Pttep News

Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in…

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

Esgian has published its Week 49 Rig Market Roundup highlighting new drilling activity in the North Sea and a new licensing deal in Morocco.Drilling Activity and DiscoveriesSerica Energy is continuing with plans for its four-well drilling campaign in the UK North Sea, scheduled for 2024 and early 2025. The campaign will be carried out using the semisubmersible COSLInnovator. All four wells are production wells. The first well in the campaign will be a sidetrack of an existing well (B1z) on the Bittern field.

PTTEP has made three consecutive oil and gas discoveries offshore Malaysia and says it is strategically poised to expedite the development of these discoveries through a cluster development approach.Montri Rawanchaikul, CEO of PTTEP, disclosed that PTTEP’s subsidiary, PTTEP HK Offshore Limited and PTTEP Sarawak Oil Limited have made new oil and gas discoveries in three fields offshore Sarawak, Malaysia, including Chenda-1 exploration well in the block SK405B, Bangsawan-1 and Babadon…

Asia Pacific-focused Jadestone Energy, which last month shut down production from its Montara Venture FPSO off Western Australia due to an issue with the FPSO's 4S ballast water tank,is still working to address the defect in the tank.Jadestone Energy said Thursday that since the shutdown, tank 4S has been emptied and cleaned, with an inspection starting on August 8, 2023."The initial inspection has identified the location of a small defect between tank 4S and oil cargo tank 5C…

South Korean shipping company HMM announced it has ordered nine 9,000 TEU containerships capable of running on cleaner burning methanol.The $1.12 billion newbuild contracts were signed with South Korean shipyards Hyundai Samho Heavy Industries (HSHI) and HJ Shipbuilding and Construction (HJSC), HMM said. HSHI and HJSC will build seven and two vessels, respectively, for expected delivery from 2025 to 2026.Upon delivery, the newbuilds are scheduled to be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes.

Malaysia’s oilfield services player Sapura Energy said it has has clinched contracts worth a total of MYR 1 billion ($242 million) for several new oil patch deals and one – the company’s first – offshore wind contract.The 10 new contracts are for its engineering and construction and drilling segments across Malaysia, Thailand, Taiwan and Australia, said a press release from the company.In addition, the company has been selected for a frame agreement with Petroliam Nasional Bhd (Petronas) for fixed offshore structure works, the company said in a statement today.Regarding the first offshore wind farm contract, the statement said, "Sapura Offshore Sdn Bhd (Sapura Offshore) has been awarded a contract by Yunneng Wind Power Co. Ltd.

US hydrocarbon exploration company Anadarko has signed a Sale and Purchase Agreement (SPA) with Japanese power company JERA and Taiwanese oil and gas company CPC.The SPA calls for the delivered ex-ship supply of 1.6 million tonnes per annum (MTPA) for a base term of 17 years from the commercial start date. Mozambique LNG's portfolio of long-term sales now includes four of the top five LNG importing markets in the world."This co-purchasing agreement with JERA and CPC brings together two prominent Asian foundation customers and will ensure a reliable supply of cleaner energy to meet the growing demands of both Japan and Taiwan," said Mitch Ingram…

American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years. BGR is a wholly owned subsidiary of Government of India controlled  oil and gas giant Bharat Petroleum Corporation Ltd. (BPCL)."In addition to BPCL being an upstream equity co-venturer in the Mozambique LNG project, we are also pleased to have them as one of our foundation customers…

U.S. oil giant Anadarko Petroleum said it has signed a deal with one of China’s biggest importers to supply 1.5 million tonnes of liquefied natural gas (LNG) a year from Mozambique for a period of 13 years.The contract, signed by Anadarko and China’s GNOOC Gas and Power Singapore Trading & Marketing, gives China’s biggest liquefied natural gas importer access to world-class gas resources from Mozambique LNG, Mitch Ingram, executive vice president of Anadarko’s International, Deepwater and Exploration division, said."Mozambique LNG is extremely pleased to have CNOOC onboard as one of our foundation customers," added Ingram. "This agreement adds to our growing list of customers in the Asia-Pacific region…

Longitude Engineering reportedly has developed a cost effective decommissioning barge concept for the removal of small oil and gas platforms for the PTT Exploration and Production (PTTEP), a subsidiary of the Thai state owned oil company. The aim was to develop a viable and cost-effective alternative to conventional ‘reverse installation’ through the use of heavy lift crane barges for the removal of the topsides and jackets. The focus being the removal of 90-100 of PTTEP’s minimum facilities platform assets in the Gulf of Thailand…

Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security, executives said this week during an industry event in Kuala Lumpur, Malaysia. Asia is by far the biggest, fastest-growing consumer of oil, yet its output is falling faster than in any other region.

Market-led solution reduces shipping’s carbon dioxide emissions. Ahead of COP21, 26 of the 35 charterers that include vessel efficiency in their supply chain selection have come forward to highlight their proactive measures on climate change. By using the Greenhouse Gas (GHG) Emissions Rating to find the more efficient vessels these industry leaders are using their influence to incite change in the maritime industry by rewarding ship owners that prioritise efficiency. Developed in 2010 in response to customer demand, the GHG Emissions Rating is a tool developed by RightShip, the maritime risk management specialist. The tool is available free of charge to all RightShip customers and at ShippingEfficiency.org and allows charterers and other stakeholders to assess the efficiency of vessels.

FLNG deal-making has been sporadic since Woodside Petroleum at the end of 2013 delayed a final investment decision for the giant Browse FLNG project off Northwest Australia. The previous year had seen go-aheads for most of the floating liquefied natural gas projects (FLNG) underway today, including Shell’s Prelude FLNG — Woodside’s choice, it seems, of a liquefaction solution for fields 200 kilometers offshore. Yet Prelude, “the first project out”, might not be first to produce.

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it had found "excellent quality" oil in an off-shore well known as Pudim, or pudding, in the Espirito Santo basin. Drilling confirmed oil at around 4,670 meters, the company known as Petrobras said in a securities filing. A previous test had confirmed oil at between 4,305 and 4,383 meters at 35 degrees on the American Petroleum Institute (API) scale. Petrobras is the operator of the consortium drilling in the basin, with a 65 percent stake. PTTEP Brasil Investimentos em Exploração e Produção de Petróleo e Gás has 20 percent, while Inpex Petróleo Santos Ltda has 15 percent.

Bibby Offshore Singapore (BOS) said it has successfully completed a call out contract with PTT Exploration & Production Co Ltd (PTTEP). The project involved a short notice mobilization, and saw the BOS-operated DP2 ROV Support Vessel, the Bibby Spring perform subsea inspection services to PTTEP’s Bongkot Field assets in the Gulf of Thailand. The work was successfully completed within PTTEP’s restricted timeframe. Darren Morgan, Managing Director of Bibby Offshore Singapore,said, “The team work tirelessly to ensure we deliver on time and within budget.

Statoil and the Thai exploration and production company PTTEP have signed an agreement to divide their respective interests in the Kai Kos Dehseh (KKD) oil sands project in Alberta, Canada. Following the transaction, Statoil will continue as operator and 100% owner for the Leismer and Corner development projects. PTTEP will own 100% of the Thornbury, Hangingstone and South Leismer areas. As part of the transaction, Statoil will make a balancing payment of USD 200 million to PTTEP, in addition to a working capital adjustment from effective date of 1 January 2013.

Oil & Gas Regulators Respond to Recent Pollution Incidents by Reviewing their Regulatory Regimes. In response to the spate of significant pollution incidents involving oil & gas exploration, production and transportation that have hit the headlines in recent years, a number of national and international regulators have taken the opportunity to review their regulatory regimes. This article provides an update on the new Community-wide regulations that have been proposed by the European Commission, the regulatory reform that has occurred in Australia and the possible reforms in New Zealand.

ITF, the oil and gas industry technology facilitator announced a new membership agreement with Thailand’s national oil company, PTT Exploration & Production Public Company Limited (PTTEP). ITF plans to secure a $9 million investment from its members across the Asia-Pacific region to launch ground-breaking technologies. The organization will also bolster its team by creating a business development position, which will be based at its Kuala Lumpur office to further strengthen its presence across the region.

Working on a project to develop oilfields in the southern Timor Sea PTTEP built a new floating production, storage and offloading (FPSO) vessel. The FPSO is a sophisticated vessel with hundreds of pieces of equipment that need to kept in good working order 24/7. To achieve this SRO's IBM Maximo asset management software was used. SRO managing director, Steve Driver, explained: “[The project] requires robust preventive and corrective maintenance processes that needed Maximo to work effectively. The most important challenge was to keep the maintenance and procurement processes in sync between Perth, Darwin and the offshore FPSO. Fortunately, the SRO Data Replicator (SDR) was designed to solve such a problem. “SDR is designed to solve the exact problem we were facing.

SapuraKencana Petroleum Berhad (SDRL)  & Seadrill Limited  sign MOU to integrate their tender rig businesses. The new and restructured tender rig business will mark a new phase of cooperation between the two companies. In addition SapuraKencana will also be offered the right to be the manager for three further tender rigs which are not part of the transaction. These rigs, West Vencedor, T-15 and T-16, are today either owned or planned to be owned by Seadrill Partners LLC and are therefore not included in the transaction. The operating rigs and the new-builds are all currently contracted under long-term fixed price contracts with companies such as Chevron, Shell, PTTEP, and Petronas Carigali. The total order backlog amounts to USD 1.55 billion as of end of October 2012.

Japanese trading house Mitsui & Co. (8031.TO) said that a subsidiary, Mitsui Oil Exploration Co., has agreed to extend for 10 years the contract on its rights and interests in offshore oil and gas blocks in Thailand, according to a Dow Jones report. The Tokyo-based company said the unit, Chevron Corp. (CVX) and PTT Exploration & Production PCL (PTTEP.TH) have reached an agreement extending the accord, which was due to expire in April 2012, to April 2022. [Source: Dow Jones]