Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
BP is forecasting that renewables will become the fastest growing fuel source by 2035, nearly quadrupling over the next 20 years, according to the UK oil giant’s latest Energy Outlook. Image from BP…
Java Offshore has gained a majority stake in Asian Geos Sdn Bhd, a specialist offshore geotechnical and geophysical service provider within the Asia Pacific market from both Gardline Geosciences and Helms Geomarine Sdn Bhd in a recent acquisition deal…
Nido Petroleum is set to drill its Galoc-7/7ST appraisal well in Block C1 SC 14 offshore the Philippines, starting in March. The firm has agreed a one-well drilling contract for the Odfjell Drilling operated ultra deepwater drillship Deepsea Metro I for the work…
Houston’s Ensco agreed to an amendment with Samsung Heavy Industries (SHI) for the ENSCO DS-10 drillship construction contract that will see the delivery extended again until 31 March 2019. Ensco said it may elect to take delivery of…
Italian contractor Saipem has inked a contract for use of Solstad Offshore's construction support vessel (CSV) Normand Installer as part of offshore installation works on the Jangkirk floating production unit (FPU) offshore Indonesia. The Jangkrik FPU is a part of Jangkrik Complex Project…
China’s CNOOC has revealed its 2017 business strategy and development plan that includes a total of five new projects set to come onstream, and a capex that could reach US$10.2 billion (RMB 70 billion). Image from CNOOC…
MISC Berhad has started the conversion of floating storage, and offloading unit (FSO) Benchamas 2 in a ceremony at the MMHE West Yard, Pasir Gudang, Malaysia. FSO Benchamas 2 will be a conversion of the Bunga Kelana 5, previously operated by AET…
Höegh LNG has put in orders for several newbuild floating storage and regasification unit (FSRU) with two Asian shipyards, South Korea’s Samsung Heavy Industries (SHI), and Hyundai Heavy Industries (HHI). The deal with SHI includes one firm FSRU (FSRU #10)…
China's CNOOC started production at its Enping 23-1 oil fields, in the Pearl River Mouth Basin of the South China Sea. The oil fields have an average water depth of approximately 90m, in which CNOOC holds 100% interest. There are currently three wells producing approximately 5600 b/d…
New Zealand Oil & Gas (NZOG) entered a deal to secure a 50.01% holding in its Australian subsidiary, Cue Energy Resources. “Our controlling interest in Cue provides diversified exposure to Cue's production and exploration interests in Australia…
Production on 10 January 2017 from the Beibu Gulf fields, offshore China, reached a total of 13.9 MMbbl, according to Horizon Oil. Up until this point, the Block 22/12 participants have been paying a fixed operating tariff of US$4.75/bbl to China National Offshore Oil Corp…
EMAS Offshore announced a net loss of US$2.2 million for the quarter ended 30 November 2016 (Q1 FY17), on the back of lower revenues. For Q1 FY17, the group recorded revenue of $42.5 million, as compared to revenue of $49.8 million in corresponding period last year…
Searcher Seismic has started a 3D reprocessing project, offshore Papua New Guinea in the southwest Pacific Ocean. The project comprises reprocessing existing open-file 3D datasets with a modern broadband de-ghosting and pre-stack depth migration sequence…
Malaysia's SapuraKencana Petroleum (SKPB) and UK-based engineering firm Proserv are joining forces to provide enhanced technology services offerings to clients in Asia Pacific. The firms will jointly provide a range of services across the drilling…
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