Asia-Pacific upstream view - December 2014

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07 January 2015

Asia-Pacific upstream view - December 2014

Report summary

December saw significant project deals, start-ups and approvals across the region. First gas was achieved at large projects in Australia (QCLNG) and China (Panyu/Liuhua), while steps were also taken towards the commercialisation of the Lengo field in Indonesia, and Hess’ Equus resource offshore Australia. M&A included the US$5 billion sale of QCLNG’s export pipe to APA, and Repsol’s US$13 billion move for Talisman. PTTEP also cut spending, and BP dropped more Indian acreage.

Table of contents

  • Repsol buys Talisman for US$13 billion
  • BG sells QCLNG export pipe to infrastructure group APA for US$5 billion
  • First LNG from QCLNG
  • CNOOC achieves first gas from four new fields
  • BP left with four Indian blocks, down from 21
  • PTTEP cuts investment spend
  • Indonesia approves Lengo gas development
  • Hess signs deal with North West Shelf LNG JV to develop Equus gas
  • Cambodian government creates new committee to speed OCA resolution

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    Asia-Pacific upstream view - December 2014

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