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India Starts Auction of Oil, Gas Exploration Areas (Update2)
India started its largest auction of oil and gas fields, offering 70 areas for exploration when energy producers are cutting investments because of falling prices and the global recession.
Philipines Mining Exploration Policy, ASEAN Gas Pipeline Agreement
The Manila government’s policy of secrecy was assailed last week with the exposure of an ASEAN gas pipeline agreement that was kept secret by Philippine President Gloria Arroyo over the last six years.
The fisherfolk alliance Pamalakaya insisted the Memorandum of Understanding on the Trans-ASEAN Gas Pipeline which the Philippine government signed with Brunei, Cambodia, Indonesia, [...]
British giant B Group $12.9 billion bid for Origin Energy
BRITISH giant BG Group has launched the biggest-ever foreign takeover in the Australian energy sector with a $12.9 billion bid for Origin Energy.
The unsolicited bid, which will require the approval of the Foreign Investment Review Board, comes as companies from resource-hungry countries such as China pursue takeovers across the Australian mining and energy sector.
Origin Energy [...]
Line-of-Equity Financing for Oil and Gas Exploration Company Asia Pacific Exploration
Pine Brook Road Partners, LLC, a New York-based private equity firm established to make business building and growth capital investments, primarily in the energy and financial services sectors, today announced it has led an investor group to provide a $380 million line-of-equity commitment to Asia Pacific Exploration Consolidated, L.P. (“APEC”).
APEC is a privately owned oil [...]
Kencana Petroleum agreement with Mermaid offshore drilling and service
Kencana Petroleum’s subsidiary, Kencana Petroleum Ventures Sdn. Bhd. has entered into a shareholder’s agreement with Mermaid Drilling (Singapore) Pte. Ltd. to form a company to be known as “Kencana Mermaid Drilling Sdn. Bhd.” The new entity will carry on the business of offshore drilling and drilling related services in the oil and gas industry in [...]
Singaporean company approach Oil and gas explorer and producer Cue Energy Resources Ltd
Singapore Petroleum Company Ltd (SPC) informally approached the company about ‘the possibility of close cooperation and integration of each company’s exploration and production businesses’, according to a statement issued by Cue Energy.
A Cue Energy spokesman told AAP this meant the possibilities being discussed include a merger.
“It is not a takeover approach or anything like that,” [...]
Singapore Petroleum Company signed Contract Production Sharing with CNOOC
CNOOC Limited has signed a Production Sharing Contract with Singapore Petroleum Company Limited for block 26/18.
The block 26/18 is located in Pearl River Mouth Basin. The block covers a total area of 4,961 square kilometers, with water depth of 85 – 200 meters.
Under the terms of the contract, SPC will conduct 2D seismic survey and [...]
Brunei Darussalam’s oil and gas exploration ready to be drilled in a few days
Brunei Darussalam’s oil and gas reserves are bound to increase with a new oil well ready to be drilled in a few days time. TOTAL E&P Borneo BV has taken a giant stride in exploration with its MLJ2-06 High Pressure and High Temperature (HPHT) project marking another milestone in Brunei’s oil and gas development.
The Minister [...]
American Electric Technologies Wins $1 Million Contract with Ventech Engineers
American Electric Technologies, Inc. the premium supplier of custom-engineered power delivery solutions for the generation, transmission and utilization of energy, announced today that it has entered into an agreement worth more than $1 million to provide custom-engineered M&I Electric power delivery system components to Ventech Engineers International Corporation for a refinery rebuild project in development. [...]
