Page 12 - AsianOil Week 07 2023
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OVL eyes Argentina’s gas
INDIA ONGC Videsh Ltd (OVL), the overseas arm conference in Bangalore.
of India’s Oil and Natural Gas Corp. (ONGC), Singh did not say whether the parties
OVL has signed a is showing interest in Argentina’s natural gas had identified any specific targets for future
memorandum on reserves. cooperation.
upstream cooperation In a statement dated February 7, the Indian Argentina is currently extracting gas from
with Argentina’s YPF. company revealed that it had signed a memo- both conventional and unconventional fields,
randum of understanding (MoU) with Argen- but it expects unconventional sites in the Vaca
tina’s national oil company (NOC) YPF on Muerta shale basin to make up the largest share
cooperation in the area of upstream exploration of future production growth.
and development activities. The document, Vaca Muerta is one of the largest shale for-
which was finalised on the sidelines of the India mations in the world. It is around the size of Bel-
Energy Week 2023 conference in Bangalore, gium and contains about 308 trillion cubic feet
aims to establish links between the two coun- (8.722 trillion cubic metres) of shale gas, accord-
tries’ research and training centres and promote ing to estimates from the US Energy Information
Indian investment in and cooperation with Administration (EIA).
Argentina’s oil and gas sector, OVL said. ONGC has some experience in the area of
The statement spoke in general terms onshore shale exploration. It mounted a five-year
about cooperation in the hydrocarbon sec- exploration programme of its own in 2014 but
tor, but Arun Kumar Singh, the chairman of ultimately wound the campaign down in 2019
ONGC, indicated that OVL was particularly after determining that the areas it had surveyed
interested in Argentina’s gas reserves. “This is in the Assam-Arakan, Cambay, Cauvery and
an enabling MoU. They have gas [assets] ... so Krishna Godavari basins did not contain com-
we will explore investing there,” he said in the mercial quantities of hydrocarbons.
Vintage Energy begins commissioning
of Vali-1 gas field
AUSTRALIA AUSTRALIA’S Vintage Energy said this week as soon as possible.”
that commissioning had begun on the Vali-1 gas Discovered in 2020, the Vali gas field is being
The field is in the South field production facilities in the Cooper Basin. connected to the South Australian Cooper Basin
Australian Cooper First gas flow is expected within the coming gas gathering infrastructure for the purpose of
basin. days. supplying eastern Australia with a new source of
Vintage said in a statement that mechanical gas supply.
handover of the facilities took place on February Vintage holds 50% of the license and is oper-
11 with control passing to Upstream Produc- ator of the ATP 2021 joint venture that includes
tion Solutions (UPS), the contractor engaged Metgasco Ltd with 25% and Bridgeport (Cooper
to commission, operate and maintain the infra- Basin) Pty with 25%. Vali has certified proved
structure. It said construction and installations and probable reserves of 101 petajoules and the
work is continuing at the Vali-2 and Vali-3 sites joint venture is contracted to supply between 9 to
and that mechanical handover and commission- 16 petajoules to AGL Energy from gas produc-
ing of those facilities is due to take place in early tion start-up until end-2026.
March. Metering facilities have been installed at the
“The project transition from construction to Vali facility with three flowlines running from
commissioning marks a long-anticipated mile- three completed wells to the metering facil-
stone for the company and our shareholders,” ity. Twin export pipelines run from the field to
Neil Gibbons, managing director of Vintage tie-in at the Moomba gas gathering network at
said in the statement. “Vali is now one step away the Beckler gas field. The export flow lines were
from first gas and with that the commencement successfully tested in December. Commission-
of revenue generation. Our focus is firmly on ing involves purging the system with nitrogen to
executing commissioning safely and efficiently expel air as well as inspection prior to the intro-
so Vali gas can start flowing to eastern Australia duction of natural gas.
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