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Asia Pacific Collated Insights

/Asia Pacific Collated Insights
Asia Pacific Collated Insights 2017-08-18T21:22:32+00:00

Zeta Resources Plans New Zealand Acquisition

Australian listed Zeta Resources is planning a partial takeover bid for New Zealand Oil and Gas (NZOG). Zeta already holds 17.5% and will bid to acquire at least 41% of the shares it does not already own. Which would give it control-ling interest. NZOG holds stakes in various New Zealand producing fields including Kupe and Maari as well as the producing Sampang PSC in Indonesia. It also holds various exploration interests in Australia, Indonesia as well as at home in New Zealand.

Rosneft Vietnam To Drill 3 Wells In 2018

Rosneft is to drill 3 wells in 2018 with two production wells scheduled for the Phong Lan Dai and Lan Do fields in Block 06.1 and an exploration well in adjoining block 05-3/11. Water depths are up to 190m and JDC semi Hakuryu 5 has been chartered for the work.

Jing Lue Accepted By Sinopec

One rig that has been completed, delivered and accepted by the owner, a rare event these days, is Sinopec’s Jing Lue, a 300ft rated Shengli Drilling Technology design jack-up built at CIMC Raffles shipyard. The rig has been handed over to Sinopec subsidiary Shengli Petroleum Engineering and is ex-pected to go to work for Sinopec offshore China shortly.

Sembcorp Confirms Completion Of Perisai Rigs

In their recent quarterly financial report Sembcorp Marine confirmed that Perisai jackups Perisai Pacific 102 and Perisai Pacific 103 plus Oro Negro jackups Vastus, Supremus and Animus have all been technically completed and that a number of potential clients have emerged to acquire the units whose owners have yet to commit to accepting delivery. Jurong shipyard also has another jackup still under construction, Hakuryu 14, whose delivery has been put back from 2016 to January 2018. The report did not mention Iron V, a jackup ordered by Marco Polo and currently the subject of arbitration nor of the two speculative [...]

Diamond To Scrap Five Rigs

Diamond Offshore have decided to remove five cold stacked floaters from active service and they are being held for sale as scrap or non drilling uses. All five have been cold stacked for three years or more. In the North Sea mid water floaters the Ocean Nomad, a 1975 built Aker H-3-2 design semi, has been stacked since March 2015, the Ocean Princess, an Aker H-3 also built in 1975 and also idle since March 1975 and lastly the Trosvik Bingo 3000 design rig Ocean Vanguard built in 1982 which has been out of work since June 2014. The other [...]

COSLPower On Standby In Malaysia

COSL jackup COSLPower has yet to mobilize to Nigeria even though it is scheduled to com-mence its charter with Sirius Petroleum later this month. The rig is on standby in Malaysia awaiting the operators instructions to commence mobilization. The 4-well charter is expected to keep the rig busy for around 6 months. It has been idle since September 2014.

Local Firm Wins Shale Gas Block Auction in China’s Guizhou

A local firm on Friday won the right to explore and develop a shale gas block in the southwestern Chinese province of Guizhou in a government auction for 1.29 billion yuan ($193 million), local media reported. State-run Guizhou Industry Investment (Group) Co, with business spanning financing, property, power and coal, is expected to start commercial gas production at the Zheng An block within three years, according to a report on Guizhou Radio's social media account. The Guizhou firm will become one of the few players not primarily focused on the oil and gas industry to explore and develop the unconventional [...]

JDC Secures Mubadala Malaysia Contract

The region’s sole remaining operational mid water floater, Hakuryu 5, has picked up another charter, this time with Mubadala in Malaysia. Mubadala had initially joined with Shell who have just contracted the UDW semi Deepwater Nautilus which presumably did not suit Mubadala because they pulled out of the tender and went in alone. The two well charter with Mubadala in Block SK320 will commence in January and will partially fill the gap in the rigs contract portfolio between finishing with Gazprom in Sakhalin in October / November and commencing a 102 day charter with Rosneft in Vietnam in April next [...]

Fourth FTS Jackup Cancelled

Shanghaiguan Shipbuilding in China has cancelled a fourth jackup, the TS Jade (400'-IC) it was building for Falcon Energy subsidiary FTS Derricks after the Falcon said it would not be able to provide funding. In June, FTS cancelled construction contracts for sister units TS Coral, TS Emerald and TS Opal. Falcon had already paid the yard $43 million, representing the 5% down payment required for all four rigs. The first three rigs are said to be jacked up at the yard, while the hull for the TS Jade was launched earlier in 2017. All four of the jackups were expected [...]

Julimar Phase 2 Concept Selection Underway

The Woodside Energy-operated Julimar Phase 2 Development, located offshore Western Australia, has moved into the concept definition phase. The development involves four subsea wells being tied back to existing Brunello subsea infrastructure. The operator is targeting a final investment decision for the project in 2019.

Woodside To Shutdown Enfield

Woodside is to permanently shut down the Enfield oilfield in the Exmouth Basin and decommission the existing FPSO vessel by the end of this year. The field came into production in 2006 and peaked in September that year at 74,000bpd, much lees than what the company had anticipated. The operator has already filed an environmental plan with NOPSEMA for the decommissioning project. The field is in permit WA-28-L with Woodside owning a 60% interest and Mitsui the rest.

KrisEnergy Thailand Finalizes Jackup Contract

KrisEnergy are understood to have now selected another jackup after their first choice, Topaz Driller, was snapped up before they could confirm the award. The two well program is set to start this quarter and is expected to take between 2-3 months. Hot favourite is Seadrill’s West Cressida currently with PCPP in Malaysia until at least October.

Eni Australia Tendering For A Floater

Eni’s Australian drilling campaigns which have been on and off since 2014 have finally reached tendering stage. Following their last market survey in June last year Eni have now tendered for a floater for 6 well abandonments in the Woolybutt field in WA-25-L and a 70-day well in JPDA 11-06 in the Timor Sea. There is also an option for a further well to be drilled in the Timor Sea area. Maximum water depths are 265m and commencement is set for April 2018.

Transocean Secures Shell Malaysia Contract

Transocean’s Deepwater Nautilus has picked up a 4+11 well charter with Sarawak Shell. The rig has been contracted by Shell in the Gulf of Mexico since 2008 and arrived in Malaysia in August 2016 to be stacked on contract until the completion of its current contract on 28 August this year. Shell had tendered in December last for a moored mid water floater to work in up to 500m water depths and have instead chartered a moored UDW floater capable of working in 2500m water depths; sign of the times. The charter is set to start in Q4 and if [...]

Maersk Drilling Profits Slip

Maersk Drilling has reported a profit of $28 million for the second quarter of 2018 from $164 million in the same quarter of the previous year. The result was impacted by ten rigs being fully or partly idle during the quarter, and old contracts at higher day rates that have expired. During the second quarter 2017, revenues also dropped totaling $349 million against $566 million in the same period a year earlier. By the end of the quarter, forward contract coverage was 61% for 2017, 46% for 2018 and 25% for 2019. The total revenue backlog by the end of [...]

POSCO-Daewoo Bid Deadline Extended

POSCO-Daewoo has extended the closing date for its MDW floating rig tender from August 16 to August 31. The program will be for eight wells; four in the Shwe Field and four in the Mya South Subsea field in Blocks A-1 and A-3, with operations starting 4Q/2019. Water depths in the area are around 2,130'.

Woodside Increases Myanmar Acreage

Woodside Energy has farmed into three further blocks offshore Myanmar, expanding its portfolio and making it the largest holder of acreage in the region. The company has already signed a deal with CNPC to take a 50% interest and joint operatorship in blocks AD-1, AD-6 and AD-8 located in the Rakhine Basin. The three blocks are near the Shwe offshore area operated by Posco Daewoo.

FPSO Ichthys Venturer Arrives In Australia

Inpex’s semi sub production platform the Icthys Explorer has now been joined by the new build FPSO Ichthys Venturer which has just arrived from DSME in South Korea with mooring, hook up and commissioning now underway in the Ichthys field. The Ichthys Explorer will receive all gas and condensate from the field before the gas is piped to Darwin for processing into LNG, while the condensate will be piped to the Ichthys Venturer.

Rani Woro Remains On Standby For Pertamina

Apexindo jackup Rani Woro remains on standby in Balikpapan while waiting instructions from Pertamina Hulu Energy Abar to mobilize to the Abar block in northwest Java for a 2-well char-ter although the final workscope has not yet been agreed. With the rig contract still awaiting signature it is likely that the charter will not now start until September. An earlier market survey had suggest-ed the program duration to be between 3

Woodside Makes Another Gas Discovery

Transocean’s UDW drillship Dhirubhai Deepwater KG2 has made another gas discovery for Woodside offshore Myanmar in Block A-6, the third in the block after two discoveries back in 2016. The rig has now moved onto Block AD-07 and Woodside has now exercised two of its six options which will keep the rig firm until November this year. Should Woodside exercise all the remaining options the rig will remain in Myanmar until July next year.

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