Page 14 - AsianOil Week 40

AsianOil
NEWS IN BRIEF
AsianOil
S O UTH ASIA
OIL receives new chairman
Shri Sushil Chandra Mishra took over the charge of Chairman & Managing Director (CMD) of Oil India Limited (OIL), India’s second largest National Exploration & Production Company, at its Corporate office in Noida, on 1st October 2019.
Prior to taking over as Chairman & Managing Director, Shri Mishra was heading OIL’s Rajasthan Project as Executive Director (Rajasthan Project), whre he oversaw highly successful implementation of India’s first and deepest Cyclic Steam Stimulation (CSS) process - a technology to produce heavy crude oil, holding the promise of manifold increase in production of heavy-oil from Rajasthan fields.
Shri Mishra with over 35 Years of rich and varied experience in Upstream Sector, has deep expertise in commercial matters and played a key role in framing and implementing procurement policies & procedures for inventory management, vendor development, framework agreement and its related strategies. He was also responsible for key functions
like ERP, Strategic Planning, E&P Projects, Corporate affairs, managing renewable energy portfolio & business development etc.
OIL, October 1, 2019
SOUTHEAST ASIA
Pertamina-PLN agree to joint venture
Pertamina and PLN have agreed to form a joint venture in the electricity, gas and LNG and renewable energy-based electricity business, both at home and abroad. The agreement was carried out by their respective subsidiaries, namely PT Pertamina Power Indonesia (PPI) as a subsidiary of Pertamina and PT Indonesia Power (PI), a subsidiary of PLN.
PPI President Director, Ginanjar, said that the collaboration of the two SOE subsidiaries is the realization of a dream to optimize Indonesia’s human capital while enhancing the expertise and capabilities of the nation’s children.
“As a national company, of course this
is our moral obligation to always accelerate
the process of transformation of technology, knowledge and skills, as well as increase expertise, and capabilities so that Indonesia can be independent. The electricity business is a technology that is certainly very self-managed by the nation’s children, “said Ginanjar, after the signing of the collaboration between the two
companies, in Jakarta, Thursday (9/26). In addition to agreeing to form a joint venture in the electricity business, added
Ginanjar, the two sides also agreed on cooperation in the field of operation & maintenance (O&M) as well as developing independent power producer (IPP) based on gas or LNG and new renewable energy.
Meanwhile, Managing Director of IP, Ahsin Sidqi, added that with his extensive experience and high flight hours in the field of O&M
power plants, it would certainly provide reliable operational guarantees and added value in the form of competitiveness, for power projects which are currently being developed by PPI, and of course projects that will be jointly developed.
For IP itself, this is in addition to being
a place to introduce expertise that it already has, it is also a good opportunity to develop IP expertise in power plant projects with a larger scale and the latest technology that continues to grow which will certainly become the pride of the nation.
PPI is currently carrying out the development of power plants, including the Java-1 1760MW gas and steam powered power plant which is under construction and will start operating in 2021, Bangladesh 1200MW PLTGU which is under development, solar powered electricity generation (PLTS) Rhino 4MW, Sei Mangkei 2.4MW biogass power plant (PLTBG), as well
as renewable energy and other creative energy power generation projects, including electric vehicles with several first class partners.
Ginanjar further said that the cooperation in managing projects through the synergy of the two SOE subsidiaries, not only provides benefits in the development of human capital and technology expertise, but also provides economic benefits created by the occurrence of Indonesian circulated capital flow, which in will ultimately have an economic multiplier effect. PERTAMINA, October 3, 2019
Coro Energy announces West Natuna well spudding
Coro Energy, the Southeast Asian focused upstream oil and gas company, is pleased to provide an operational update in relation to the drilling campaign in the Duyung Production Sharing Contract (PSC) in the West Natuna basin, offshore Indonesia, in which Coro holds a 15% interest.
As previously reported, the drilling rig Asian Endeavour 1 was mobilised from Singapore on 24th September 2019 and has been on location since Monday 30th September. Pre-loading
of equipment and supplies for the two well programme has now completed and drilling of the Tambak-2 well has commenced.
The Tambak-2 well is primarily designed as
an appraisal of the southern area of the Mako gas field. The well is a very large step out (over 13 km) south the Mako South-1 location, will be drilled as a vertical well and is prognosed
to intersect the intra-Muda reservoir up dip from the Mako South-1 well, at a depth of approximately 380 metres below sea level. The well is planned to total depth at approximately 595 metres below sea level. A full reservoir evaluation programme is planned, including an extensive suite of logs, coring and open hole testing, in order to derive as much information as possible about the Mako gas field reservoir.
An independent review by Gaffney Cline & Associates ascribed gross 2C resources of 276 Bcf (48.78 MMboe) of recoverable dry gas in the Mako field with gross 3C resources of 392 Bcf (69.3 MMboe) representing additional field upside. Management estimate that in the event of the Tambak-2 well resulting in a successful appraisal of the southern area of the Mako gas field, approximately 100 Bcf of gross contingent resources will be added to the 2C category from the 3C category. This would represent very significant, low risk, value addition to what the Board considers an already attractive commercial development opportunity and would further enhance the appeal of the field as a source of gas for the Singaporean market.
Total time to drill, core, log and test is estimated to be approximately 33 days, after which the rig is then planned to immediately move to the Tambak-1 location. Coro is fully funded for its share of costs associated with the drilling campaign.
CORO ENERGY, October 4, 2019
EAST ASIA
Northern Drilling cancels DSME drillship
West Cobalt, the 100% owned subsidiary
of Northern Drilling (NODL), has today notified Daewoo Shipbuilding & Marine Engineering (DSME) that it has cancelled the resale contract for the 7th generation ultra deepwater drillship West Cobalt due to various reasons including repudiatory breach of contract by DSME.
West Cobalt has made advance payments totalling approximately $49.2 million under the contract, and will claim a refund of the instalments paid, plus interests and damages. NORTHERN DRILLING, October 7, 2019
NYK receives low emission tanker
Nippon Yusen Kaisha (NYK Group) is proud
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Week 40 09•October•2019