Page 15 - FSUOGM Week 48 2021

FSUOGM NEWS IN BRIEF FSUOGM

will start from scratch after the Ploieşti energy sector of the republic [of Moldova].” “taking the typical exploration program
Court of Appeal scrapped on November 25 “Gazprom expects that the Moldovan and adding an appraisal focus that, in
the sentences given by lower courts. The side will take definitive measures to addition to providing robust gas content,
decision is final, News.ro reported. stabilise the situation and ensure the stable composition and saturation data, will
Romanian prosecutors announced fulfilment of its contractual obligations to provide permeability data in each of the
in August that they had completed their Gazprom in full,” Russian news agency Tass high-graded seams across the area”.
investigations into alleged fraud at the quoted the official. Commenting on the commencement
local Lukoil refinery and indicted the "All this week, the Moldovan authorities of drilling, Jade executive director, Joseph
Russian-owned Petrotel refinery, its Russian have publicly reported how they are saving Burke, said: “We are very pleased to have
director-general and five other officials. the country and arranging allocation of commenced our six well drilling program,
Prosecutors estimated the losses to the state money for an overdue payment to Gazprom. which has been designed to initially
at RON7.6bn (€1.76bn), and seized shares There is nothing heroic in this. Paying demonstrate productivity. The team has
and bank accounts of companies belonging under a contract is normal," Kupriyanov done an amazing job assembling a robust
to the Lukoil Group worth €2bn. added. drilling program which gives us high
Prosecutors have brought charges confidence that it will meet our objectives
against Petrotel Lukoi Ploiesti and former of validating gas content, determining
members of its top management — Andrey saturation and composition and measuring
Iurevici Bogdanov, Andrei Rata, Dorel CENTRAL ASIA & SOUTH permeability. We will also look to broaden
Dutu, Alexey Vointsev, Olga Kuzina and the area of investigation as we build on the
Dan Danulescu. CAUCASUS historical work from our 2019 eight well
Some of the accusations concern prospecting program.”
transfer pricing practices between 2011- Jade Gas commences
2014, when the refinery’s managers
concluded contracts for the purchase of drilling at TT CBM gas
crude oil and for the sale of petroleum Berdimuhamedov places
products at prices that were not favourable project in Mongolian
to the company, prosecutors concluded. son Serdar in charge of
Separately, there are allegations related unconventional oil basin
to financial contracts with firms within the Turkmenistan’s oil and gas
group. Prosecutors allege that contracts Jade Gas Holdings (ASX:JGH) on
between Petrotel and its shareholder Lukoil November 29 announced that drilling has sector
Europe were drawn up in favour of the commenced at the company’s flagship TT
latter. CBM Gas Project in the Tavantolgoi XXXIII Turkmen President Gurbanguly
The defendants were previously PSA unconventional oil basin in Mongolia. Berdimuhamedov has placed his son Serdar
acquitted twice after being sued for the The initial well, Red Lake 1, was spudded in charge of the country's oil and gas sector.
bad faith use of the company's capital and on November 28, with the well expected to The move will be taken as another sign that
money laundering. take 25 days to reach a total depth at around the 40-year-old is being groomed to succeed
850 metres, the company said. his dictator father.
It added: “In addition to a standard Serdar Berdimuhamedov, already a
Gazprom confirms Moldova suite of wireline logs, the well will be cored lawmaker and deputy prime minister for
through the three primary target coal
economic affairs, has effectively been in
paid its gas bill seams, with between 25 to 50 coal samples charge of the Turkmenistan’s crisis-mired
to be recovered, and analysed in the on-site
economy since February.
Gazprom confirmed on November 26 laboratory for gas content. Permeability State-controlled newspaper, Neutral
that Moldova has paid its current gas testing is also planned in each of the coal Turkmenistan, reported that the
bill therefore the supplies will not be seams to assist with future well spacing and president instructed his son at a meeting
interrupted. development options.” of officials on November 25 to oversee the
On November 22, Gazprom gave Jade said it has engaged the services of country’s oil and gas complex.
Moldova a 48-hour deadline to pay its gas highly respected local drilling company Turkmenistan ranks fourth globally by
bill due the same day, warning that failure Ellehcor, “which has extensive experience in gas supplies.
to pay the $74mn would result in the drilling in this region, along with coal bed Last week, local reports suggested
interruption of the deliveries. methane experts out of Brisbane, Australia, the Turkmen authorities in addressing
The government of Moldova in the that have been engaged to safely and economic turmoil were cutting rations
meantime disbursed some $70mn to efficiently undertake the advanced testing and further curbing subsidies to a heavily
Moldovagaz to pay the bill, paying part required for this program”. dependent population. They were said to
of the historic debt the gas transport/ In 2019, Jade drilled eight exploration be laying preparations for cutting sales of
distribution company controlled by core holes during its prospecting work subsidised foods to the families of convicted
Gazprom holds against state-owned to evaluate the coal thickness, continuity criminals or stateless people residing in the
Termoelectrica. and undertake a preliminary assessment former Soviet republic.
Gazprom spokesman Sergey Kupriyanov of the gas content of the deeper Tavan Serdar Berdimuhamedov is officially
underlined the company’s goodwill but Tolgoi coals in the area. This dataset described as "the son of the people".
expressed concerns about further such enabled the company to design the current
incidents “due to systemic problems in the work program to target three key seams,

Week 48 01•December•2021 www. NEWSBASE .com P15