Page 12 - AsianOil Week 35

AsianOil
NEWS IN BRIEF
AsianOil
SOUTHEAST ASIA
Jadestone post H1 results
Jadestone Energy, an independent oil and gas production company focused on the Asia Paci c region, reported today its consolidated interim unaudited results, as at and for the three-month and six-month period ended June 30, 2019.
Net revenue during the second quarter of US$115.3mm, more than double Q1 2019
and nearly seven times Q2 2018. Net revenue for the six-month period to June 30, 2019 was US$171.7mm compared to US$35.8mm for H1 2018.
Positive cash generated from operations of US$59.3mm, before changes in working capital, interest and taxes, in Q2 2019, a more than
60% jump on Q1 2019 cash from operations
of US$36.7mm, and compared to US$0.1mm for the same quarter a year ago. Cash generated from operations over the six-month period to June 30, 2019 was US$96.4mm compared to a net out ow of US$0.3mm for H1 2018.
Average price realisations of US$71.70/bbl, an increase of 6% over Q1 2019. Di erentials at Montara and Stag continue to improve, with the latest li ings achieving total di erentials to Dated Brent of US$4.32/bbl and US$10.60/bbl respectively.
Operating costs of US$21.74/bbl, excluding non-routine opex, including the Montara riserless light well intervention (RLWI), decreased by 9% from the prior quarter of US$23.75/bbl, and down 34% from the same quarter a year ago of US$32.70/boe. JADESTONE ENERGY, August 27, 2019
Sembcorp clinches conversion contracts
Sembcorp Marine Rigs & Floaters has signed agreements with joint venture companies of Shapoorji Pallonji Oil and Gas Private Limited and Bumi Armada Berhad to convert Ariake, a
very large crude carrier (VLCC), into a oating production, storage and o oading (FPSO) unit for deployment in the east coast of India. e vessel will produce up to 90,000 barrels of oil per day (BOPD) and have a 1.3-million-barrel storage facility.
e project includes hull repairs and upgrading as well as fabrication of at least three topside modules which Sembcorp Marine will install on the vessel. e work will be done at its agship Tuas Boulevard Yard, with delivery scheduled in the second half of 2021.
“We are excited to work with Shapoorji Pallonji and Bumi Armada on the Ariake FPSO conversion, which will enhance Sembcorp Marine’s visibility in the Indian o shore oil and gas sector,” said Sembcorp Marine Head of Rigs & Floaters Mr William Gu.
Sembcorp Marine Repairs & Upgrades
has added three new gas projects to its
portfolio, namely: Conversion of LNG tanker Dwiputra into a 125,000cbm oating storage and regasi cation unit (FSRU) for a joint venture between Mitsui O.S.K. Lines (MOL) and Karpower International; Conversion of NYK Line’s former gas carrier LNG Flora into
a 127,000cbm oating storage unit (FSU) for Gas n Development; and Upgrading works on the 173,400cbm FSRU BW Magna for BW LNG.
All three projects will be completed at Sembcorp Marine Admiralty Yard, for delivery between the end of this year and February 2020. SEMBCORP MARINE, September 2, 2019
Pertamina expands digitalisation of business
To improve external and internal services, Pertamina continues to expand this year’s digitalization transformation into a wider number of business processes, from upstream to downstream.
At least there are 6 main digitalization programs carried by the company that have the potential to bring value up to Rp 3-5 trillion per
year. e six programs are Loyalty Program, Digital Re nery, Knowledge Management & Best Practice in Upstream, Digital Procurement, Corporate Digitalization and Digitizing Gas Station & Fuel Terminal.
In the upstream sector, Pertamina has carried out a digital transformation by building Upstream Cloud and Big Data Analytic, as
part of optimizing the use of centralized and integrated Petrotechnical applications. While in processing, Pertamina is preparing an integrated predictive maintenance through the adoption
of advanced analytics, thus minimizing the occurrence of unplanned shutdown.
Downstream, Pertamina continues to
carry out its main program of digitizing gas stations & fuel terminals, so that it can monitor the resilience of fuel stocks and distribution nationally. In addition, in the process of procurement of goods and services, Pertamina also applies Digital Procurement which is predicted to contribute the greatest e ciency, around Rp 1.5-2 trillion per year.
PERTAMINA, August 29, 2019
EAST ASIA
Beijing Gas Blue Sky signs
co-operation agreements
with China Sam, Sinoenergy
Beijing Gas Blue Sky Holdings is pleased
to announce that it has entered into cooperation framework agreements with China Sam Enterprise Group, a national high- tech enterprise, and Changchun Sinoenergy Corporation, a company listed on the Shanghai Stock Exchange.
e company entered into a cooperation agreement with China Sam to establish a comprehensive strategic cooperation in terms of, among other things, (i) establishment of a close business relationship; (ii) exploration of the opportunities on the Belt and Road Initiative; (iii) establishment of fund for the merger
and acquisition of companies in natural gas industry; (iv) utilisation of the Chaozhou and Jiangyin lique ed natural gas (“LNG”) receiving terminals invested by Sinoenergy Corp to secure low cost and stable supply of LNG; and (v) collaboration on oil and gas exploration, etc.
e company also entered into a cooperation agreement with Sinoenergy Corp to establish a comprehensive strategic cooperation in terms of, among other things, (i) collaboration on energy project; (ii) establishment of a close business relationship in relation to logistic and trading
of energy resource and LNG supply; and (iii) collaboration on oil and gas exploration, etc. BEIJING GAS BLUE SKY, September 2, 2019
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Week 35 04•September•2019