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Global and Regional Markets

Keppel to exit offshore rig building business

Keppel Corp announced today that, amidst the global energy transition and major disruptions facing the oil industry, the company will carry out a comprehensive transformation of its wholly owned subsidiary, Keppel Offshore & Marine (Keppel O&M). The goal is to create a more competitive Keppel O&M that is well-placed to support the energy transition.

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Premier completes farm down of Tuna PSC interest offshore Indonesia

Under the farm down agreement, Zarubezhneft will carry Premier for its share of a two-well campaign to appraise the Tuna discoveries offshore Indonesia, scheduled to commence in the second quarter of this year. In addition, the companies secured Indonesian government approval for a one-year extension to the exploration period of the Tuna PSC to March 2022.

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Newly discovered South African gas fields offer no clear route to market

While large offshore discoveries at Brulpadda and Luiperd offer South Africa the chance to develop significant gas resources, there is no clear route to commercialization for operators in the area, according to GlobalData. Development of the country's gas resources face competition from established imports flowing from Mozambique, among other things.

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