BP, representing the Tangguh production sharing contract partners, has announced the successful and safe loading and shipping of the first cargo produced by the new third liquefaction train at the Tangguh LNG facility, located in Papua Barat, Indonesia. This shipment is earmarked for Indonesia’s state-owned power generator, PT PLN (Persero), marking a new phase of […]
Shell Upstream Overseas Services (I) Limited (SUOS), an affiliate of Shell plc, has finalized its divestment of a 35% interest in Indonesia’s Masela Production Sharing Contract (Masela PSC) for a base consideration of $325 million in cash. This deal, which also encompasses the Abadi gas project, comes after attaining the necessary regulatory approval from Indonesia’s […]
Eni, the global energy giant, is celebrating a momentous gas discovery in the waters of East Kalimantan, Indonesia. The Geng North-1 exploration well, situated in the North Ganal PSC about 85 km off the coast, has yielded a staggering preliminary estimate of 5 trillion cubic feet (Tcf) of gas in place, accompanied by up to […]
Singtel, a premier communications technology group in Asia, and global investment giant KKR have cemented a deal wherein KKR will invest up to S$1.1 billion ($800 million) for 20% ownership in Singtel’s regional data centre business. This transaction places the enterprise value of Singtel’s regional data centres at an estimated S$5.5 billion. First-Time Collaboration and […]
Valaris Limited (NYSE: VAL), a leading provider of offshore drilling services, has revealed new contracts and contract extensions with an associated contract backlog valued at approximately $65 million. This announcement comes after the company’s most recent fleet status report issued on August 1, 2023. Notably, this contract backlog figure excludes any lump sum payments like […]
Sulawesi Island in Indonesia had a close shave on Saturday when a 5.9 magnitude earthquake shook the Minahassa Peninsula. According to the German Research Centre for Geosciences, the quake had a depth of 10 km below the Earth’s surface. Incredibly, preliminary reports indicate no casualties or damages, leaving locals and officials breathing a sigh of […]
Coca-Cola Europacific Partners plc (CCEP) and Aboitiz Equity Ventures Inc. (AEV) have announced their intention to jointly acquire Coca-Cola Beverages Philippines, Inc. (CCBPI) from The Coca-Cola Company (KO). The proposed acquisition, valued at US$1.8 billion (on a debt-free cash-free basis), aims to solidify Coca-Cola Europacific Partners’ position as the world’s largest Coca-Cola bottler by revenue […]
Shell’s subsidiary, Shell Upstream Overseas Services (SUOS), has agreed to sell its 35% stake in Indonesia’s Masela Production Sharing Contract (Masela PSC) to local firm PT Pertamina Hulu Energi (PHE) and PETRONAS Masela. This agreement, including the Abadi gas project, sees a base consideration of $325 million in cash, with an extra contingent amount of […]
Italian energy company Eni has announced a significant acquisition of Chevron’s interests in the offshore Indonesian Blocks Ganal PSC, Rapak PSC, and Makassar Straits PSC, located in the Kutei Basin, East Kalimantan. Eni will become the operator of these blocks, where it already holds a 20% non-operating interest in Ganal and Rapak. The purchase marks […]
TVS Motor Company has unveiled its first ‘modern-retro’ motorcycle, the TVS RONIN, in Indonesia, marking a significant foray into the premium lifestyle segment. The motorcycle has been designed from scratch, taking inspiration from modern, new-age riders, and offering a unique riding experience that promotes an ‘unscripted’ lifestyle for the new generation of urban riders. The […]