Page 12 - GLNG Week 45

GLNG
NEWS IN BRIEF
GLNG
AUSTRALASIA
Scarborough resource volume increased by 52%
The estimated gross contingent resource (2C) dry gas volume for the Scarborough field has increased to 11.1 tcf (100%; 8.3 tcf Woodside share), up 52% from 7.3 tcf (100%; 5.5 tcf Woodside share).
Woodside’s interest in Greater Scarborough (covering the Scarborough, Thebe and
Jupiter fields) comprises a 75% interest in WA-1-R (which contains the majority of
the Scarborough field) and a 50% interest in each of WA-61-R, WA-62-R and WA-63-R. Woodside is the operator of these retention leases. As a result of the Scarborough resource volume increase, Greater Scarborough contains an estimated gross dry gas contingent resource (2C) volume of 13.0 tcf (100%; 9.3
tcf Woodside share), a 41% increase from
the previous 9.2 tcf (100%; 6.4 tcf Woodside share). The increased volume estimates
follow completion of integrated subsurface studies incorporating full waveform inversion (FWI) 3D seismic reprocessing and updated petrophysical interpretation. The new FWI 3D seismic reprocessing improved the reservoir imaging quality and increased reservoir sand distribution. In addition, a comprehensive integrated review of the wireline log data
and measurements from special core analysis has increased net sand proportion and gas saturations. Assurance of this work has been provided by an external independent reserves auditor.
Woodside’s overall Corporate Contingent Resources (2C) have increased by 503mn
boe to 6,020mn boe. Woodside is targeting a final investment decision for the development of the Scarborough gas resource in the first half of 2020. Scarborough gas would be initially processed on a deep-water floating production unit and transported through an approximately 430 km pipeline to a proposed second LNG production train at the existing Woodside-operated Pluto LNG facility on Western Australia’s Burrup Peninsula.
Woodside CEO Peter Coleman said the increase in estimated resource volume at Scarborough underscored its potential as a world-class project which could meet growing demand for gas in Asia and beyond, as well
as supplying the domestic market in Western Australia.
“Our understanding of the value of the Scarborough gas resource has increased
after applying leading-edge technology to geophysical data collected since the field’s discovery almost 40 years ago. By unlocking the huge potential of the Scarborough gas resource we’ve strengthened the case for development and extended the expected cash flow from Scarborough for years.”
“This resource upgrade further improves Scarborough’s existing value proposition
as we target the delivery of a new, globally competitive LNG project from 2024,” he said. WOODSIDE PETROLEUM, November 08, 2019
EUROPE
Christian Leclercq becomes new CFO of Fluxys
Christian Leclercq will join the Fluxys management team as Chief Financial Officer (CFO) with effect from 1 January 2020.
Christian Leclercq has 30 years’ experience in various financial roles and has been CFO
of the Belgian listed industrial company Hamon Group since 2013. At Fluxys and its subsidiary Fluxys Belgium he will succeed Paul Tummers, who earlier this year pursued a new challenge.
FLUXYS GROUP, November 13, 2019
Uniper expects
Wilhelmshaven LNG
terminal online by 2023
German utility Uniper expects the planned 10bn cubic metre Wilhelmshaven floating LNG (FLNG) terminal to be ready to enter
service in 2023. In an earnings call, Uniper’s chief financial officer, Sascha Bibert, said there was strong demand for the gas, as
well as interest from suppliers of sea-borne gas into Germany. Uniper has LNG offtake commitments with US producers of the fuel.
Electrogas Malta
repositions LNG tanker
ahead of storm
Electrogas Malta reported on November
11 that owing to a storm approaching Marsaxlokk Bay, the Armada LNG Mediterrana tanker at the Delimara LNG- to-power project would be “repositioned” 70 metres away from the jetty.
The measure was described as preventative.
“During such preventive measures, LNG will not be sent to shore and other backup energy sources will be used,” Electrogas said in a statement. The company said it would resume operations after the storm passed, and once the tanker’s captain determined that it was safe for the ship to berth at the jetty once more.
MIDDLE EAST
Bahrain LNG now to start up by end-2019
Bahrain’s first regasification terminal will now start up by the end of this year, Teekay LNG Partners reported in its third-quarter results. The in-service date is later than initially expected after start-up was delayed at least twice. It was previously pegged for the third quarter of this year. Teekay, which owns a 30% stake in Bahrain LNG, did not specify the reason behind the delay. However, Teekay’s VEO, Mark Kremin, said “good progress”
had been made on the terminal. The project includes a floating storage unit (FSU), an offshore LNG receiving jetty and breakwater, a regasification platform, subsea gas pipelines from the platform to shore, an onshore gas receiving facility and an onshore nitrogen production facility. According to Refinitiv data, the Bahrain Spirit FSU is currently anchored in Bahrain anchorage.
Bahrain’s National Oil and Gas Authority (NOGA), Samsung Construction and Trading and the Gulf Investment are also partners in the Bahrain LNG joint venture, which owns the terminal.
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Week 45 14•November•2019