PTTEP

Developing markets in Mozambique, Russia and Papua New Guinea are the new targets for local marine services player Bhagwan Marine.

An array of large and small projects will push WA's petroleum production to 1 million barrels of oil equivalent per day for the first time next year.

Giant liquefied natural gas projects like Gorgon and Pluto dominate coverage of the oil and gas sector, yet there are plenty of other developments under way.

Thai oil and gas firm PTT Exploration and Production Public Company will acquire a subsidiary of OMV Australia that holds interests in the Timor Sea, in a deal valued at about $US10 million ($A11.6 million).