Page 12 - AsianOil Week 44

AsianOil
NEWS IN BRIEF
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OCEANIA
Origin Energy releases quarterly report
Australia Pacific LNG (APLNG) year-on-year production rose 3%, driven by higher well availability and the Eurombah Reedy Creek InterConnect pipeline coming online.
Integrated Gas revenue increased 7% in the quarter to $688 million driven by higher effective Australian dollar oil prices and increased LNG volumes.
31 LNG cargoes were loaded and shipped.
Beetaloo exploration restarted with the Kyalla well spudded on 9 October.
Electricity sales were flat quarter on quarter but down 8% year-on-year primarily due to lower Business sales and lower Retail customer numbers and usage.
Natural gas volumes were down 7% year- on-year, primarily due to the non-recurrence of short-term wholesale contracts in Queensland, partially offset by higher volumes directed to generation.
Origin CEO Frank Calabria said, “Australia Pacific LNG continues to perform strongly
with production rising during the quarter
and higher oil prices lifting revenues. After a three-year hiatus, we reached a major milestone in our Beetaloo exploration project with the spudding of the Kyalla 117 well earlier this month. Consistent with our FY2020 guidance for the Energy Markets business, electricity sales volumes were lower as a result of expiration of Business contracts and in our Retail segment, lower customer usage and a decline in customer numbers. Seasonal demand saw gas sales volumes rise by 18% compared to the prior quarter, partly driven by Darling Downs Power Station coming back online, supporting our ability to deliver reliable supply to the market.” ORIGIN ENERGY, October 31, 2019
Strike Energy completes share placement
Strike Energy is pleased to announce it has completed a share placement to raise $30 million (before costs).
The company is also pleased to announce a Share Purchase Plan to target up to an additional $5 million in funding (SPP). The SPP will provideallexistingeligibleshareholdersofStrike Energy on the record date, 31 October 2019 (Record Date), with the opportunity to apply for shares at the same issue price as participants in the Placement.
Funds raised from the capital raising
will primarily be applied to the company’s exploration and appraisal programme in the
Perth Basin as well as continuing piloting operations at the company’s Southern Cooper Basin Gas Project.
Managing Director & CEO, Stuart Nicholls commented:“This round of financing has been very successful in providing the company with the capital it requires to commit to several major contracts and activities across its Perth Basin acreage whilst at the same time increasing the concentration of institutional shareholders on the Strike share register. The company received bids in excess of the targeted raise of $30 million, which points to the quality of the investment in Strike at this time.
Securing this high-quality capital is the final pillar that supports Strike’s development and growth strategy in Western Australia. These funds will enable Strike to deliver critical reservoir, appraisal and engineering outcomes required for a final investment decision on the proposed first phase of the West Erregulla development.” ORIGIN ENERGY, October 31, 2019
Barossa FPSO contract awarded
Santos today announced the Barossa project has taken another major step towards a final investment decision with the awarding of the contract for the Floating Production, Storage and Offloading (FPSO) facility to MODEC International Inc.
The FPSO contract is the project’s biggest - comprising engineering, procurement of materials, equipment and services, construction, installation, commissioning and testing of the facility.
The Barossa project is nearing the end of the front-end engineering design (FEED) phase and includes an FPSO facility, subsea wells and subsea production system, and gas export pipeline.
The FPSO will be located in the Barossa field, 300kilometresnorthofDarwin,andexportgas to Darwin LNG via a new 260 kilometre pipeline tied into the existing Bayu-Darwin pipeline. The FPSO will also store condensate for periodic offloading to tankers.
Santos Managing Director and Chief Executive Officer Kevin Gallagher said: “This contract with MODEC is the result of a FEED
competition and its award is our biggest step towards pushing the button on the development of Barossa.”
“The project is technically and commercially robust, and we are closing in on FID early in the new year, with contracts for the subsea umbilicals, flowlines and drilling of six subsea production wells to be awarded in the near future.”
The Barossa field sits within Santos’ northern Australia portfolio, one of the company’s core long-life, natural gas asset regions.
The project area encompasses petroleum permit NT/RL5 located in Commonwealth waters offshore Northern Territory.
Santos holds a 25% interest in the Barossa joint venture along with partners ConocoPhillips (37.5% and operator) and SK E&S (37.5%). Santos is also a joint venture partner in Darwin LNG with an 11.5% interest.
On October 14, Santos announced the acquisition of ConocoPhillips’ northern Australia portfolio including its interests in Darwin LNG, Bayu-Undan and Barossa. Completion of the transaction and planned sell-down to SK E&S will see Santos’ interests in these assets increase to 43.4%, 43.4% and 62.5%, respectively.
SANTOS, October 31, 2019
AHTS contracts awarded by INPEX
Solstad Offshore has entered into a contract with Inpex Operations Australia Pty for the provision of two anchor handlers to support additional drilling for the Ichthys LNG development.
Normand Scorpion and Normand Sirius will be contracted to INPEX for a period of 3 years The anchor handlers are expected to mobilise out of Broome, Australia in the first quarter of 2020.
“We are delighted to receive this contractawardfromINPEX. Thisisa continuation of earlier support provided
to the Ichthys LNG development and we relish the opportunity to continue our working relationship for years to come” said Managing Director for Solstad Offshore Asia Pacific, Keith Soutar.
SOLSTAD OFFSHORE, October 30, 2019
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Week 45 06•November•2019