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Asia-Pacific upstream in brief

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03 August 2022

Asia-Pacific upstream in brief

Report summary

The latest stories and trends in the Asia-Pacific upstream sector combined with our expert opinion and analysis. We add commentary on events as they break to keep you informed in real-time, and discuss themes in greater detail in our podcast. Snapshot of recent stories: - Prime Infra acquires Shell’s 45% stake in Malampaya from Udenna Corporation - Jadestone takes bp stake in North West Shelf oil - Sinopec discovers new shale oil play - TotalEnergies progress Papua LNG, withdraws from Myanmar - Indonesia launches first licensing round of 2022 - CNOOC launches 2022 offshore licensing round - Harbour Energy opens new deepwater Indonesia play - India imposes windfall levy on oil producers - Late-life oil asset sales continue in Thailand - Sasanof-1 a duster

Table of contents

  • Prime Infra acquires Shell’s 45% stake in Malampaya from Udenna Corporation
  • Jadestone takes bp stake in North West Shelf oil
  • Sinopec discovers new shale oil play
  • TotalEnergies progresses Papua LNG, withdraws from Myanmar
  • Indonesia launches first licensing round of 2022
  • CNOOC launches 2022 offshore licensing round
  • Harbour Energy opens new deepwater Indonesia play
  • India imposes windfall levy on oil producers
  • Late-life oil asset sales continue in Thailand
  • First oil/gas at Hindustan Oil Exploration Company’s B-80 contract offshore India
  • Sasanof-1 a duster
  • Strike hits a home run at South Erregulla
  • Back in Jakarta: Indonesia upstream research takeaways
  • Indian buyers discuss the acquisition of Shell’s stake in the Sakhalin-2
  • Soaring gas prices in Australia's East Coast market
  • Vietnam upstream: critical events to look for in 2022
  • PetroChina approves a deep shale development
  • ONGC seeks partners for offshore Krishna-Godavari basin blocks in India
  • INPEX aims for Ichthys expansion
  • Apus-1 disappoints for Santos
  • China sets new 2025 gas output target, up 13%
  • Testing times ahead for SSGP
  • Prelude restarts as Crux moves towards FID
  • Ten bids for six blocks in India’s latest licensing round
  • PTTEP, Sapura-OMV, Shell, PETROS win new Malaysia blocks
  • Mubadala starts gas production from Malaysia’s Pegaga field
  • PETRONAS and BP expand Indonesian exploration positions
  • Oil shows for Timor Resources, onshore Timor Leste
  • Santos' Bayu-Undan CCS project enters FEED
  • Strike finds more gas in prolific Perth basin
  • PETRONAS back in black, going green
  • INPEX kicks Abadi LNG into next decade
  • PNG inks P'nyang gas agreement
  • CNOOC awards four PSCs after quiet 2020 and 2021
  • INPEX returns to profit in 2021, updates transition strategy
  • Shell’s Prelude expected offline until Q2
  • Chevron's interest in the NWS no longer for sale
  • Timor-Leste Buffalo well falls short
  • KUFPEC discovers gas in Natuna Sea, offshore Indonesia
  • Indonesia targeting 12 new projects in 2022
  • Malaysia lays out DRO buffet for 2022 license round
  • TotalEnergies and Chevron call it quits in Myanmar
  • Woodside and Santos ride LNG wave
  • India’s gas supply growth shifts focus away from oil production woes
  • China boosts shale gas output by 15% in 2021
  • Bontang output under pressure in 2022 despite Merakes well restarting
  • A big month - and year - for the Beetaloo
  • CNOOC Ltd 2022 Strategy Preview: Roaring into the year of the tiger
  • PTTEP, Chevron inch closer to Erawan transition
  • Gorgon phase 2 domgas ramps up to nameplate
  • Hot on the heels of Port Kembla: Viva LNG announces key deals
  • Santos and Oil Search complete merger
  • ConocoPhillips swaps Indonesian gas for Australian LNG
  • JERA buys into high emissions Barossa gas project
  • Mitsui consolidates ownership of MOECO
  • Australian LNG imports move one step closer as AIE charters FSRU
  • Indonesia offers eight blocks in second 2021 licensing round
  • Woodside green lights Scarborough LNG
  • Woodside brings GIP into Pluto Train 2
  • Senex adds to Surat basin acreage with APLNG deal
  • Wood Mackenzie Global Energy Summit 2021 Upstream Focus Day
  • Santos captures Moomba CCS FID
  • More companies exit Myanmar's upstream sector
  • Sabah government approves third FLNG vessel
  • EIG buys 10% of APLNG from Origin
  • Woodside reserves take a hit at Wheatstone
  • Posco makes US$626 million takeover bid for Senex
  • Beach Energy and BP agree LNG deal for Waitsia
  • Perth basin wildcat comes in big
  • Santos and Timor-Leste sign Bayu-Undan CCS MOU
  • PTTEP pushes Lang Lebah FID to 2023
  • Indonesia approves bp CCUS plans for Tangguh LNG
  • Shell FID’s Malaysian Timi field, including renewable power
  • P’nyang and PNG T3 negotiations restart
  • Repsol exits Vietnam, regional players swoop in
  • Woodside and BHP agree to merge oil and gas businesses
  • PETRONAS pushes third FLNG vessel towards FEED
  • Abadi FID delayed further- can Southeast Asia’s vital pre-FID projects be developed?
  • Rapid ramp-up in production at Reliance’s KG-D6 deepwater block in India
  • Santos proposes Oil Search merger
  • TotalEnergies signs US$750m GLNG infrastructure agreement with GIP
  • US$4 billion Jansz-Io compression project gets the green light
  • Indonesia offers six new blocks in its first licensing round in 2021
  • Repsol exits Malaysia through Hibiscus deal
  • New kids on the block: Cue Energy and New Zealand Oil and Gas enter Australia’s Northern Territory
  • Shell exits Philippines with sale of Malampaya gas fields
  • PTTEP’s fantastic four in Malaysia
  • Jadestone enters Malaysia through SapuraOMV's PM assets
  • Merakes makes waves in the Kutei Basin
  • EOG buzzes in to Australia for Melbana's Beehive
  • Hydrogen and CCUS get a cash injection from Canberra
  • Empire expands in the Beetaloo
  • SK408 partners sanction Jerun project
  • Myanmar enters even murkier waters
  • Victorian Government rejects proposed Crib Point import terminal
  • China shale surprises on the upside
  • Beach Energy continue Otway exploration success with gas discovery at Artisan
  • Shell to sell in Malaysia
  • Eni exits Pakistan
  • Two for two for PTTEP and PETRONAS in familiar waters
  • Australia’s E&Ps looking ahead to a more positive 2021
  • An auspicious start to 2021 for PTTEP Malaysia
  • PETRONAS releases new fiscal terms
  • Australian regulator puts its foot down on decommissioning
  • Myanmar's upstream future: to prevail or be derailed?
  • 2021 M&A begins in Australia: Beach buys Mitsui's Bass Basin interests.
  • CNOOC proves up 315 mmboe at Huizhou 26-6
  • Domestic players dominate China’s latest shale gas licensing round
  • BP strikes out with Ironbark-1 exploration well
  • Indonesia approves Repsol’s Sakakemang development plan
  • Kris energy produces first offshore oil in Cambodia
  • GIP buys 26.25% stake in QCLNG facilities for US$2.5 billion
  • Australasia exploration: 5 things to look for in 2021
  • China launches long-awaited third shale gas licensing round
  • Santos big Investor Day reveal: carbon neutral by 2040
  • Santos receives Federal Environmental approval for Narrabri
  • Papua LNG to move ahead on its own
  • Asia Pacific upstream webinar: forecasting the future
  • Beach Energy acquires Senex’s Cooper basin interests
  • Horizon Oil exits PNG
  • Offshore exploration moratorium lifted in the Philippines
  • Positive results from Empire Energy’s Beetaloo exploration well
  • Chrysaor enters the Southeast Asia arena
  • One step closer to FID: Narrabri receives government approval
  • Chevron agrees terms of Rokan PSC transition
  • CNOOC Ltd delivers first independently-operated deepwater oil project
  • Indonesia returns cost recovery as an option for the new licences
  • Australia’s offshore acreage release: who will bid?
  • Strike Energy announces firm offtake agreement
  • Indonesia re-introduces cost recovery option
  • Ken Bau: Vietnam's giant gas find
  • Weld issues found at Gorgon LNG
  • Shell considering Masela exit in Indonesia
  • Dissecting Chevron's asset sale of the North West Shelf
  • Jadestone Energy (re)enters Indonesia
  • After the crash – what's changed in Asia Pacific upstream?
  • Repsol transfers stake in Ca Rong Do to PetroVietnam
  • PNG passes law to shift to PSC regime
  • Santos completes northern Australia purchase – next step is Barossa FID
  • CNOOC launches 2020 offshore licensing round
  • 'For Sale' sign goes up on Eni's Australian upstream portfolio
  • PetroChina’s new ‘giant’ Sichuan gas play
  • Asian NOCs go on major cost-cutting spree
  • Q1 Indonesia exploration update
  • JERA agrees to buy into Barossa, backfill field for Darwin LNG
  • All's well that ends well for OMV New Zealand
  • Sabah takes its cut
  • PetroChina's find opens new Tarim basin play
  • PTTEP mulls delaying operations to adjust to new market dynamics
  • Shell delays Crux FID as Prelude FLNG to remain offline for most of 2020
  • ONGC starts gas production from deepwater block KG-DWN-98/2 offshore India
  • Oil price crash: how will Asia Pacific's upstream sector respond?
  • Further delays expected at Tangguh Expansion as Covid-19 restrictions bite
  • CNOOC makes significant oil discovery in Bohai Bay
  • Santos farms down 25% of Bayu-Undan and Darwin LNG to SK E&S
  • Zarubezhneft enters Indonesia's Tuna PSC
  • Coronavirus: how it could hit China’s oil and gas supply?
  • Coronavirus: how is it impacting Asia Pacific’s upstream sector?
  • Equinor pulls the plug on Stromlo-1
  • Tawhaki-1 is a duster
  • Posco discovers gas in Myanmar Block A3
  • Malaysia breaks off unitisation discussions with Brunei
  • Chinese firm wins exploration licence for Cambodia’s Block D
  • KrisEnergy divests Block 115/09, offshore Vietnam
  • Woodside delays FID on Browse
  • Chevron puts IDD up for sale
  • Update: SK408 starts up, SSGP shuts down
  • PetroChina makes ultrad eep oil discovery in the Tarim basin
  • Musical chairs at China's national oil companies
  • SK408 starts up, SSGP shuts down
  • CNOOC hits big in Bozhong 19-6 appraisal
  • Australia/Timor-Leste border updated in all Wood Mackenzie services
  • PetroChina’s shale gas output jumps 87% year-on-year
  • Niko reaches end of the line, exits Indian D6 block
  • Podcast: Watercooler edition
  • PETRONAS continues Repsol partnership in Indonesia
  • Shell closes 2019 with a sizzler
  • Beach farms into the Great South frontier basin in New Zealand
  • ConocoPhillips surprises with Tasmania exploration farm-in
  • Shell and Husky make deepwater China moves
  • Santos and Daewoo look to exit Bangladesh
  • Key takeaways from Santos' Investor Day
  • Woodside sanctions Julimar-Brunello Phase 2
  • Scarborough and Pluto Train 2 update
  • BP to acquire KrisEnergy stake in Andaman II block, Indonesia
  • Jadestone Energy acquires New Zealand stake from OMV
  • Woodside increases Scarborough reserves by 52%, hits 11 tcf
  • Chevron exits Philippines with sale of Malampaya gas fields
  • Malaysia announces 2020 bidding round
  • Shell acquires Brunei deepwater exploration block from Total
  • CNOOC makes ultra-deep gas discovery
  • Successful appraisal at Duyung PSC
  • Santos acquires ConocoPhillips' north Australian portfolio for US$1.39 billion
  • ExxonMobil fires starting pistol on Asia Pacific divestment programme
  • PetroChina reports big oil and gas additions
  • Dorado blocks attract Santos and BP
  • ExxonMobil marketing its assets in the Gippsland Basin
  • IPA 2019: key takeaways
  • Strike Energy discovers gas in the Perth Basin
  • Eni-led consortium awarded West Ganal PSC
  • ONGC unveils its 2040 strategic vision
  • Medco Energi acquires North Sokang PSC
  • Chevron's Gorgon project begins injecting CO 2
  • PTTEP buys more shares in Apico
  • Indonesia unveils four new blocks in latest bid round
  • Neptune ups its stakes in Kutei Basin
  • Takeaways from our latest trip to Jakarta
  • Eni hits big gas in Vietnam
  • PETRONAS awards Kasawari contract
  • Indonesia’s Tangguh Expansion delayed by a year
  • ConocoPhillips wins Corridor PSC extension in Indonesia
  • Indonesia approves Abadi LNG revised Plan of Development
  • Chinese NOC cooperation attracts attention
  • Beach announces Waitsia progress and alignment of Perth Basin equity interests
  • Usual suspects dominate India's OALP- 2 and 3 bid rounds
  • PTTEP strikes big in Malaysia
  • Barossa strengthens its leading position to backfill Darwin LNG
  • CNOOC announces 2019 offshore licensing round
  • China extends unconventional gas subsidy to include tight gas
  • INPEX and Government of Indonesia agree next steps for Masela PSC
  • Reliance and BP take FID on D-55 (MJ) gas-condensate field offshore India
  • Shell delivers first LNG cargo from Prelude
  • The road to Dorado – appraisal well confirms significant resource
  • APPEA 2019 takeaways
  • Bangladesh delays offshore bid round
  • Papua New Guinea's Prime Minister resigns
  • Hong Kong takeaways
  • Liberal Party wins the Australia election
  • PETRONAS FLNG Satu moves to Kebabangan Cluster
  • Santos buys stake in P’nyang – brings PNG LNG expansion closer
  • Indonesia awards two blocks in first 2019 bid round
  • Leak at the Sabah-Sarawak gas pipeline (SSGP)
  • Murphy hits oil in Vietnam
  • Santos confirms significant gas resource at Corvus
  • PETRONAS makes first move into renewables
  • Takeaways from SEAPEX Exploration Conference
  • BP plans to exit China shale
  • Shell signs Chinese shale oil JSA with Sinopec
  • Papua LNG JV signs gas agreement with the PNG Government
  • Woodside signs 10 year LNG deal with ENN
  • PTTEP acquires Murphy's Malaysia portfolio
  • Malaysia research trip highlights
  • China shale gas hit by three earthquakes in two days
  • Indonesia offers five blocks in 2019 first bid round
  • Repsol strikes gas onshore Sumatra
  • Origin Energy sells Ironbark CSG to APLNG
  • Equinor publishes environmental plan for Stromlo-1
  • PTTEP buys stake in Apico for US$64 million
  • Invenire Energy acquires Tata Petrodyne for US$100 million
  • India launches third OALP bid round during Petrotech 2019
    • Coro Energy acquires 15% stake in Duyung PSC
    • Medco to acquire Ophir for US$512 million
    • Oil flows again in Vietnam
    • Australian E&P 2018 fourth quarter results
    • CNOOC Ltd announces 2019 strategic plan
    • PETRONAS FLNG Satu to move from Kanowit to Kebabangan
    • India offers 14 blocks under second OALP bid round
    • Medco launches bid to buy Ophir Energy
    • Mubadala, Repsol and PERTAMINA further expand Indonesian exploration acreage

Tables and charts

This report includes 89 images and tables including:

  • Indonesia 2022 Bid Round I block release
  • India - net oil production by company (2022)
  • B-80 project (Mumbai Offshore Basin)
  • India’s LNG import per year by supply countries
  • Electricity spot prices
  • Queensland domestic gas - Wallumbilla benchmark spot price
  • China shale gas projects
  • Deen Dayal West and UD-1 fields
  • INPEX's participating interests nearby the Ichthys LNG project
  • China’s targeted and actual gas production
  • Block awards across various bid rounds by operator
  • Sarawak and Sabah awarded blocks
  • SK320 and Pegaga field
  • Indonesia 2nd Bid Round 2021: offered blocks
  • Barossa project CO2 emissions without CCS
  • Offshore China PSCs signed by operator
  • Prelude quarterly LNG output annualised
  • Timor-Leste annual production forecast
  • Anambas-2X discovery
  • Our evolving view of gas exports to Thailand
  • India crude oil production by shore status
  • China's 2022 shale output by project
  • Beetaloo play location in Northern Australia
  • CNOOC Ltd share price has underperformed relative to peers
  • Santos & Oil Search combined portfolio
  • Santos Barossa capital expenditure profile
  • MOECO: 2020-2030 production outlook
  • Indonesia's second 2021 licensing round offering
  • Sabah and Sarawak fields
  • Posco and Senex combined production outlook by country
  • Lang Lebah and B14 fields
  • P’nyang Area
  • FLNG effective capacity
  • ‘Big eight’ pre-FID project lead times
  • Indonesia's latest blocks offering
  • Cue Energy net production post acquisition
  • NZOG net production post acquisition
  • Australian proposed regas terminals
  • Eni's producing fields in Pakistan
  • Lang Lebah in SK410B, offshore Sarawak and Rotan in SB H, deepwater offshore Sabah
  • EPT vs R/C comparison - shelf model field
  • The Apsara field lies within Block A, offshore Cambodia
  • Guizhou shale gas open blocks
  • Santos' net-zero emission by 2040 road map
  • Combined Beach Energy and Senex Cooper Basin portfolio
  • Philippines offshore blocks SC 52, SC 57, SC 72 and SC 75
  • Gorgon LNG output forecast
  • Lemang PSC, Central Sumatra, Indonesia
  • Ca Rong Do Development
  • Sichuan basin oil and gas fields
  • Tarim basin oil and gas fields
  • KG-DWN-98/2 block and U-1 field
  • EPP39, Great Australian Bight Basin
  • PEP 50119
  • Mahar discovery
  • Block 115/09 (green) and Eni-operated blocks (yellow) in Song Hong basin
  • MLNG feedgas supply without SSGP disruption
  • Bozhong 19-6 gas condensate field
  • China shale gas production profile
  • Andaman III block, North Sumatra, Indonesia
  • AC/P 64 and Bratwurst discovery
  • PEP 50119
  • T/49P block location
  • Chevron's Entitlement Production, Southeast Asia (kboe/d)
  • Blocks offered in 2020 Malaysia Bidding Round
  • Qiongdongnan Basin fields
  • Duyung PSC Production (275 bcf scenario)
  • Sichan Basin shale fields
  • ExxonMobil Bass Strait production
  • West Erregulla-2 well location
  • North Sokang PSC
  • Blocks offered in 2019 bid round
  • Neptune Energy's entitlement production globally
  • OALP-2 and 3 awards by operator/shore status
  • Block awards under OALP by operator
  • PTTEP and Murphy's Malaysia production
  • MLFW versus different JCC slopes
  • Indonesia 2019 first bid round
  • Tata Petrodyne assets
  • Blocks offered under OALP-3
  • Medco production outlook
  • PFLNG 1 cargoes versus capacity
  • OALP-2 blocks
  • Top 10 2018 IOC upstream producers in SE Asia

What's included

This report contains:

  • Document

    Asia-Pacific upstream in brief archive - H2 2018.pdf

    PDF 1.55 MB

  • Document

    Asia-Pacific upstream in brief

    PDF 22.47 MB

  • Document

    Asia-Pacific upstream in brief archive - H2 2019.pdf

    PDF 1.22 MB