Southeast Asia Looks To Increase Offshore Oil Production » EntornoInteligente

Southeast Asia Looks To Increase Offshore Oil Production

Entornointeligente.com / Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 56 mins Sell Buy 59.60 -0.17 -0.28% Brent Crude • 10 mins Sell Buy 63.29 +0.13 +0.21% Natural Gas • 56 mins Sell Buy 2.522 +0.002 +0.08% Heating Oil • 56 mins Sell Buy 1.810 +0.002 +0.11% Gasoline • 56 mins 1.959 +0.008 +0.38% Louisiana Light • 2 days 61.77 +0.38 +0.62% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 2 days 61.77 +0.38 +0.62% Bonny Light • 2 days 60.60 -1.64 -2.63% Opec Basket • 2 days 60.68 -0.65 -1.06% Mars US • 14 mins 59.75 -0.17 -0.28% Gasoline • 56 mins 1.959 +0.008 +0.38% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Marine • 2 days 60.98 -0.24 -0.39% Murban • 2 days 61.36 -0.68 -1.10% Iran Heavy • 2 days 57.58 -1.37 -2.32% Basra Light • 2 days 63.22 +0.69 +1.10% Saharan Blend • 2 days 60.42 -1.20 -1.95% Bonny Light • 2 days 60.60 -1.64 -2.63% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 2 days 60.60 -1.64 -2.63% Girassol • 2 days 60.85 -1.58 -2.53% Opec Basket • 2 days 60.68 -0.65 -1.06% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Canadian Crude Index • 2 days 49.14 +0.08 +0.16% Western Canadian Select • 16 hours 49.42 +0.44 +0.90% Canadian Condensate • 16 hours 58.77 +0.44 +0.75% Premium Synthetic • 16 hours 60.17 +0.44 +0.74% Sweet Crude • 16 hours 56.67 +0.44 +0.78% Peace Sour • 16 hours 55.77 +0.44 +0.80% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 16 hours 55.77 +0.44 +0.80% Light Sour Blend • 16 hours 56.27 +0.44 +0.79% Syncrude Sweet Premium • 16 hours 59.77 +0.44 +0.74% Central Alberta • 16 hours 55.32 +0.44 +0.80% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

Louisiana Light • 2 days 61.77 +0.38 +0.62% Domestic Swt. @ Cushing • 17 hours 56.25 -0.25 -0.44% Giddings • 17 hours 50.00 -0.25 -0.50% ANS West Coast • 3 days 62.68 +0.48 +0.77% West Texas Sour • 17 hours 53.55 +24.55 +84.66% Eagle Ford • 17 hours 57.50 +24.50 +74.24% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 17 hours 57.50 +24.50 +74.24% Oklahoma Sweet • 17 hours 56.25 -0.25 -0.44% Kansas Common • 2 days 50.00 +0.50 +1.01% Buena Vista • 2 days 66.11 +0.44 +0.67% Click Here for 150+ Global Oil Prices

Start Trading CFDs Over 2,200 Different Instruments

Click Here for 150+ Global Oil Prices

1D 1M 3M 1Y All Charts Discussion Headlines 30 mins Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts 2 hours U.S. LNG Exports Fall From Record Highs 6 hours Oman’s State-owned Oil Company QQ Mulls IPO 7 hours Biden’s Plan Looks To Eliminate $35 Billion Fossil Fuel Subsidies   8 hours M&A In U.S. Oil And Gas To Hit $3.4 Billion In Q1 2021 9 hours U.S. Shale Giant Thanks OPEC+ For ‘Brilliant’ Market Rebalancing Efforts 1 day China Started More Coal Plants Than The Entire World Retired In 2020 1 day China’s ‘Official’ Oil Imports Drop As It Buys More Iranian Crude 1 day U.S. Jobs In Nuclear And Oil Sectors Pay More Than Renewables 1 day Biden Is About To Give Heavy Oil Demand A Major Boost 1 day Texas Freeze To Hit Shell’s Q1 Earnings 1 day EIA: Gas Prices At the Pump Could Hit 3-Year High 2 days Oil Prices Under Pressure Following Large Gasoline Build 2 days Hedge Funds Capitalized On Oil Price Pullback 2 days Canada’s Green Shift Could Displace Three-Quarters Of Oil Workers 2 days Oil Trading Giant Vitol Sees Revenues Drop In 2020 2 days BP On Track To Meet Net Debt Target Ahead of Schedule 3 days U.S. Energy Consumption Saw Biggest Decrease Ever Last Year 3 days Copper Prices Jump After Leading Producer Chile Closes Its Borders 3 days Record High COVID Cases Could Stall India’s Oil Imports 3 days Lawsuits Pour In After Texas Freeze Pushes Bills Sky-High 3 days Tesla Stuns With Record Q1 Delivery Numbers 3 days Suez Canal Traffic Jam Clears 6 days U.S. Govt. Says Federal Land Drilling Program Is “Broken” 6 days Mozambique Says Total’s LNG Project Is Safe From Militants 6 days U.S. And Iran Set To Hold Indirect Talks On Nuclear Deal 6 days India Set To Review ‘Unfair’ Oil Import Contracts With Saudi Arabia 6 days EVs, Smart Appliances Pose Cybersecurity Risks 7 days Oil Demand Boosted By Highest Number Of Flights Since COVID Started 7 days Biden Administration Studies If EVs Can Enter Biofuel Credit Program 7 days Big Oil Beats NYC Appeal On Climate Change Lawsuit 7 days ExxonMobil Set To Outperform As Oil And Gas Prices Climb 7 days U.S. Calls On Saudi Arabia To Ensure Supply Of Affordable Energy 8 days Shock Of The Week: Poll Reveals U.S. Pipelines Aren’t Actually Unpopular 8 days Volkswagen’s EV-Friendly Name Change Was Bad April Fools’ Joke 8 days Chinese Smartphone Giant Makes $10 Billion Bet On EVs 8 days Libya’s Oil Production Set To Stabilize In 2021 8 days China’s Refiners Are An Existential Threat To Regional Competitors 8 days Google, Samsung, BMW And Volvo Support Ban On Deep-sea Mining 8 days MBS: Aramco And SABIC To Lead $1.3 Trillion Investment Push 4 mintues Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen. 7 minutes Forecasts for oil stocks. 9 minutes Biden’s $2 trillion Plan for Insfrastructure and Jobs 13 minutes European gas market to 2040 according to Platts Analitics 3 hours Biden about to face first real test. Russia building up military on Ukraine border. 28 mins Trump punches back at Fauci and Birx’s revisionist history (aka lies) 5 days U.S. Presidential Elections Status – Electoral Votes 45 mins Simple question: What is the expected impact in electricity Demand when EV deployment exceeds 10% 1 day The coming Cyber Attack 13 hours Create a new law “Postericide” to prosecute and imprison Climate Change “Deniers” 8 hours Goldman Betting on Cryptocurrencies 1 day America’s pandemic dead deserve accountability after Birx disclosure 2 days New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2 4 days Beware the Left’s ‘Degrowth’ Movement (i.e. why Covid-19 is Good) 4 days Forecasts for Natural Gas 5 days What Countries Will Fight Over When Green Energy Dominates Breaking News: Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts

Find us on:

OPEC’s Production Rises In March As Iran Boosts Output A large increase in Iranian…

Canadian Oil Lobby Declares War On Netflix Netflix is drawing the ire…

Why The World’s Largest Oil Company Won’t Cut Dividends Despite a major drop in…

Home Energy Crude Oil Felicity Bradstock

Felicity Bradstock is a freelance writer specialising in Energy and Finance. She has a Master’s in International Development from the University of Birmingham, UK.

More Info

Share Facebook Twitter Linkedin Reddit Premium Content Southeast Asia Looks To Increase Offshore Oil Production By Felicity Bradstock – Apr 08, 2021, 4:00 PM CDT Join Our Community Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries.

The governments from both countries signed a unitisation agreement to develop the Gumusut-Kakap and Geronggong-Jagus East offshore oil fields. Development will be managed by Malaysian state-owned Petronas and Brunei’s National Unitisation Secretariat (NUS). 

The agreement took place during Prime Minister Tan Sri Muhyiddin Yassin’s visit to Brunei. It is one of several initiatives that was agreed upon during the official visit.  

“Having now formalised this landmark agreement, PETRONAS believes that both parties can look forward to continuing the strong momentum towards developing our nations’ energy sectors for the long-term growth and prosperity of both Brunei and Malaysia.” Tengku Muhammad Taufik Tengku Kamadjaja Aziz, Petronas president and group CEO, said of the agreement .

The Gumusut-Kakap field waters reach a depth of 1,200m, allowing for the development of two ultra-deepwater projects, Gumusut and Kakap. The field consists of 19 undersea wells. The maritime border location provides a new area of development for the oil industry in both countries. 

Malaysia and Brunei are also expected to sign a memorandum of understanding on Transport Cooperation to develop their partnership in the areas of safety, security, intelligent transport systems and logistics. In addition, the two states could soon also reach a modernised Air Services Agreement and are expected develop their partnership to enhance gas resources across the two countries. 

In the 23rd Annual Leaders’ Consultation, held in Brunei, the national leaders from both states solidified existing commitments to information and communication technology, agriculture – food supply chains and distribution, trade and tourism. 

Related Video: Iran’s Oil Exports Render Sanctions Irrelevant

This is not the only oil project to come out of Brunei in recent weeks. In late March, the government of Brunei announced plans to triple oil production over the next five years as Brunei Shell Petroleum (BSP) began exploratory drilling in deepwater wells.

BSP is preparing to drill deepwater exploration wells Merbah Deep-1 and Jagus Subthrust-1. The company has had a significant stake in Brunei oil since the discovery of the Seria field in 1929 , with around 4,000 employees and over 20,000 contractors at present.

Brunei’s Ministry of Energy said of the development last week, “Both exploration wells will form a key test in proving new hydrocarbon volumes and opening up the deepwater, further in alignment to the ministry’s strong emphasis to the operators to develop existing deepwater fields in the near to mid term”. 

The government hopes to expand national production to 350,000 bpd equivalent by 2025, owing largely to deepwater digging. This is a significant increase from the 2020 dip to 105,100 bpd. 

As well as being hit hard by the Covid-19 pandemic, with four consecutive quarters of negative growth in 2020, Brunei’s oil industry has been declining since 2006. However, greater investment from BSP and the new exploration agreement with Malaysia could see the oil and gas industry develop substantially over the next decade. 

By Felicity Bradstock for Oilprice.com

More Top Reads From Oilprice.com:

Forget OPEC Production Cuts, It’s Exports That Matter

World’s Largest Lithium Producer: Get Ready For A Mega-Rally

U.S. Oil Production Is About To Climb Download The Free Oilprice App Today
LINK ORIGINAL: Oilprice

Entornointeligente.com

URGENTE: Conoce aquí los Juguetes más vendidos de Amazon

www.smart-reputation.com
Smart Reputation

Noticias de Boxeo

Boxeo Plus
Boxeo Plus
Repara tu reputación en Twitter con Smart Reputation
Repara tu reputación en Twitter con Smart Reputation

Adscoins

Smart Reputation

Smart Reputation