Page 15 - Euroil Week 45 2019

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NEWS IN BRIEF
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gas monopoly Naftogaz, Interfax and RBC business portal reported on November 13 citing unnamed sources close to the deal.
As reported by bne IntelliNews, amid the renegotiation of the gas transit deal, the tensions between Gazprom and Naftogaz flared up.
Last week Naftogaz had filed new legal claims against Gazprom with the Arbitration Institute of the Stockholm Chamber of Commerce, because “effectively Gazprom wants the previous Stockholm arbitration decision on the transit contract to be reviewed.”
Reportedly, the fears that Naftogaz could block the Eurobond issue or the proceeds of the issue prompted Gazprom to call it off. The issue was largely prepared and could
be renewed in the nearest future in more favourable market conditions.
In a phone call with German Chancellor Angela Merkel last week Russia’s President Vladimir Putin floated the idea of linking the settlement of the arbitration claim of $2.56bn by Naftogaz on Gazprom with a new gas transit deal.
Most recently Gazprom placed Eurobonds in February 2019, placing $1.25bn worth of securities at 5.15% annual yield to a demand of about $5bn. Overall the company approved €3bn of foreign borrowing for 2019.
bne IntelliNews, November 13 2019
Snam profits rise in 9M- 2019
Italian gas firm Snam posted EUR867mn ($954mn) in net profits for January to September, up 9.3% yr/yr, it said on on November 14.
Revenues were up 4.3% at EUR1.95bn, while Ebitda climbed by 4.1% to €1.66bn. Technical investments grew by 15.3% to EUR650mn, while Snam’s net debt increased 2.8% to EUR11.87bn.
“The results of the first nine months confirm Snam’s growth, with an almost 10% increase in net income due to the positive performance of our core business,
the development of our associates and the continuous optimisation of our financial structure,” CEO Marco Alvera commented in a statement.
November 14 2019
Romgaz profits stay firm in Q3
Romania’s state-owned gas producer Romgaz generated 209.2mn lei ($48.4mn) in net profit in the third quarter, down 2.1% y/y, according to a company report on November 14.
Ebitda increased 17.5% to 467.5mn lei, and turnover declined 5.6% to 916.1mn lei. Romgaz cited 2% turnover tax and other levies as factors affecting its performance.
The company produced 3.95bn cubic metres of gas in the first nine months of 2019, up 0.7% y/y.
November 14 2019
Premier’s Catcher project pays off
Premier Oil said on November 14 that it had now fully paid for investments in its Catcher oil project in the North Sea.
Catcher was launched 22 months ago at a cost of around $1.7bn, with Premier covering half of this expense. The field produced 69,000 barrels of oil equivalent per day in the first 10 months of 2019.
Premier also noted it had been given approval to link the Catcher North and Laverda fields back to the main Catcher FPSO.
November 14 2019
Gemini prepares for well appraisal in Poland
UK oil and gas firm Gemini Resources is preparing to undertake re-entry and appraisal work at its Siciny-2 well in the Gora concession in Poland.
The company, which is targeting 1.6 trillion cubic feet of contingent tight gas resources at the site, has awarded a contract to Halliburton for the supply of hydraulic fracturing equipment and the provision of pumping and wellbore services, and Weatherford International for well testing services. Equipment will be mobilised to the well this month.
Gemini has also placed orders for other essential equipment for the well re-entry
and stimulation, including proppant, tubing and tubing hangars. A two-stage hydraulic frack, followed by well tests, will take place in December.
Gemini has a 65% stake in Gora and the nearby Nowa Sol concession. The remaining interests in the concessions were bought by Australia’s Ansila Energy, previously known as Pura Vida Energy, in September.
November 7 2019
Maersk Drilling gets $11mn extension with AkerBP
Denmark’s Maersk Drilling has secured a contract extension off the coast of Norway for the ultra-harsh environment jack-up rig Maersk Integrator from Aker BP.
The Maersk Integrator vessel will sink a well at the Tambar oilfield under the extension, which begins in September 2020. Before then, Maersk Integrator will be upgraded into a hybrid, low-emission rig.
Morten Kelstrup, COO of Maersk Drilling, said: “We are very happy to continue our close collaboration with Aker BP, and to announce the low-emission upgrade for another XLE rig.
“The great collaborative efforts in the alliance are producing high efficiency, leading to wells drilled much faster than planned and mutual benefit for all parties involved.
“Higher efficiency in itself reduces the CO2 emissions associated with a drilling campaign, and this aspect is now further strengthened by adding hybrid, low-emission technology.”
November 7 2019
Week 45 14•November•2019
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