IS - Lion brings in Taiwanese partner for East Seram seismic - October 2019Taiwan’s NOC CPC Corp. struck a farm-in deal with Australia-listed Lion Energy Ltd. to acquire a non-operated 40% WI in the East Seram production sharing contract in eastern Indonesia. Lion, which will retain an operated 60% WI, said the transaction supports its strategy to focus on the significant potential it sees in the proven, yet underexplored, Seram region. The 6,510-sq-km East Seram PSC contains the southeast extension of the 2 Tcf Lofin gas discovery and a potential offshore...
Oct 15, 2019
IS - Anadarko commits to 12.9 mtpa Mozambique LNG project - July 2019Anadarko Petroleum Corp. has made a final investment decision to develop the
Mozambique LNG project. The company plans to build two LNG trains with an initial
capacity of 12.9 mtpa to support development of the Golfinho and Atum fields within
Offshore Area 1. The initial project sets the stage for future expansion of up to
50 mtpa from the region, ~40 km offshore northern Mozambique in water depth
of ~1,600 meters.
Offshore Area 1 covers ~2.6 million
acres and includes the...
Jul 01, 2019
First shipment leaves Ichthys LNG projectThe first shipment of LNG left the Ichthys LNG project from Darwin in the Northern Territory of Australia and headed to the Inpex-operated Naoetsu terminal in Niigata Prefecture, Japan. The long-delayed $40 billion project is Japan’s single largest overseas energy investment. Ichthys is expected to gradually increase production until it produces 8.9 mtpa over the next two to three years, boosting Japan’s efforts to find additional energy resources. The LNG shipment followed the...
Nov 01, 2018
Inpex starts gas production at Ichthys field off AustraliaThe long-delayed Ichthys LNG project took a big leap forward with operator Inpex commencing gas production at the giant Ichthys gas and condensate field offshore northwest Australia. The gas will ultimately feed an 8.9 mtpa onshore liquefaction plant in Darwin as part of a US$40 billion integrated project with an expected operational life of 40 years.Gas is gathered at the Ichthys Explorer central processing facility with liquids separated and piped to the nearby Ichthys Venturer FPSO....
Aug 09, 2018
Vector enters $30MM financing with AIMCCapital pool company Vector Resources acquired all of the issued and outstanding shares of Razor Energy Corp., a private junior oil and gas company. Razor signed a commitment letter with AIMCo that provides for the financing as a $30 million term loan, which closed concurrent with the deal on Jan. 31. AIMCo also received 20,482,564 resulting issuer shares. Vector completed the consolidation of its common shares on the basis of one post-consolidation Vector share for every 20 pre-consolidation...
Feb 08, 2017
China’s CEFC buys into Taiwanese firm CPC’s Chad oil projectTaiwan’s state-owned oil supplier CPC Corp. sold half of its oil rights in Chad to private Shanghai company CEFC China Energy for US$114 million to reduce its risk and financial burden from the development project. CPC and CEFC now own 35% WI apiece in three oil blocks expected to enter production in late 2017 or early 2018; the Chadian government holds the remaining 30%. CEFC expects initial gross production of 6,000 bo/d with potential to rise to 20,000 bo/d in 2019.This is the first...
Sep 13, 2016
Santos’ Gladstone LNG on stream but low prices loomSantos’ $18.5 billion Gladstone LNG project on Curtis Island, Queensland, started producing its first LNG on schedule and within budget. LNG is being produced from Train 1 ahead of the first cargo, which will be shipped to Asian markets via the LNG carrier Seri Bakti on a maiden delivery to Kogas. So far, Santos and its JV partners have contracts covering 90% of GLNG’s planned 7.8 mtpa capacity. Gladstone is owned by Santos (30% WI, operator), Petronas (27.5%), Total (27.5%) and Kogas...
Sep 24, 2015
CPC acquires 30% stake in Sinopec's Myanmar blockTaiwan's state-run oil refiner CPC Corp. agreed to acquire a 30% stake in Block D onshore Myanmar from China Petrochemical Corp. (Sinopec Group), which in turn had acquired exploration rights for the 2.9 million-acre Block D in 2004, drilled six exploration wells and made three discoveries, according to CPC.The sale is the latest in a series of transactions entered into by CPC with Chinese state-owned oil companies and foreign firms to increase its energy sources. In March, China's CNPC...
Apr 27, 2013
Husky partners with CPC on gas fields off TaiwanHusky Energy Inc. is partnering with Taiwan state oil company CPC Corp. on a seven-year deal to drill for gas off Taiwan's southwest coast. CPC will hold a 25% stake in the project with the option to double that if the partners discover gas.Taiwan has no oil resources of its own, importing most of what it needs from Africa and the Middle East. The country consumes ~1.2 MMbpd.Husky already operates in Southeast Asia, holding a 40% WI in the Wencheng oil field ~400 km southwest of...
Dec 19, 2012
CPC keen on Woodside's Browse LNG projectTaiwan oil refiner CPC Corp is eyeing a ~10% stake in Woodside Petroleum's Browse LNG project in Western Australia. CPC is negotiating details of a multi year LNG supply agrrement with the Perth-based Woodside and is keen on finalizing a contract this year, company spokesman Chen Ming-huei said in a Bloomberg interview. CPC said in 2010 that it extended a preliminary deal to buy LNG from the Browse venture and to continue talks aimed at completing a transaction.Mitsui & Co is also...
Mar 05, 2012
CPC to spend $1.18B yearly for overseas projectsCPC Corp., Taiwan's state-run oil company, plans to invest NT$34 billion or $1.18 billion annually in the next five years to acquire and explore energy resources abroad.
Another NT$30 billion will be spent a year acquiring oil and gas fields in Africa and the Pacific region, the company said in a Dow Jones report.
An official of CPC said that with new investments, the company expects to boost its daily crude output in 2012 to 27,000 b/s from 12,000 b/d. Negotiations for the purchase of oil...
Jul 20, 2011
People Briefs - June 21, 2018Crescent Point Energy’s board has
named Craig Bryksa interim president
and CEO as part of a transformation
plan. He replaces longtime CEO Scott
Saxberg in those positions and
as a director. Bryksa, formerly
VP, Engineering West with
Crescent Point, has been directly
responsible for the operations of each of
company’s core areas throughout his 12-
year history with the organization. The
changes were prompted by charges from
shareholder Cation Capital attributing
Crescent Point’s poor share...
Jun 21, 2018