Page 14 - AsianOil Week 36 2021

AsianOil NEWS IN BRIEF AsianOil

second LPG/LAG carrier. Kawasaki plans to
complete the construction of the vessel at its
Sakaide Works in 2023.
The advantage of this dual-purpose vessel
is its capability to simultaneously carry LPG,
which is already used as a low-carbon energy
source, and LAG, a new fuel contributing to
the establishment of a decarbonized society.
Another feature is the greater capacity of the
cargo tanks as compared to conventional
carriers, which was achieved without
significantly changing the vessel’s length,
breadth, or other main specifications.
Fueled by low-sulfur fuel oil and LPG OCEANIA facility with an expiry date of 31 December
(which significantly reduces the emission 2026. The banking group comprises banks
volumes of sulfur oxides [SOx], CO2, and Mereenie development well from Papua New Guinea, Australia, Asia and
other pollutants in the exhaust gases as the United States.
compared to marine fuel oil), the vessel successfully completed The new corporate facility replaces the
meets SOx emission standards set by the previous US$600 million non-amortising
International Maritime Organization (IMO), The operator of the Mereenie joint venture, revolving credit facility, that was due to expire
as well as the IMO’s Energy Efficiency Design Central Petroleum Limited has advised that in June 2022.
Index (EEDI) Phase 3 regulations, which are WM28, the second development well in the Commenting on the new corporate facility,
scheduled to adopt stricter CO2 emission Mereenie Development Programme was Oil Search’s Vice President, Treasury, Chelsea
standards in 2022. completed on 6th September 2021. The rig McGregor, said “We are pleased to see support
KAWASAKI HEAVY, September 3, 2021 will now move back to WM19 to carry out from both existing and new relationship
some remediation work, before moving to banks, which signals their recognition that
“K”Line agrees time charter WM27 to complete the Pacoota 1 interval as Papua New Guinea continues to be an
a producer.
attractive country to invest in.
of VLGC release is attached, the key points are: weighted average debt maturity profile,
The new facility extends the Group’s
Central’s announcement and their media
Kawasaki Kisen Kaisha, Ltd. (“K” Line) is We obtained strong flows on test maintains liquidity above US$1 billion and
pleased to announce that it has reached an from various tested zones in the planned is a key component of Oil Search’s capital
agreement with GYXIS Corporation (GYXIS) completion intervals in the Pacoota management strategy for the next five years.”
to enter into a Time Charter contract based on formation; and OIL SEARCH, September 9, 2021
a new Kawasaki Heavy Industries, Ltd. built Sustained flow was seen from the Stairway
86,700 LPG Fueled VLGC (Very Large Gas formation which indicates the possibility Jadestone provides update
Carrier) for LPG/Ammonia Transport. of converting some, or all, the 182 PJ of 2C
“K” Line has placed an order for our Contingent Resource* (46PJ net to NZOG**). on Maari acquisition
first LPG fueled LPG/Ammonia carrier to This is to be appraised further in the future.
Kawasaki Heavy Industries, Ltd. and the vessel “It is great to see good results from this initial Jadestone Energy, an independent oil and
will be delivered from their Sakaide factory in foray into field redevelopment” Andrew gas production company focused on the
2023. The vessel will be equipped with LPG Jefferies CEO of New Zealand Oil & Gas Asia Pacific region, provides an update on
dual fuel system and reduce the emissions of says, “we are glad to be on this journey with the planned completion of the acquisition of
CO2 by approx. 20%, SOx by 90 to 100%, and our Joint Venture partners and thank field the 69% operated interest in the Maari asset,
NOx by 10 to 15% with LPG fuel mode in Operator Central Petroleum for their hard shallow water offshore New Zealand.
comparison with existing VLGCs. work in safely delivering the drilling work in Further to the Company’s announcement
Moreover, the vessel will be given the monumentally trying times”. on 31 August 2021, and following discussions
excellent design to maximize the fuel New Zealand Oil & Gas announced on with the seller OMV New Zealand Limited,
efficiency and perform more 30% of CO2 25 May 2021 that it has agreed to acquire both Jadestone and OMV NZ have agreed
emission reduction in the Energy Efficiency interests in three gas producing projects to extend the long stop date under the Maari
Design Index (EEDI) which fully meets the (Mereenie, Palm Valley and Dingo) located in sale and purchase agreement to 31 December
reduction target of the International Maritime Australia’s Northern Territory, from Central. 2021.
Organization (IMO). (Note1) Furthermore, The transaction remains subject to satisfaction Both OMV NZ and the company continue
the newly ordered vessel is also designed to of a number of conditions. to work to satisfy the remaining outstanding
transport Ammonia which draws attention NZOG, September 6, 2021 conditions and to complete the transaction.
as a zero-emission fuel, and as one of the However, and as previously disclosed, there
methods to transport Hydrogen. Oil Search secures $565mn is ongoing uncertainty in the timing of New
According to “K” LINE Environmental Zealand Government approval. As a result,
Vision 2050 (Note2), we are addressing revolving credit facility further updates on the Maari acquisition will
reduction of Greenhouse Gas(GHG) with only be made in the event that the transaction
the cooperation of customers and all of the Oil Search is pleased to announce that it has completes, or there is a material change in the
concerned parties. signed documentation for a new US$565 status of the transaction.
“K”LINE, September 7, 2021 million non-amortising revolving credit JADESTONE ENERGY, September 8, 2021

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