Page 16 - AsianOil Week 11 2023

AsianOil NEWS IN BRIEF AsianOil

ConocoPhillips targets a joint venture in the T/49P exploration Petros receives first carbon
permit in 2020.
Australian drilling in 2024-25 storage licence

Australian oil and gas company 3D Oil Thailand scrambles to avoid oil On Wednesday, Petroleum Sarawak
has sold 80% of its interest in the VIC/ (Petros), Malaysia's state energy company,
P79 offshore block to ConocoPhillips, spill after fatal accident at ship was granted its first license for carbon
along with the operatorship, after receiving storage, allowing the company to begin
the approval of the transfer of title Authorities in Thailand are responding managing Sarawak's natural carbon capture,
documentation from the National Offshore to a potential oil leak from a storage vessel utilization, and storage (CCUS) assets.
Petroleum Titles Authority. In exchange, 3D holding 400,000 barrels of crude oil. During Petros CEO Janin Girie stated that the
Oil will receive a cash payment of $3m and maintenance, a seal malfunctioned and development of CCUS infrastructure would
ConocoPhillips Australia will carry 3D Oil seawater entered the hull of the Benchamas enable the exploitation of stranded sour
for one exploration well in VIC/P79 up to 2, leading to the death of one crew member. gas reserves offshore Sarawak and unlock
$35m, after which it will contribute 20% of The vessel, which is operated by a unit of additional gas, ensuring long-term energy
drilling costs in line with its interest in the Chevron, has a storage capacity of 650,000 and gas supply security for the region. The
permit. barrels and operates at the Benchamas field license, which covers an area in the North
The exploration permit is located in the in Block B8/32 in the Gulf of Thailand. Luconia province offshore Bintulu, was
offshore Otway Basin and covers 2,576 km², Multiple agencies are working to recover the issued by the Sarawak Land and Survey
adjacent to the Thylacine and Geographe body of the dead crewman, fix the leak and Department.
gas fields and the La Bella gas discovery. 3D prevent an oil spill. Petros and Japan's Inpex signed a
Oil identified several low-risk, amplitude- The 25-year-old vessel is located about joint collaboration agreement last month
supported exploration targets in the first 207 km off Sattahip in Chon Buri province, to explore the potential development
year of the work program and passed where Thailand has its largest navy base. of a carbon capture and storage (CCS)
operatorship to ConocoPhillips Australia Although weather conditions are not project targeting CO2 emissions from
to continue maturing the subsurface interfering with the rescue operations, the various industries in Sarawak. The two
interpretation of prospects for the drilling lack of electricity in the engine room is companies will conduct a feasibility study
of an exploration well before the end of the making it difficult to assess the situation. of the project, including identifying CCS
primary term in February 2025. Chevron expressed its condolences for the technologies and methodologies, target
ConocoPhillips Australia has already loss of the crew member and is removing facilities, and evaluating economics
started preparing for drilling, including non-essential personnel from the vessel. and operational schemes. Girie noted
stakeholder consultation and the They are working with relevant authorities that Sarawak has the largest potential
preparation of an environmental plan to prioritize personnel safety and carbon storage capacity in Malaysia,
for the drilling of up to six exploration environmental protection. with an abundance of storage potential
wells within VIC/P79 and T/49P. The It is worth noting that a spill from in its offshore areas, and welcomed
completion of the deal is a significant step an undersea pipeline operated by Star organizations committed to achieving their
for 3D Oil towards its goal of becoming Petroleum Refining Pcl in the same region decarbonization targets to explore utilizing
an east coast gas producer, building on the leaked approximately 50,000 liters of oil in CCUS potential in Sarawak with Petros.
strong partnership it has developed with January 2022, affecting local beaches.
ConocoPhillips Australia since entering

P16 www. NEWSBASE .com Week 11 17•March•2023