energy Market Authority, the regulator in the Asian city-state, agreed in 2008 to import over 10 years from BG.
PARIS -- CGG has completed processing of the Bade FALCON Airborne Gravity Gradiometer (AGG) multi-client survey it recently conducted within the Papua Foreland basin. CGG acquired over 28,000 sq km of FALCON AGG data over onshore PSC, JSA and open acreage in a highly underexplored region of West Papua along trend from multi-Tcf gas fields and recent oil discoveries in Papua New Guinea.
SINGAPORE -- Keppel Singmarine, a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured two contracts worth a total of about $51.99 million (S$65 million).
GAUTENG, South Africa -- SacOil Holdings, through its subsidiary Mena International Petroleum (Mena) has announced the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore Egypt.
HONG KONG -- CNOOC has made a mid-to-large sized natural gas discovery in the South China Sea. The Lingshui 25-1 structure is located in the northeast of Ledong Sag in the Qiongdongnan basin of the South China Sea, with an average water depth of about 980 m.
BEIJING, China -- By the end of 2014, Changqing Oilfield produced 25.04 million tons of crude and 38.15 Bcm of natural gas, totaling 55.45 million tons of oil equivalent, a net increase of 3.5 million tons of oil equivalent over the last year.