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the acquisition of 2,150 km of 2D seismic data by 2,900 barrels per day this year to 707,200 bpd
and 3,050 square km of 3D seismic data, as well by optimising development drilling, workover
as the drilling of 70 exploration wells. The com- and well intervention. “For the oil target, we
panies’ EOR commitments, which include two are optimistic that it can be achieved, especially
developments and nine trial projects, will attract since the planned shutdown of [Banyu Urip]
$386.8mn. yesterday was successfully accelerated,” she told
SKK Migas has previously said the commit- Kontan on October 4.
ted work programmes across the 13 licences She was speaking after US super-major Exx-
could help lift production from an anticipated onMobil shut down the field in order to upgrade
420,000 barrels of oil equivalent per day this year the project’s gas handling capacity, as well as
to 450,000 boepd in 2022. tie-in production from state-owned Pertami-
The regulator has been stepping up its efforts na’s Jambaran-Tiung Biru (JTB) gas unitisation
to engage upstream developers to produce more development. ExxonMobil’s accelerated planned
oil and gas, despite the collapse in both energy shutdown is expected to increase production by
prices and demand as a result of the health crisis. 1,200 bpd, while the drilling of 11 wells at Cherv-
Kurniasih said last week that the watchdog on’s Rokan Block in the fourth quarter should
was spurring developers to boost oil production add another 400 bpd.™

Petron urges Philippines to pass LPG bill

POLICY PHILIPPINE refiner and fuel retailer Petron has seizure of PHP5.1mn worth of illegally refilled
urged CongRess to pass a bill that seeks to clamp Petron Gasul tanks.
down on illegal practices within the liquefied “There are very serious dangers to illegal
petroleum gas (LPG) sector. refilling, which is why it has to stop. It puts at risk
Petron president and CEO Ramon Ang said the lives of consumers because illegally refilled
Senate Bill 1188, or the “LPG Act”, would help tanks do not undergo proper safety checks, nor
law enforcement officials to tackle on illegal do they undergo weight inspections, so these are
sector practices, which include illegal refilling, also often underfilled,” Ang said.
underfilling, hoarding and operating without a His appeals to the government this week
valid licence. come after the company head threatened to
The proposed bill seeks to introduce close down the country’s only refinery last week
PHP5,000 ($103) to PHP10mn ($206,000) if refinery operators’ taxes were not brought in
fines for illegal activities, while empowering the line with those paid by fuel importers.
Department of Energy (DoE) to regulate and Ang said on October 6 that he would close the
supervise industry participants and improving 180,000 barrel per day (bpd) Petron Refinery in
its ability to enforce quality and safety standards. Bataan Province “if talks with the government
“Our law enforcers are doing a commendable will not succeed”.
job in keeping an eye on illegal LPG outlets. If the Ang argued that fuel importers only paid tax
LPG bill will be passed, they can do even more on oil products that exited their terminals or
in suppressing illegal trade practices in the LPG depots, while refiners paid excise taxes on crude
sector,” Ang said on October 13. and other raw material imports arriving in the
The executive lauded efforts by the Philip- country as well as on the fuel produced.
pine National Police-Criminal Investigation Petron posted a first-half net loss of
and Detection Group (CIDG) to clamp down on PHP14.2bn ($287.8mn) compared with a
such illegal activity, highlighting two raids in the PHP2.6bn ($53.4mn) net profit in the same
cities of Imus and Bacoor in June that led to the period in 2019.™

Week 41 15•October•2020 www. NEWSBASE .com P5