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South East Asia Industry News – August 2014

Malaysian oil field services firm Bumi Armada Bhd’s wholly-owned Indonesian unit has won a $1.18 billion contract. The consortium will supply a floating production, storage and offloading (FPSO) vessel for Madura BD Field which is owned by Husky-CNOOC Madura Ltd and is east of Surabaya. The project includes Bumi’s wholly-owned unit Bumi Armada Offshore Holdings Ltd and partner PT Armada Gema Nusantara. The project is underway as part of a 10 year contract.

EnQuest Plc has agreed to acquire ExxonMobil’s interest in the Seligi oilfield off the shore of Penninsular Malaysia for a sum of $67 Million. Seligi has been developed via a production / gas compression platform complex in 73m of water, connected to satellite platforms on four other fields. EnQuest will tie up with Petronas to extend development through 2033.

Hyundai Heavy Industries (HHI) has been issued an LOA by Hess Corp for a new Central Processing Platform as well as a wellhead platform for the Bergading complex – located in the North Malay Basin. Facilities are set to be completed by the end of 2016

Kris Energy has been given approval to develop the Wassan oilfield license in the Gulf of Thailand, using a converted Bethlehem Mat type jackup and a mobile offshore production unit producing to an FSO. The jackup will have capacity to produce up to 20,000 b/d of oil.

Carigali-PTTEPI Operating Co. Sdn . Bhd has commissioned SapuraKencana Petroleum to construct and install four wellhead platforms and associated subsea pipelines. These will serve the N-17 and B-17-01 fields in the Thailand – Malaysia joint development area. Platform completion is expected to be September 2017.

Oil and Natural Gas Corporation (ONGC) is looking to further redevelop its Mumbai High North Field off India’s west coast. The initial plan is now adding five additional wellhead platforms, modifications to thirteen existing installations and drilling 52 new wells and 24 side-tracks. Scheduled date of completion is May 2017.

According to Energy Maritime Associates, the number of floating production systems is on the rise, with inventory hitting 264 units,. FPSO’s account for 60% of this figure, with the balance being made up of semis’ TLP’s, production spars and production barges and floating storage and regasification units (FSRU). Currently, there are 65 production floaters, eight FSOs and four MOPUs on order worldwide.