NYK, Pertamina Ink Energy Transport MOU
As demand for energy transportation, especially liquefied natural gas (LNG), is expected to increase in Indonesia, NYK and PT Pertamina International Shipping (PIS), a wholly owned subsidiary of PT Pertamina (Persero) agreed to a memorandum of understanding (MoU) for energy transportation.The framework of the deal sees Pertamina, the largest oil and natural gas corporation in the state, and NYK in a strategic partners in energy transportation and covers ownership and management.
Asia: Pertamina, Petronas Join Forces
Indonesian state-owned energy company PT Pertamina and Petroliam Nasional Berhad (Petronas) of Malaysia have signed a Memorandum of Understanding (MoU) to develop oil and gas business – upstream and downstream, not only in Indonesia or Malaysia but also in other countries.As per MoU, Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas' Indonesian fields of Jabung and Ketapang, said a Reuters report quoting Pertamina sources.Meanwhile…
Russian Oil Firm Signs Initial Exploration Deal with South Sudan
Russia's Zarubezhneft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan's petroleum minister said on Tuesday.The company was awaiting more information on the blocks from the Petroleum Ministry before starting exploration, Petroleum Minister Ezekiel Lol Gatkuoth told Reuters.Other foreign firms active in South Sudan's oil industry include China National Petroleum Corporation (CNPC), Malaysia's Petronas and India's Oil and Natural Gas Corporation (ONGC Videsh).The minister said the country's oil production had risen to 135,000 barrels per day
ONGC May Consider Selling Stakes in State Firms to Fund HPCL Deal
India's top explorer Oil and Natural Gas Corporation may consider selling its stake in other state firms to partly fund its acquisition of state-run Hindustan Petroleum Corp Ltd, its chairman D. K. Sarraf said. ONGC owns a near 14 percent stake in state-run Indian Oil Corp and a near 5 percent stake in GAIL which the company could consider selling, he told a news conference. "There are several ways of funding, we can raise funds from market, then we have some stocks that we can sell," Sarraf said, adding that the acquisition could happen by December.
SapuraKencana Petroleum bags $ 215 mln Triple Contract
SapuraKencana Petroleum Berhad (“SapuraKencana”) has been awarded new contracts by clients with a combined value of approximately USD215 million (approximately RM889 million, based on USD/MYR exchange rate of USD1: RM4.14). A consortium of SapuraKencana TL Offshore Sdn. Bhd. and SapuraKencana HL Sdn. Bhd. has been awarded a contract by Oil and Natural Gas Corporation Limited (ONGC) in relation to the B127 Cluster Pipeline RTR Project. The scope of work consists of engineering…
ONGC to Invest $5 bln to Develop India's Eastern Gas Asset
India's Oil and Natural Gas Corporation said it will unveil an investment of around $5 billion by the end of March to develop a major gas asset in the east, with a view to tapping higher gas prices. The asset, which the state-owned company acquired in 2005 under a swap agreement with UK's Cairn Energy Plc, can produce up to 17 million metric standard cubic metres per day (mmscmd) of natural gas and 75,000 barrels of oil per day by 2020. The level of output will make it ONGC's second biggest hydrocarbon asset in India, D.K.
Indian Reforms to Unlock $40 bln of Oil & Gas
New gas price policy for deep water and difficult areas. India said on Thursday it hoped to unlock gas and oil resources worth almost $40 billion by simplifying licensing rules and offering price incentives to recover gas from difficult offshore fields. Energy demand in India far outstrips consumption, but regulated low prices for gas from prolific but challenging deepwater fields have deterred investment in the sector. Under the reforms, companies will have more freedom to set the price of gas from new discoveries and existing finds not yet in production.
Swan, EXMAR Partner for India’s First FSRU Terminal
EXMAR has entered into a binding Term Sheet with Swan Energy Limited for the joint development and operation of the Jafrabad LNG Port project, to be located in the State of Gujarat, India. The Jafrabad LNG Port will be a 5 million tons per annum (MTPA) LNG receiving terminal, with one jetty-moored Floating, Storage and Regasification Unit (FSRU). The two partners have the firm intention to expand the terminal to 10 MTPA, through the deployment of a second FSRU. Swan secured all necessary permitting for the project and the concession agreement is ready for execution.
Lamprell Delivers Jackup Rig to Greatship
Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd. Greatdrill Chaaru has been designed according to the LeTourneau Super 116E (Enhanced) Class design. The rig’s construction was undertaken on a fast-track basis, completed 18 months after initial steel cutting. The naming ceremony was held at Lamprell’s Hamriyah facility in the UAE on February 9. Lamprell said Greatdrill Chaaru is due to sail to its drilling location in India within the next few days…
Lamprell Delivers Drilling Rig to Dev Drilling
The Lamprell Group delivers its 12th Super 116E jackup drilling unit. Lamprell has announced the completion of construction on the jackup rig Jindal Pioneer and its delivery to Dev Drilling Pte Ltd of Singapore, a D. P. Jindal Group Company. The contract for the Jindal Pioneer rig was signed in January 2013 and this is the second rig with the LeTourneau Super 116E (Enhanced) Class design which Lamprell has delivered to this client. This latest rig has been delivered following the completion of the first rig…
