Page 13 - AsianOil Week 35

AsianOil
NEWS IN BRIEF
AsianOil
NYK, Total sign shuttle tanker charter
NYK Group company Knutsen NYK O shore Tankers AS (KNOT), of which NYK has a 50% share, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with Total which is a leading oil and energy company headquartered in France, for its Brazilian activities.
e contract aims to use a 152,000 DWT Suezmax tanker equipped with a dynamic- positioning system built in China by COSCO (Zhoushan) Shipyard to shuttle crude oil produced in waters o Brazil.
With this new building, the KNOT Group will have 32 shuttle tankers in operation or on order.
In accordance with its medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group will continue its e orts to provide stable and economical energy-transport services in the shuttle tanker and o shore businesses.
NYK Group, August 28, 2019
Mitsubishi Shipbuilding
christens next-gen LNG
carrier
Mitsubishi Shipbuilding, a Group company
of Mitsubishi Heavy Industries (MHI)
based in Yokohama, held the christening ceremony on August 30 for a next-generation LNG (lique ed natural gas) carrier under construction for Mitsui & Co. e ship, named MARVEL HERON, is Mitsubishi Shipbuilding’s newest carrier that achieves signi cant improvements in both LNG carrying capacity and fuel performance through adoption of a more e cient hull structure and an innovative hybrid propulsion system. A er completion scheduled in September, the MARVEL HERON will go into service primarily transporting LNG for the Cameron LNG Project, in which Mitsui is a participating partner.
e well-attended christening ceremony was held at the Koyagi Plant of MHI’s
Nagasaki Shipyard & Machinery Works.
Mitsui Representative Director and Executive Managing O cer Yoshio Kometani proclaimed
the formal christening, and Mrs. Kometani performed the ceremonial rope cut.
e MARVEL HERON is the second
LNG carrier of its type built by Mitsubishi Shipbuilding for Mitsui. It features LOA (length overall) of 297.5m, width of 48.94m, depth of 27.5m, and dra of 11.4m. Deadweight capacity is approximately 79,000 tons, and the total holding capacity of the tanks is 177,000m3.
e order for the MARVEL HERON was received through MI LNG Company, Limited,
a joint venture established by MHI and Imabari Shipbuilding Co., Ltd. to design and market newbuilding LNG carriers. Construction was undertaken by Mitsubishi Heavy Industries Marine Structure Co., Ltd., a Nagasaki-based MHI Group company, and launching took place on February 2, 2019.
MITSUBISHI HEAVY INDUSTRIES, September
2, 2019
WFWAdvisesHoeghLNGon first FSRU sale/leaseback
Watson Farley & Williams advised Hoegh LNG on its rst ever sale and leaseback deal with China Construction Bank Financial Leasing (CCBFL) for its tenth Floating Storage Regasi cation Unit (FSRU), the Hoegh Galleon, which was delivered today (27/08/2019) and has been taken back on charter by Hoegh LNG for twelve years.
Following the completion of the transaction, Hoegh LNG is now fully funded with both equity and debt for its current newbuilding programme, which will be completed with the delivery of Hoegh Galleon in August 2019.
e Hoegh Galleon has been employed on an 18-months interim LNGC time charter with Cheniere before its intended long-term charter with AIE in Australia.
Hoegh LNG, the only FSRU operator with operations in China via its contract with energy giant CNOOC, is also to set up a representative o ce in Shanghai as part of its expansion plans in that country.
Oslo-based Höegh LNG is a leading worldwide owner and operator of oating LNG import terminals and FSRUs, and one of the most experienced global operators of LNG Carriers. It is comprised of Höegh LNG Holdings and Höegh LNG Partners. WATSON FARLEY & WILLIAMS, AUGUST 27, 2019
OCEANIA
Kupe JV reach FID
A nal investment decision for a compression installation project has been approved by partners in the Kupe joint venture.
e inlet compression project will reduce inlet pressure and allow extension of the plateau production rate, while maximising recovery from the Kupe eld. e cost for the 4% New Zealand Oil & Gas share of the compression project is less than NZ$4mn. It is expected to be completed in mid-2021. e Kupe gas elds will produce at below maximum plant capacity until then. Once completed, the aim of compression is to restore production to the maximum rate of 77 terajoules per day. e compressor project production pro le and costs have been included in previously published New Zealand Oil & Gas reserves and cost assumptions.
e Kupe production plant onshore South Taranaki will be shut in for maintenance for about a month in November this year.
e partners in the Kupe joint venture are: Beach Energy (Operator) 50%; Genesis Energy 46%; New Zealand Oil & Gas 4%.
NEW ZEALAND OIL & GAS, August 28, 2019
Metgasco,Bridgeportsign farm-in agreement
e board of Metgasco is pleased to announce that it has executed a binding farm-in agreement with Bridgeport (Cooper Basin), a highly experienced Cooper/Eromanga focussed JV party, in respect of its Cooper/Eromanga Basin asset ATP 2021. Metgasco will be free carried through the rst exploration well on ATP 2021 planned for Q4 CY 2019, and will retain a 25% non-operated interest.
e agreement provides for the farminee to earn a 25% non-operated interest in Metgasco’s Cooper/Eromanga Basin licence ATP 2021. e farm-out agreement terms provide for the farminee to: fund 32.5% of the rst exploration well drilled, up to a maximum joint venture gross cost of $5.3 million (with the farminee’s share being up to $1.72 million); fund 32.5% of Metgasco’s share of future exploration costs in relation to ATP 2021 up to a maximum cap of $A812,000 gross (A$263,900 net)
e contribution from the farminee in respect to the well and exploration costs are anticipated by end Q1 CY 2020.
e farm-out agreement is binding, and subject to certain standard formal conditions including ministerial approval and license registration, with Metgasco and the farminee expecting nal licence transfer documentation by October 2019.
METGASCO, August 29, 2019
Week 35 04•September•2019
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