The energy industry in Indonesia is up for some big changes, as the country has signed 11 business deals worth 314.9 trillion rupiahs ($23 billion) with the United Arab Emirates. These deals involve multiple investments in energy and other sectors.  The two countries signed multiple memorandums in the presence of Mohamed bin Zayed al Nahyan,...

Japanese petroleum giant JX Nippon has commenced oil production from a newly installed floating production, storage and offloading vessel at the Layang field off Malaysia. The partnership between the giant’s subsidiary in Malaysia and Petronas Carigali, which started from 3rd December 2019, is being handled by Helang FPSO, a company owned by Yinson Holdings. The...

An offshore exploration well has been spudded by Indonesia’s Medco Energi at its multi-field oil and gas complex in Block B in the Natuna Sea. In 1986, the Natuna Sea was recognised officially as its’ own entity by the International Hydrographic Organisation as it was previously acknowledged as part of the South China Sea. The...

There’s good news for Pertamina of Indonesia which has started making concrete progress on its Jambaran Tiung Biru (JTB) onshore giant gas development project in Java. This already delayed $1.5 billion project is targeted to be completed in 2021. Launched in 2012, the construction of the project began in 2016. However, until today, only 36%...

International Petroleum Corporation (IPC), a Toronto-listed petroleum company based in Canada was carrying out exploration on the Keruing prospect on Block PM307 off Malaysia. However, the exploration resulted in no luck when they found that the well turned out to be dry. They also found out that the well was plugged and abandoned.  In its...

State-owned China National Offshore Oil Corporation (CNOOC) recently made plans to drill an appraisal well on Block 22/12 in the Beibu Gulf off the Chinese coast with tentative end date before end of 2019.  The joint venture between CNOOC and Horizon Oil revealed that the company plans on conducting the field appraisal of a reservoir...

A key contract in Brunei’s only semi-submersible tender assist drilling rig was recently won the Vietnam based PetroVietnam Drilling & Well Services (PV Drilling). The project is set to run in the second quarter of 2020 for a period of six years.  Various tenders from rig specialists across Southeast Asia had been invited by Brunei...

Fresh cooperation in the oil and gas sector is set between Malaysia & Vietnam. Prime Minister Tun Dr Mahathir Mohamad said, through the countries’ respective petroleum companies, Petronas and Vietnam Oil and Gas Group (PetroVietnam), this would be undertaken. Petronas and PetroVietnam signed a binding Heads of Agreement (HoA) for the sale and purchase of...

Uk North Sea could see more decades of the basin’s lifespan through the pioneer of a new microbial technology which will soon be trialled. This could help save people’s jobs and “kick decommissioning down the track”. An estimate of 35% is a standard recovery rate from an oil reservoir while the rest has stayed stubbornly...

Gabon’s petroleum minister, Noel Mboumda, stated that Malaysia’s state-owned oil company has signed an agreement with Gabon for two exploration permits. This happened after the African country enacted a new oil law on July 2019. According to the statement, Petroliam Nasional Bhd, also known as Petronas, has a presence in Gabon and is the first...