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Oil & Gas Journal: No 13/2013
Nymex crude oil retreated 1.3% to US$93 per barrel Thursday (May 23), dragging down energy stocks worldwide. BP ended lower by 1.2% in London, while ExxonMobil slipped 0.13% in New York. In this report: (1) Pan Orient's Indonesian Operation, (2) Salamander Energy's Bedug-1 Discovery, etc. ,Last Updated ( Thu, 23 May 2013)
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| Targeting Ande Ande Lumut Project
ASX-listed AWE Limited believes it is on track for completion of the farm-out of Ande Ande Lumut field, located within Northwest Natuna production sharing contract (PSC) in the third quarter of 2013, targeting a final investment decision on the field development before the end of the year. (Mon, 20 May 2013)
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| Oil & Gas Journal: No 12/2013
In contrast to the general gloomy outlook of Indonesian oil and gas activities, UK-based Premier Oil Plc reported strong performance and continues to move forward with its plans. After gas discovery at Medco-operated Matang well, Premier plans two wells drilling in the fourth quarter of this year. (Thu, 16 May 2013)
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| More Articles |
| • Stanchart PE: Another Oil & Gas Investment | Oil And Gas | Standard Chartered Private Equity (Singapore) Pte Ltd is known for its investment in ASX-listed Triangle Energy Ltd, which struggled to get extension of Pase Block contract in Aceh. Today, Energy World Corporation (EWC) Ltd, another ASX-listed company with energy operations in Sulawesi, announced a more substantial investment from the private equity arm of Standard Chartered Bank. | |
| • Dysfunctional Government: Cabotage Ruling | Oil And Gas | Two years ago, when Rudi Rubiandini was deputy operation control of then BPMigas (Upstream Oil and Gas Regulatory Body), he already warned that implementation of cabotage principle for drilling rig and offshore production facilities, pursuant to Government Regulation No. 21/2011, would threaten the country's oil and gas production. | |
| • Energi Mega: Bakrie's Saviour? | Oil And Gas | Energi Mega Persada (ENRG), oil and gas company controlled by Bakrie Group, has just released its 2012 results, wherein it booked net profit of US$15.3 million, representing a 30% jump from 2011 on substantially higher sales revenue and improved margins. | |
| • Oil & Gas Journal: No 11/2013 | Oil And Gas | SKK Migas has formally asked the government to revise down its 2013 oil lifting target from 900,000 barrels to 840,000 barrels per day. Energy and mineral resources, meanwhile, also asks for revision of crude oil price target, because the average realized price of Indonesian crude price was way above 2013 State Budget target, risking higher costs of fuel subsidies. | |
| • Masela Block & Maluku Politics | Oil And Gas | Masela Block, where Abadi LNG project is located, is one of oil and gas blocks targeted by various business and political groups in the country. Initially fully controlled by Japanese company Inpex Ltd (partner of Total in Mahakam Block), Shell and Bakrie Group have entered the block in the past few years. | |
| • Oil & Gas Journal: No 10/2013 | Oil And Gas | Nymex crude oil spiked closer to US$96 per barrel Friday (May 3rd), lifting shares of most oil and gas producers worldwide. TSX Venture-listed Rift Basin Resources Corp, meanwhile, has entered into a memorandum of understanding to develop Dandangilo & Beji Block in Indonesia. How about Niko Resources Ltd, another TSX-listed company with over 20 oil and gas blocks in Indonesia? | |
| • Targeting Rapak-Ganal Project | Oil And Gas | Rapak Ganal is one of the largest natural gas projects in the country developed by Chevron in East Kalimantan. Like Mahakam Block, the key supplier of natural gas to Bontang LNG, the project is also target of various business and political groups in the country. | |
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