Asia Pacific News

 

Will 2021 Breathe Life Back into Asia Pacific Upstream M&A Market?

Dec 16, 2020

2020 has been dismal for upstream dealmakers across Asia Pacific. During a recent conversation with a senior banker in the region, I mentioned that deal activity was so poor this year that as of October, only a sliver over US$400 million and 117 million boe of 2P resources had transacted (vs US$5.1 billion and 1,400 million boe in 2019). I got a short response: “I’m surprised it wasn’t zero.” Perhaps nobody needs reminding just how tough a year it’s been…

DOF Subsea Secures Work on Several Offshore Campaigns in Asia Pacific

Aug 23, 2021

Norwegian subsea support vessel operator said DOF Subsea said Monday it had won several contracts awards in the Asia Pacific region.According to DOF Subsea, the contracts provide 'significant' utilization for resources and vessels in Q3 and…

Carnarvon Wraps Buffalo Farm-Out. Drilling to Start in Late 2021

Apr 20, 2021

Australian oil and gas companies Carnarvon Petroleum and Advance Energy have completed the Buffalo oil field farm-out agreement as all the necessary conditions have been met.Carnarvon in December 2020 announced that Advance Energy would acquire 50% of the Buffalo project in the Timor Sea…

Woodmac: Quiet Year for Upstream M&A in Asia Pacific. Improvement Seen in 2021

Nov 20, 2020

The year 2020 is on course to be the quietest year for upstream transactions in the Asia Pacific region since the beginning of the 21st century, energy intelligence firm Wood Mackenzie said in a report this week, adding that the activity is expected to bounce back in 2021…

Ampelmann Nets 3-year Contract with Brunei Shell Petroleum

Aug 19, 2020

Dutch offshore gangway provider Ampelmann has won a three-year contract with Brunei Shell Petroleum to provide two L-type gangway systems for offshore crew change operations.According to the motion-compensated gangways provider, seven years ago in 2013…

Eni Hires Polarcus for Asia Pacific Survey

Jul 10, 2020

Polarcus has won a contract with Eni for a survey in the Asia Pacific.The Oslo-listed marine seismic services provider said the contract was for an expected minimum duration of one month.'The project is scheduled to commence in Q1 2021, subject to relevant approvals…

Global Offshore Rig Count in June Falls to 208. Africa Suffers the Biggest Loss

Jul 02, 2020

The global active offshore drilling rig count for June 2020 was lower by 65 units, compared to June 2019, Baker Hughes' monthly rig count report has shown.Latin America was the only region that saw its offshore rig count rise, Europe and North America saw their numbers halved…

Asia Pacific Drilling Technology Event Delayed for 2021

Jul 02, 2020

Asia Pacific Drilling Technology Conference and Exhibition (APDT) originally scheduled for September 1-2 2020 in Yangon, Myanmar has been postponed for next year due to the COVID-19 pandemic.'Due to the ongoing global public health concerns related to COVID-19…

Deep Down Secures GoM, APAC Orders

Jun 10, 2020

Subsea oil and gas production control equipment provider Deep Down has said it has received orders from two customers totaling approximately $2 million.The scope of work for these orders includes providing subsea controls equipment consisting of jumpers…

Polarcus Wins Survey Work in Asia Pacific

Apr 29, 2020

Oslo-listed marine seismic services company Polarcus has signed a contract for a survey in the Asia Pacific region.Polarcus said Wednesday that it had received a deal for an XArray marine seismic acquisition project, without disclosing the identity of the client nor the financial details…

BW Offshore's FPSO Stuck in New Zealand

Apr 10, 2020

FPSO-leasing company BW Offshore has been unable to remove the Umuroa FPSO from the Tui field in New Zealand following the contract termination, client liquidation, and the country's court and environment regulator intervention.The company was…

Polarcus' Project Cancellations Highlight Oil Price Slump

Mar 23, 2020

Polarcus Ltd, which operates ships that search for offshore oil and gas, announced two project cancellations that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.Polarcus'…

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…

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