Asia-Pacific upstream in brief

Table of contents

• Indonesia launches 2nd bid round of 2024
• PETRONAS ends the year with new block awards
• INPEX bulks up in Malaysia
• Oil India kicks off Andaman drilling campaign
• Tangguh JV green lights US$7bn UCC project
• MinRes offload Perth Basin assets for US$754 million
• Australia takes APAC CCS lead as Santos’ Moomba goes live
• Another DRO awarded: Dewa Cluster to Enquest, PETROS and Seascape
• WA changes course, allows Perth basin LNG exports
• CNOOC in new ultra-deep gas find
• SK wins Ketapu Cluster
• PETRONAS announces Q2 results; themes from Asia Pacific's LNG leaders
• Indonesia awards three exploration blocks
• New Zealand eyes LNG imports to improve energy security
• Finder takes on stranded oil, offshore Timor-Leste
• Tamboran kicks off Beetaloo drilling campaign
• Indonesia modifies Gross Split terms
• Hibiscus adds Malaysia PSC
• Eni gets PoD approval for Indonesia deepwater projects
• PETRONAS celebrates 50th anniversary with Kasawari start-up
• Beach Energy cuts reserves
• Arrow Energy sanctions Surat Gas project expansion
• India proposes changes to Oilfields Act
• Sarawak steps up by awarding new gas sales licences
• How Indonesia is tracking for oil and gas in H1 2024
• No longer a pipe dream –CISEM II gets going
• Jadestone revives Akatara as a gas field
• Sinopec and PetroChina look to expand in Indonesia
• Like buses, Northern Territory GSAs come three at once
• Australia finalising award of offshore acreage
• Genting signs EPCIC contract for West Papua FLNG
• Senex sanctions Queensland gas project expansions
• Tamboran IPO on NYSE
• Petronas farms-into Mailu prospect in deepwater PNG
• Longboat farewells Norway, hello Asia
• Nepal invites first bid round in 27 years
• Beach reveals strategic rethink
• New Zealand proposes rule changes to revive upstream activity
• South Korea’s President approves exploration drilling of oil and gas prospects
• Indonesia launches 1st Licensing Round of 2024
• New Zealand’s gas crash causing concerns
• TotalEnergies acquires remaining 50% of SapuraOMV
• Papua LNG FID delayed by rising costs
• Waitsia gas plant further delayed
• PTTEP hits G1/61 Erawan production target
• Petrobangla launches offshore bid round 2024
• CNOOC reveals China deepwater oil find
• Whale or minnow - Harbour Energy’s Indonesian drilling campaign yields mixed results
• PETRONAS pushes forward
• Strike's South Erregulla-3 well finds water
• Woodside and Santos end merger discussions, no deal
• ONGC brings Mahanadi basin to life with discovery in block MN-DWHP-2018/1
• Drilling for success - Indonesia ends 2023 on target
• INPEX acquires additional interest in Ichthys
• State government bans future projects in Queensland's Lake Eyre Basin
• ONGC starts liquid production from Cluster-2, KG-DWN-98/2
• DGH tweaks OALP–IX bid round
• Criterium Energy acquires Mont D’Or Petroleum
• New Zealand’s upstream outlook under a National-led government
• Santos Barossa drilling plan re-accepted
• PTTEP enjoys more Malaysia exploration success
• OMV splits Sapura and New Zealand asset sale
• Jadestone double CWLH stake
• Lac Da Vang sanction: A sign of better times for Murphy and Vietnam
• Barossa woes continue for Santos
• Ping Petroleum awarded first Late Life Asset PSC
• CNOOC boosts 2023 domestic output by 6.7%
• Chevron acquires Hess: the Asia angle
• Pertamina and EOG Resources test Sumatra shale potential
• Beach discover more Perth Basin gas
• Saudi Aramco enters global LNG business by acquiring stake in MidOcean Energy
• Indonesia launches 3 rd License Round of 2023
• Galilee basin development future remains uncertain
• PipeChina builds a second Sichuan-East pipeline
• Chinese NOCs report production growth but lower net income in Q2 2023
  • Sabah Sarawak Gas Pipeline taps out
• Kumul splits 5% purchase of PNG LNG from Santos
• Shell starts up the Timi field, offshore Malaysia
• Sinopec finds more gas in Sichuan tight reservoirs
• INPEX and TE expand Australia gas footprint
  • More M&A onshore WA
  • Harbour exits Vietnam after 19 years
  • Indonesia launches 2nd License Round of 2023, awards 1st round winners
  • PCSB makes six discoveries offshore Sarawak
  • On target but off-track - Indonesia reports H1 results for crude oil and gas target
  • OALP VIII: DGH receives 13 bids for 10 blocks
  • China’s Xinjiang government incentivise gas production
  • Eni boosts presence in Asia Pacific, acquiring Neptune’s assets in Indonesia and Australia
  • Reliance and BP start-up D-55
  • New LNG project in Australia? Tamboran signs MOUs with BP and Shell
  • North Erregulla Deep-1 gas and oil discovery, Perth Basin
  • More bad news for Eni’s Blacktip field
  • JX Nippon buys small stake in Papua LNG
  • Trigg-1 Perth Basin exploration well unsuccessful
  • PERTAMINA steps up plans on CCS
  • Indonesia flip-flops on LNG export ban
  • Less is more - Indonesia simplifies Gross Split PSC terms
  • ONGC and Reliance are set to bring new supplies from India’s Krishna – Godavari basin.
  • Lockyer Deep appraisal well a duster
  • Sabah's SMJ moves forward with Samarang buy
  • EIG & Brookfield confirm Origin offer; ConocoPhillips joins party
• SEAPEX Exhibition and Conference returns to Singapore for Golden Jubilee
• Indonesia announces long awaited CCS/CCUS regulations
• Chevron and PTTEP win new blocks in Thailand
• Papua LNG enters integrated FEED: electric drive and smaller scale
• ExxonMobil interested in deepwater Bangladesh
• A brief affair: OMV to exit Asia Pacific
• Indonesia awards Petroleum Bid Round 2022 acreage
• CPC buys 10% stake in Dorado, Pavo oil fields
• Malaysia wraps up 2022 PSC awards and launches 2023 bid round
• Chevron exits Myanmar
• Hancock takes control of Warrego
• Beach downgrades reserves at troubled Waitsia
• Jadestone Energy expands into Thailand
• Indonesia approves US$4 billion worth of new developments
• PETRONAS awards three DRO clusters
• PETRONAS sanctions Sabah FLNG3 project
• bp signs 20-year extension for Tangguh
• Malaysia ends year on an exploration high
• Australian offshore regulator revamps approvals
• Shell sells Sarawak Shell stakes to Sarawak State
• PETRONAS Carigali makes significant oil and gas discovery offshore Sarawak
• PERTAMINA targeting double IPO in 2023, in talks to acquire Masela stake
• Vietnam makes amendments to Petroleum Law
• Valeura Energy finds more value in Thailand
• Petronas wins Abu Dhabi unconventional onshore block
• PETRONAS sanctions Kasawari CCS
• Pakistan faces exploration dilemma
• Perth Basin M&A: Beach pips Strike to Warrego
• Brookfield and EIG propose US$12 billion takeover of Origin Energy
• Government approves Eni’s Pakistan exit
• Malaysia plans Asia's first CCS incentives
• Vedanta signs ten-year extension for Mangala
• India offers 26 blocks in the new bid round
• EIG acquires Tokyo Gas' Australia LNG portfolio
• Shell pushes on with another Malaysia FID
• Australian CSG LNG projects sign HOA with government
• IPA Convex returns to Jakarta
• Santos sells down stake in PNG LNG
• Mubadala makes new Sarawak gas discovery
• Origin continues move away from upstream with Beetaloo sale
• Shell greenlights sour gas development in deepwater Sarawak, Malaysia
• Malaysia taps bank of PETRONAS to support economic recovery
• Woodside reports first post-merger financials
• MTJDA secures its future with new arrangement
• ONGC partners with ExxonMobil for deep-water exploration in India
• Santos releases record 2022 half-year results
• 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

Tables and charts

This report includes 184 images and tables including:

• On offer is 49 bboe in estimated resources (P50 unrisked): 26 bboe liquids and 23 bboe gas.
• Indonesia 2024 2nd Licensing Round
• MBR 2024 winners

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• Asia-Pacific upstream in brief

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