Page 23 - AsianOil Week 46

AsianOil NEWS IN BRIEF AsianOil

SOUTHEAST ASIA

MISC reports Q3 financial
results KEGOT’s appeal against the dismissal of

Group revenue and operating profit for the KEGOT’s application to restrain Rubicon’s MOL reveals giant LNG
current 9 months period ended 30 September presentation of the winding up petition in the bunkering operation
2020 were higher than the corresponding 9 Cayman Islands has been dismissed, and costs
months period ended 30 September 2019. awarded to Rubicon, by the Court of Appeal Mitsui O.S.K. Lines (MOL) today announced
Group revenue and operating profit for the of the Cayman Islands. The next court hearing that the World’s largest LNG-Bunkering Vessel
quarter ended 30 September 2020 were lower for the winding up petition is scheduled on 24 “GAS AGILITY” carried out LNG Bunkering
than the corresponding quarter ended 30 November 2020. to the world’s largest 23,000 TEU lng-fueled
September 2019. The Group is presently taking advice from container vessel “CMA CGM Jacques Saade”
The Group recorded net loss for the its legal advisers on the next steps moving owned by CMA CGM at Rotterdam Port on
current 9 months period ended 30 September forward. November 13, 2020.
2020 mainly due to the provisions and In relation to the secured creditors of GAS AGILITY is owned by Emerald Green
impairment loss recorded in the first quarter KEGOT, as disclosed in our previous financial Maritime Limited, a wholly owned subsidiary
of 2020 relating to the adverse decision statements, (i) certain subsidiaries of the of MOL, and chartered by Total’s affiliate Total
on arbitration proceedings by Gumusut- Company, which includes KEGOT, have all or Marine Fuels Global Solutions (TMFGS).
Kakap Semi-Floating Production System substantially all their assets pledged under the The vessel supplied about 17,300m3 of LNG,
(L) Limited (GKL) against Sabah Shell revolving credit facility with DBS Bank Ltd which is enough fuel for a round trip voyage
Petroleum Company Limited (SSPC). The (“Secured Assets”); and (ii) noteholders of the between Rotterdam and Asia.
Group also recorded impairment loss on its Group’s senior secured zero coupon notes due Delivered in April 2020 at Hudong-
Heavy Engineering’s asset in the preceding 2024 have a second ranking security interest Zhonghua Shipbuilding, GAS AGILITY is
quarter in light of the current oil and gas over the Secured Assets. the state-of-the-art vessel meeting the highest
downturn, COVID-19 pandemic and the KRISENERGY, November 19, 2020 technical and environmental standards. As
expected prolonged recovery of the industry. increasing number of LNG-fueled vessels are
Excluding the provisions and impairment coming into service, LNG Bunkering Vessel
loss recognised in relation to the arbitration EAST ASIA will accelerate its bright future and contribute
proceedings against SSPC, the Group’s profit to the environment. MOL takes a proactive
before tax for the 9 months period ended INPEX takes FID on Ryomo stance in popularizing the use of LNG fuel
30 September 2020 would have been higher by promoting the development of LNG
than the corresponding period ended 30 gas pipeline fuel supply systems in Japan and overseas
September 2019. including the Global bunkering hubs in North
Group cash flow generated from operating INPEX announced today that it has made a Europe and Singapore, to address today’s
activities for the period ended 30 September final investment decision on the first stage growing environmental demands among both
2020 was higher than the corresponding double tracking of its natural gas trunk customers and society.
period ended 30 September 2019. pipeline “Ryomo Line” to further secure a MOL, November 17, 2020
MISC, November 17, 2020 stable natural gas supply to the northern
Kanto region of Japan, where natural gas
KrisEnergy updates on legal demand is expected to grow steadily. OCEANIA
The first stage double tracking will focus
proceedings with Rubicon on the approximately six-kilometer segment Strike updates on West Erregulla
between Sano City in Tochigi Prefecture
KrisEnergy Ltd., an independent upstream and Tatebayashi City in Gunma Prefecture. Since the last update, Strike carried out the
oil and gas company, refers to its previous The Ryomo Line extends 89 kilometers and installation of the wellhead section for the 13-
announcements dated 5 November 2018, connects Honjo City in Saitama Prefecture 3/8” casing in preparation for drilling ahead
25 July 2019, 15 August 2019, 14 February with Sano City and Tatebayashi City. with the second intermediate hole section.
2020, 27 April 2020, 3 June 2020, 15 June In addition, INPEX will commence a Pressure testing of the wellhead seals was
2020 and 19 June 2020 (collectively, the feasibility study on the fifth stage extension unsuccessful and upon investigation it was
“Announcements”) in relation to claims filed of its “Shin Tokyo Line,” a natural gas trunk found that the slip and seal assembly for the
by Rubicon Vantage International Pte Ltd pipeline extending 213 kilometers from Joetsu 13-3/8” casing connection had failed.
against the Company and its wholly-owned City in Niigata Prefecture to Fujioka City in With the slip and seal assembly not suitable
subsidiary, KrisEnergy (Gulf of Thailand) Gunma Prefecture. for reuse, a new assembly will be required and
Ltd (KEGOT), in relation to a bareboat The company will separately also conduct is currently due to arrive in approximately one
charterparty dated October 2014. Unless a feasibility study on the second stage double week. Strike will now complete remedial and
otherwise defined, capitalised terms herein tracking of the Ryomo Line. INPEX expects preparatory activities before the rig stands by
shall have the same meaning ascribed to them to make final investment decisions based on the arrival and subsequent installation of the
in the Announcements. these feasibility studies in spring 2021. new slip and seal assembly.
Further to the Announcements, in INPEX, November 13, 2020 Following this rectification work, the well
particular the Announcement dated 19 June drilling program will resume as planned.
2020, the Company wishes to update that STRIKE, November 16, 2020

Week 46 19•November•2020 www. NEWSBASE .com P23