South Asia ///
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.
India’s burgeoning demand for liquefied natural gas is dictating how many tankers make it to Europe, the world’s dumping ground for the fuel.
India is offering global oilfield service providers starved of new contracts a $27-billion lifeline as the government’s ambition to cut fuel imports drives fresh investment.
BUDAPEST, Hungary -- MOL Group made a new oil and gas discovery in the MOL-operated TAL Block in Pakistan, the company said.