Kris Energy News

Oil and gas company Valeura Energy said Monday that modifications to the MT Jaka Tarub crude oil storage vessel were complete, making the vessel compatible with infrastructure at its Wassana oil field, offshore Thailand.According to Valeura Energy, the vessel is capable of tandem crude oil loading/offloading. "Subject to favorable metocean conditions, the vessel will arrive at the Wassana field in the coming days, after which Valeura intends to resume oil production operations, targeting initial rates of up to 3,000 bbls/d, net to the 89% working interest share held by its subsidiary company Valeura Energy Asia Pte. Ltd." the company said.As reported by Offshore Engineer in December 2022…

Oil and gas company Valeura Energy has entered into a definitive agreement with PT Samudra Alam Transport to charter the MT Vula crude oil tanker to store oil produced from the Wassana oil field, offshore in the Gulf of Thailand.In Q2 2022, Valeura acquired KrisEnergy International (Thailand) Holdings Ltd. which owns and operates two licenses in the offshore Gulf of Thailand. The acquisition included the suspended Wassana oil field and the fully appraised Rossukon oil field. Additionally, through a separate agreement, the company agreed to acquire the Mobile Production Unit Ingenium (“MOPU”) which is on location at the Wassana oil field.Valeura said this week that the oil tanker to be chartered for Wassana would be renamed MT Jaka Tarub.The MT Jaka Tarub is a Panamax-sized oil tanker…

When Cambodian officials commemorated the start of the country's first oil project in June by preserving the first drops of production at a high-profile ceremony, they heralded the country's emergence as a budding oil exporter at the heart of Asia.But instead of reaping royalties, Cambodia's government has filed a theft complaint against the crew of the tanker that stored the crude, after they sailed away with the oil amid a payment dispute with the oil field's developer.Singapore-based KrisEnergy…

The Cambodian government is seeking the return of an oil tanker and its crew who have been detained in Indonesia, alleging that the ship had loaded oil illegally from an offshore oil field, a government official said on Thursday.The Bahamas-flagged tanker MT Strovolos and its crew were detained in waters near the Anambas islands of Indonesia on July 27, the Indonesian Navy said in a statement.The vessel is carrying Cambodia's first-ever oil production from an offshore oil field which began operation in December 2020. However, the cargo has been stuck onboard the tanker since May as the project developer KrisEnergy entered liquidation in June after being unable to pay debts."I am worried," Cambodia's Ministry of Mines and Energy spokesman Cheap Suor said.

Indonesia's navy is preparing to charge the captain of a ship accused of loading oil illegally in Cambodia and anchoring in Indonesian waters without permission, according to local authorities and the vessel owner.Bahamas-flagged tanker MT Strovolos was stopped in waters near the Anambas Islands of Indonesia on July 27, the Indonesian Navy said in a statement. The stop followed a red notice issued by the Cambodian embassy on July 24 that asked Indonesian authorities to make an arrest on suspicion of stealing around 300…

Southeast Asia-focused oil and gas company KrisEnergy Apsara Co signed a conditional letter of award with PT Profab for the supply of a minimum facilities wellhead “mini-platform” for the Apsara oilfield – Cambodia’s maiden oil development.According to a press note from the Singapore-based parent company KrisEnergy, the scope of work covers key procurement, and the fabrication and construction of the jacket, topsides and other related accessories for the Mini-Platform, including full pre-commissioning and loading onto a barge for transportation.The work will be undertaken at Profab’s facility on Batam Island, Indonesia, it said.The Apsara field in Cambodia Block A lies over the Khmer Basin…

Singapore's Keppel Offshore & Marine said its wholly-owned subsidiary Keppel Shipyard has secured a contract worth about S$30 million (US$21.8 million) for the modification and upgrading of a production barge for SJ Production Barge Ltd, a wholly-owned subsidiary of compatriot upstream oil and gas company KrisEnergy.Keppel Shipyard's scope of work includes installation of a power generation module, electrical house, new accommodation units and other refurbishment works. The work is expected to conclude around the third quarter of 2019.Chor How Jat, Managing Director (Conversions & Repairs) of Keppel O&M and Managing Director of Keppel Shipyard…

Oilfield services firm Ezra Holdings of Singapore filed for U.S. Chapter 11 bankruptcy at the weekend, blaming a prolonged slump in the energy industry, Reuters reported. Ezra  has been facing hostile actions from creditors at home and abroad as it struggles to recover from a slump in oil prices over the past three years. The company filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code, according to a stock exchange filing on Sunday. Ezra will hold an informal meeting as soon as "reasonably practicable" to update and provide further information on the Chapter 11 filing to holders of its debt, it said in a separate statement. Ezra is one of several Singapore offshore and marine services firms that have been hit by a downturn in oil prices since in 2014.

Singapore's oil and gas explorer KrisEnergy acquired a 42 percent stake in the Tanjung Aru block in the Makassar Strait from its partner Neon Energy on May 5, company spokesman Tanya Pang said. The transaction occurred after Neon Energy failed to pay a cash call worth $1 million, submitted by KrisEnergy. (Kontan) Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)

Australian oil and gas company Santos and Singapore-based Kris Energy signed a production-sharing contract (PSC) on Wednesday to explore oil and gas in Bangladeshi waters. State-run Bangladesh Oil, Gas and Mineral Corporation, known as Petrobangla, awarded shallow water blocks SS-11 in the Bay of Bengal to the two foreign energy firms. Santos, which in October shut down operation of Bangladesh's only offshore gas field, saying it was not commercially viable, will be the operator of the new project and Kris Energy will join as a co-partner. "It (gas exploration) is a continuous process to make Bangladesh a middle-income country by 2021 and also to become a developed country by 2041," Finance Minister Abul Maal Abdul Muhith told reporters at the signing ceremony.

Global marine offshore & energy group Keppel Corp. Keppel Corporation Limited (Keppel Corporation), through a wholly-owned subsidiary, has subscribed for new shares in KrisEnergy Ltd (KrisEnergy) for a total consideration of USD 115m. The consideration amount was injected as new capital into KrisEnergy, and Keppel Corporation now holds 20% of KrisEnergy's enlarged share capital. Established in 2009, KrisEnergy is an independent upstream oil and gas company with a diverse portfolio in Southeast Asia. The acquisition was funded internally and the price was derived from a willing buyer, willing seller basis. KrisEnergy was previously 100% held by parent company KrisEnergy Holdings Ltd, whose major shareholder is First Reserve, a leading global investment firm dedicated to the energy industry.