Page 15 - AsianOil Week 33

AsianOil
NEWS IN BRIEF
AsianOil
rubber boat, it will be accommodated by the rst and second layer of the static oil boom. A er that there will be a movable oil boom that will chase the oil that escaped, “explained PHP Relations PHE, I i Sukarya.
I i added, oil spills that were not caught at sea were driven by an oil boom installed at 8 points along the coastline, namely Cemara Jaya Village, Sedari Village, Tambak Sari Village, Tanjung Pakis Village, Bakti Beach Village, Sungai Buntu Village, Desa Sukajaya and the ousand Islands.
“Previously, we had installed an oil
boom along the 3000 meters, then to 4000 meters, now we have added to 5,865 meters,” concluded I i.
PERTAMINA, August 19, 2019
PetroVietnam Mud Drilling’s profits rise, revenue falls
PetroVietnam Mud Drilling has posted 34% year-on-year decline in its second-quarter revenue, which amounted VND413bn, Vietnam News has reported. e company attributed the decline to the closure of its plastic bead business.
e company’s gross pro t climbed 22% to VND63 billion, on the back of increased drilling uid sales. while net pro t almost doubled to VND16bn.
First-half revenue slid 13% on the year to VND987bn, its net pro t climbed to VND20.6bn a er the company recorded a VND6.6bn loss for the same period of 2018.
PetroVietnam Mud Drilling is targeting VND1.96tn in revenue and VNN170mn in net pro t in 2019.
EAST ASIA
Petrobras pre-pays Chinese loan
Petrobras reports that today it fully prepaid a nancing contract with China Development
Bank (CBD) due in 2024, totaling US$ 3 billion. e company also noti ed CBD on the advanced payment of another loan, in the amount of US$ 5 billion and whose maturity would be in 2027, to be made on December 16, 2019 as allowed in the contract. is pre- payment will result in the termination of the preferential supply obligation of 100 thousand barrels of oil equivalent per day to Chinese companies under market conditions and for the same period of the loan.
ese operations are in line with the company’s liability management strategy, which aims at improving the amortization pro le and the cost of debt taking into account the deleveraging target set forth in its 2019-2023 Business and Management Plan. PETROBRAS, August 14, 2019
SHItowinordersfor10LNG- fueled vessels
Samsung Heavy Industries has announced on August 19 that it received orders for 10 LNG- fueled 113,000 DWT A-max crude oil carriers from an Oceanian shipowner, valued at KRW 751.3 billion. ese vessels will be delivered by January 2022 in consecutive order.
SHI has achieved 54% of its annual target of USD 7.8 billion by obtaining orders for 29 vessels equivalent to USD 4.2 billion so far and has diversi ed its orders into di erent types of ships including 11 LNG carriers, 14 COTs, two PCs, one special ship, one FPSO and more.
SAMSUNG HEAVY INDUSTRIES, August 19, 2019
Report: CNPC strikes oil in South Sudan
State-owned CNPC has discovered more than 300 million barrels of recoverable oil in South Sudan’s northeastern Upper Nile State, Platts reported on August 20.
e discovery was made in Block 3 in the Melut Basin, the news service quoted Oil Minister Awow Daniel Chuang as saying. e eld lies near the
border with Ethiopia and Sudan.
“We are looking at over 300 million
[barrels] of reserves with hope of more discoveries because there are more two more wells that are under review,” he said in an interview.
OCEANIA
Armour to commence Kincora drilling Program
e Directors of Brisbane based oil and
gas explorer and producer Armour Energy are pleased to advise that the company has entered into a contract for the drilling of two development wells for the company’s 100% owned Kincora Gas Project on the Roma Shelf, south of Roma, Queensland.
is work program is a continuation of the 2018-2019 Phase 3 growth strategy which includes drilling of new wells and workover and stimulation of existing wells. ese activities, together with any necessary further work on the Kincora Gas Plant, will assist Armour in progressing to its targeted 20TJ/ day gas sales.
In preparation for drill rig mobilisation, theCompanyhascompletedtheconstruction of the drill sites which are located in the
Myall Creek and Horseshoe Fields, in PL511 and PL227 respectively. e wells have
been designed to a depth of approximately 2,100-meters (measured depth) and will target liquid-rich, overpressured Permian
and Triassic conventional and tight gas sandstones. e wells are planned to be drilled consecutively with the rst well planned to spud in September 2019.
ARMOUR ENERGY, August 19, 2019
Beach posts record underlying profit
Beach Energy has today released its FY19 Full Year results, in which underlying NPAT was up 86$ to a company-record A$560mn.
e company also recorded its highest ever free cash ow of A$559mn, while underlying EBITDA was up 80% to a record A$1.375bn – well above initial guidance of A$1.1-1.2bn.
Beach Energy managing director Matt Kay said the results capped o a substantial year for the company as it also achieved record production of 29.4mn boe, reached a net cash position two years ahead of schedule and delivered its best safety and environmental performance on record.
BEACH ENERGY, August 19, 2019
Week 33 21•August•2019
w w w . N E W S B A S E . c o m
P15