South Asia ///

Keppel acquires Cameron's offshore rigs business

Keppel Offshore & Marine USA has completed acquisition of Cameron's offshore rigs business, which comprises the LETOURNEAU jackup rig designs, rig kit business, and aftermarket services for $100 million.

CNOOC, Roc sign PSCs for South China Sea blocks

China National Offshore Oil Corporation (CNOOC) has signed two production sharing contracts (PSCs) with Roc Oil (China) Company (ROC) for Blocks 16/07 and 03/33 in the South China Sea.

Katalyst acquires SpectrumData’s seismic data management division in Asia-Pacific

Katalyst Data Management has acquired the Perth-based oil and gas data management division of SpectrumData Pty Ltd.

Keppel secures second liftboat order at $85 million

Keppel FELS has secured a contract from Crystal Heights to build a high specification liftboat worth $85 million.

Oil bulls’ will broken as roiled economies pose risk to growth

Speculators retreated from bullish oil bets at the fastest pace since 2012 on mounting concern that economic turmoil in Europe and Asia will prolong a supply glut.

BG reports first oil from India’s Mukta-B platform

BG India achieved first oil production from Mukta-B (MB), a four-legged wellhead unmanned platform in the offshore Bombay basin, on July 1.

Bibby Offshore Singapore successfully delivers subsea projects to Asia Pacific

Bibby Offshore’s Asian division, Bibby Offshore Singapore (BOS), has expanded its foothold in the Southeast Asian oil and gas sector by securing a series of contracts in the first half of 2015.

Billionaire seeks BHP-style conglomerate in Vedanta deal

Billionaire Anil Agarwal’s move to merge his two Indian units will create a national natural resources group to compete with BHP Billiton Ltd. and Vale SA.

Aqualis Offshore signs contract with ONGC

Aqualis Offshore, part of Aqualis ASA, has been reappointed by United India Insurance Company to provide marine warranty services to the Oil and Natural Gas Corporation Limited (ONGC) offshore India.

IEA cuts natural gas growth outlook as Asian demand falters

Global natural gas use will rise at a slower pace than previously forecast amid lower-than-expected growth in Asian demand, said the International Energy Agency, cutting its outlook for a third consecutive year.

Amec Foster Wheeler awarded LNG contract in Timor-Leste

Amec Foster Wheeler has been awarded a pre-FEED (front-end engineering design) contract by the government of Timor-Leste for the proposed Beaço LNG plant.

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.