Malaysia won't stop South China Sea exploration, despite China protests says PM
Anwar Ibrahim, Malaysia's Prime Minister, said that the country would not stop oil and gas exploration on the South China Sea in spite of Beijing's claims that Malaysia had infringed on its territory. Anwar, who is currently in Russia on an official visit, stated that Malaysia's exploration was within its own territory, and it wasn't meant to be provocative towards China. Anwar stated in a Vladivostok televised news conference that "we will of course have to operate within our waters in order to secure an economic advantage.
Britain announces that the Trans-Pacific Trade Agreement will come into effect by December 15
The British Government announced on Thursday that its agreement to join Comprehensive and Progressive Agreement for Trans-Pacific Partnership will enter into effect by December 15th this year, after receiving the final ratification needed. CPTPP, or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, is a free-trade agreement signed in 2018 by 11 countries: Australia, Brunei (Burma), Canada, Chile, Japan Malaysia, Mexico New Zealand, Peru Singapore, Vietnam. The UK is the sole European member of CPTPP, and it was the first country to join the agreement since its creation.
Chinese Seismic Vessel Returns to Waters off Vietnam Amid Virus 'Distraction' Charges
A Chinese ship embroiled in a standoff with Vietnamese vessels last year has returned to waters near Vietnam as the United States accused China of pushing its presence in the South China Sea while other claimants are pre-occupied with the coronavirus.Vietnamese vessels last year spent months shadowing the Chinese Haiyang Dizhi 8 survey vessel in resource-rich waters that are a potential global flashpoint as the United States challenges China's sweeping maritime claims.On Tuesday, the ship, which is used for offshore seismic surveys…
Asia LNG Spot Prices Drop to Multi-year Low
Asian liquefied natural gas (LNG) spot prices dropped to multi-year lows on Tuesday with at least one cargo being sold into Northeast Asia below the psychological barrier of $4 per million British thermal units (mmBtu).Gas prices are tumbling globally as new projects sanctioned when prices were higher ramp up output just as economic growth slows. A milder than usual winter in North Asia is also curbing demand.Low spot prices will particularly hit companies which purchase LNG through long-term contracts, selling on to end-users at market prices, traders said.
Southeast Asia Bullish on OFS Market
Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, said Rystad Energy.According to Norwegian energy research firm, the growth will be driven by a handful of new mega-projects across Malaysia, Myanmar and Vietnam, according to the latest tally of project commitments in Southeast Asia by the Norwegian energy research and consulting firm.New final investment decisions (FIDs) in 2021 are expected to sound the starting gun for big contract awards in Vietnam…
Petronas Completes 3rd LNG Break Bulking STS Transfer
Petronas LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (Petronas), has completed its second liquefied natural gas (LNG) cargo through its break bulking ship-to-ship (STS) transfer to two buyers.The LNG break-bulking STS transfer took place in Brunei Bay, Sabah, Malaysia. It is the first for Petronas in expanding its customer base by providing solutions to two buyers, said the national oil and gas company.According to a report in Bernama, the delivering vessel, Seri Bijaksana, transferred 80,000 m3 of LNG to LNG vessel…
China, Philippines: 'Bigger Step' Possible Offshore
Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned himself as a friend of Beijing but has come under growing pressure at home to push back against China's maritime assertiveness.The visit comes amid a recent rise in tension on multiple fronts, with Chinese vessels challenging energy assets and sea boundaries of Malaysia, Vietnam and the Philippi
BSP Contracts AqualisBraemar
Oil & natural gas company Brunei Shell Petroleum Company Sdn Bhd (BSP) has awarded AqualisBraemar a frame agreement to conduct rig inspection services for the operator.The agreement is valid for three years with an option to extend the contract for additional periods of three times one year, said the Norway-based global company that provides, through its subsidiaries and associates, consultancy services to the energy, marine and insurance sectors.Oslo-listed AqualisBraemar – a result of the recent unification between Aqualis Offshore and Braemar Technical Services – will provide rig inspection services…
Transition to a Hydrogen Future Has Begun
There is a growing international consensus that clean hydrogen will play a key role in the world’s transition to a sustainable energy future, said Noé van Hulst, who chairs the High-Level Advisory Panel for the International Energy Agency (IEA)’s forthcoming hydrogen study.Hulst, the Hydrogen Envoy for the Ministry of Economic Affairs & Climate Policy, The Netherlands, said that it is crucial to help reduce carbon emissions from industry and heavy transport, and also to provide long-term energy storage…
Petrofac Secures Brunei Contract
Oilfield services provider Petrofac and its partner Serikandi Oilfield and Services Sdn Bhd, have secured a multi-annual Engineering Design Services contract to support Brunei Shell Petroleum (BSP) and Brunei LNG (BLNG) in Brunei.Petrofac and partner Serikandi will provide engineering across all phases of the asset lifecycle for the entire portfolio of onshore and offshore assets for BSP and BLNG. All engineering and design work will be undertaken in Brunei, with the team located at offices in Kuala Belait.Mani Rajapathy…
ASEAN Adopts Oil Spill Contingency Plan
International Maritime Organization (IMO) technical assistance and institutional support has been instrumental in the recent adoption of the Association of Southeast Asian Nations (ASEAN) Regional Oil Spill Contingency Plan.IMO said that the plan was adopted by the 24th ASEAN Transport Ministers Meeting, held in Bangkok, Thailand (8 November). The Regional Oil Spill Contingency Plan provides for a mechanism whereby ASEAN Member States can request and provide mutual support in response to any oil spills.It also ensures a common understanding and effective integration between affected and assisting ASEAN Member States…
Newbuild Kreuz Challenger Mobilized for Brunei Shell Contract
Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger, as part of its seven-year contract with Brunei Shell Petroleum Company Sdn. Bhd. (BSP).The contract, which runs until 2022, includes supporting BSP with inspection, repair and maintenance services to be carried out on offshore oil and gas structures in Negara Brunei Darussalam's territorial waters.Typically located in water depths of up to 80 meters, these include drilling platforms, production stations…
Philippines Eyes Exploration Deal with China in S.China Sea
The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday. In February, the two countries agreed to set up a special panel to work out how to jointly explore for offshore oil and gas in areas both sides claim, without needing to address the touchy issue of sovereignty. "We're trying to see if we can achieve an agreement, hopefully within the next couple of months…
China Says to Have "Prudent" Oil Exploration with Philippines
China will prudently advance cooperation with the Philippines on joint oil and gas exploration in the South China Sea, China's top diplomat State Councillor Wang Yi said on Wednesday after meeting his Philippine counterpart. Any potential deals between Manila and Beijing on energy exploration in the disputed waterway should be agreed with a company and not the Chinese government, a senior Philippine official said earlier this month. China claims most of the South China Sea, a key trade route and home to areas that are believed to hold large quantities of oil and natural gas.
Philippines, China Mull South China Sea Energy Cooperation
The Philippines on Friday identified two areas in South China Sea where joint exploration for oil and gas may be undertaken with China, including one in territory that both sides have argued over for years. The two countries have agreed to set up a special panel to work out how they can jointly explore in part of the hotly contested waters without having to address the issue of sovereignty, something experts say would be extremely complex. Philippine President Rodrigo Duterte's spokesman, Harry Roque, said the areas being considered were sites covered by service contracts 57 and 72…
Sir Bob Reid Joins Belltree Board
Sir Bob Reid is to take up a new role as nonexecutive director of Belltree, a specialist oil and gas consultancy based in Edinburgh. The former chair and chief executive of Shell UK will advise and support Belltree with its continued growth into international markets. During his 36-year tenure at Shell, he spent much of his time overseas including posts in Brunei, Nigeria, Borneo, Thailand, Eastern Europe and Australia. Reid is also a former chair of the British Railways Board, Sears, London Electricity, ICE Futures Europe and its associated Clearing House, ICE Clear Europe.
New Senior Management at Kreuz Subsea
Singapore registered subsea solutions provider Kreuz Subsea has named AJ Jain chief executive officer and Balaji Bhashyam as chief operating officer. Jain brings to the CEO role more than 25 years of executive industry experience, having held a number of leadership positions in the oil and gas industry. His previous posts include managing director at Harkand Group where he was responsible for operations in North America and Africa. Prior to Harkand, he was part of the senior management team at Dynamic Industries International LLC responsible for international operations.
Philippines, China to Explore for Oil & Gas Near Disputed Waters
The Philippines said on Thursday it was pursuing a long-delayed oil and gas exploration project with Chinese state-owned entity CNOOC Ltd and a Canada-listed company in an area near disputed waters in the South China Sea. Energy Secretary Alfonso Cusi said the Philippine government was also looking for a "win-win solution" with other South China Sea claimants, including China, to pave the way for oil and gas exploration within contested waters. China claims most of the South China Sea, through which about $5 trillion in ship-borne trade passes annually, while Brunei, Malaysia, Taiwan and Vietnam also have claims.
Repsol Suspends Drilling on Vietnam Oil Block Disputed by China
Spain's Repsol said it had suspended oil drilling in a block off Vietnam, where the prospecting in South China Sea waters claimed by China had infuriated Beijing and brought Chinese pressure on Vietnam to stop. Tension has been growing between Vietnam and China over energy development in the waterway, where extensive Chinese claims are challenged by five Southeast Asian countries and disputed by the United States. Repsol's chief financial officer, Miguel Martinez, said work had been suspended off Vietnam, according to the transcript of a conference call with analysts last week.
Drilling in Disputed South China Sea may Resume
Drilling for oil and natural gas on the Reed Bank in the South China Sea may resume before the end of the year, a Philippine energy official said on Wednesday, as the government prepares to offer new blocks to investors in bidding in December. The Philippines suspended exploration at the Reed Bank, which it calls Recto Bank, in late 2014, as it pursued international arbitration over territorial disputes. The bank is in waters claimed by China. Ismael Ocampo, director at the Department of Energy's Resource Development Bureau, told reporters the agency expected the suspension to be lifted in December.
