Didn't we?

Tip; just play this ^^^ one.

So where's the oil rig that Kris Energy was using @SternAAlbifrons ? Still sitting out in the sea? I can't imagine that they're cheap to build and maintain so it seems like an asset worth a few million dollars is sitting there and in likelihood will literally rot there as there's very little chance another company will take the chance on drilling for little return. There's usually 3 at any one time sitting off the coast line here in Vung Tau either finished overhauls or waiting to be towed into port for a refit so there not in short supply it seems.

Thanks for that report from over your way, Kahuna. And a good question.

The demand for rigs of this kind in Asia is slowly rising again - but there is still a huge oversupply. (pre-dating Covid oil drop)
The effective owner of this infrastucture is probably Keppel Corp, a Singapore maritime giant.
Keppel is getting right out of oil (to wind generation infrastructure, including offshore, and property) but i expect they will probably salvage this rig. Maybe. It will be fairly easily dismantled (i would think) and they have all their own equipment.
But i can't say for sure.

I am far more worried about this, and all the other wells in the Gulf, including PTT (thai), Chevron and KrisEnergy that have left non-paying wells uncapped.
NB NB This industry is rogue. (fact, not imo)

No way i can see these Cambodian wells being capped.
A crime against the world.

Hey, has anybody please got inside info on Chevron's early dealings with Cambodia, please?
I've got some v interesting info - and pretty sure some of the various professionals here will know a thing or two about how that all went down.
Don't worry - we can get past the listeners if you have anything hard. And anyway, it was a long time ago.
Thanks.

Dossier: The terrifying cost of scrapping the world’s ageing oil and gas rigs

As the world turns away from fossil fuels, one question often overlooked is what to do with the thousands of ageing oil and gas platforms left vacant across the planet. When first built, little thought was given as to what to do with these hulks at the end of their productive lives.
Only now, it seems, are major oil companies waking up to the reality that something needs to be done. (<< Bullshit. Only now are they being called out)

In the Asia-Pacific region alone, nearly 2,600 platforms, 35,000 wells, 7.5 million tonnes of steel and 55,000 kilometres of pipelines will need to be decommissioned over the next decade across a region ranging from India to Papua New Guinea and China to Australia. The potential cost for this could rise above £78billion. Malaysia, Thailand, Vietnam and Indonesia are collectively thought to have around 1,500 structures and 7,000 oil fields that will be either 30 years old or require decommissioning by 2038.

In the Gulf of Thailand, Chevron is faced with 300 platforms and 6,000 wells that must be decommissioned over the next decade. India has a further 300 structures and up to 1,000 oil fields facing the same scenario. Australia expects 40 offshore fields to cease operations over the next decade.
more
https://geographical.co.uk/nature/energ ... r-oil-rigs

Shipping Company Accuses Cambodia of ‘Unethical’ Tactics in Oil Fracas
Oil tanker crew “interrogated” amid dispute between Cambodia and Singaporean firm KrisEnergy
By Luke Hunt
September 29, 2021

The Cambodian government has been accused of using “unpleasant and unethical” tactics in an attempt to win control of 300,000 barrels of oil, currently on board the MT Strovolos, which was seized in July by Indonesian maritime authorities.

Also at stake is the freedom of at least 19 crew members who manned the vessel chartered by Singaporean firm KrisEnergy to support a much-vaunted attempt to produce oil from a field in the Cambodian sector of the Gulf of Thailand.

They were deployed as production began in December last year at Phase 1A, a small-scale pilot in the Apsara oil field, from which KrisEnergy hoped to retrieve 7,500 barrels per day and provide a major revenue stream for themselves and the Cambodian government.

The crude oil on board the MT Strovolos has been valued at $21 million.

“The year 2021 is coming … and we have received a huge gift for our nation – the first oil production in our territory,” Prime Minister HE said in a Facebook post in December.

But since then that deal has fallen apart dramatically.

KrisEnergy acquired its stake in the oil field from Chevron in 2014 after the U.S. oil giant failed to reach a revenue sharing agreement with the Cambodian government.

However, output fell far short of expectations and KrisEnergy, which held a 95 percent stake with the Cambodian government holding the remaining 5 percent, filed for liquidation in June, leaving the Bahamian-flagged MT Strovolos and its crew essentially stranded at sea.

They set sail but were picked up in July off the coast of Sumatra after Phnom Penh issued a red notice through Interpol, seeking the seizure of the vessel, alleging the kingdom’s crude had been stolen.

World Tankers Management (WTM), operator of the MT Strovolos, has vigorously denied any theft occurred and said the vessel was short on fuel and that it had contacted KrisEnergy to resolve its bunkering issues but was told the company could not pay the vessel’s hire.

At that point, WTM says – for the safety of the crew, the cargo, and the vessel – the MT Strovolos set sail for the nearest convenient port to refuel and then headed south to Batam in Indonesia for a crew change.

It also says it has not received proper proof of ownership of the crude and that proper payment is needed before it can release the cargo to any party. It also added that negotiations between Cambodia and KrisEnergy, which theoretically owns 95 percent of the oil, “may not be going well.”

Then, in the early hours of last Friday morning, Indonesian Marine Police boarded the vessel and arrested its crew. According to Singapore-based WTM, they were “interrogated ashore in shifts.”

WTM said it was concerned that Cambodia was using its diplomatic contacts in Indonesia to put pressure on the crew after seeking help from Jakarta in arresting the tanker for oil theft.
https://thediplomat.com/2021/09/shippin ... il-fracas/

SternAAlbifrons wrote: ↑Tue Sep 07, 2021 10:25 pm

Hey, has anybody please got inside info on Chevron's early dealings with Cambodia, please?
I've got some v interesting info - and pretty sure some of the various professionals here will know a thing or two about how that all went down.
Don't worry - we can get past the listeners if you have anything hard. And anyway, it was a long time ago.
Thanks.

I would have thought that the refusal of the company to provide camera footage from the service station during the fatal incident would have been a factor taken into consideration.

Drill rig buggers off after wells are completed.
Normally tanker loading is accomplished by a buoy mooring or production platform.

It all seems rather silly to me

Yobbo wrote: ↑Thu Sep 30, 2021 6:44 pm It all seems rather silly to me

Dream projects vs reality.
OT, but this was another brilliant scheme that failed to develop (due to reality).
business-and-finance/cambodian-owned-sa ... 12006.html

UPDATE

Cambodia News(Phnom Penh): On 28 September 2022, HE Suy Sem Minister of Mines and Energy stated at a meeting in Kep Provincial Hall that nearly 300,000 barrels of crude oil (equivalent to nearly 47 million liters), had been smuggled out of Cambodia via the MT Strovolous ship chartered by Kris Energy for oil storage in the middle of last year.
The Ministry of Mines and Energy has now negotiated to end the matter with the shipping company, with Cambodia receiving 70% of the total oil price. The settlement was reached by both parties with no lawyers or court case. The government negotiated with the shipping company and received 70% of the sale price of oil stored on the ship, which is approximately USD10 to 20 million[sic]. The money has been put into the state budget.

The Minister stated that Kris Energy has been involved in oil pumping operations in five countries including Cambodia, all of which became stalled after the company went bankrupt. He underlined that the halt in Cambodian oilfield operations was not the fault of the government, but was due to the KrisEnergy bankruptcy. The Ministry is currently looking for new companies to continue the oil extraction work.