Page 17 - AsianOil Week 13 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA Driven by the vigorous thrust of the in the clastic reservoirs. An appraisal well is
Government on making accessible the clean scheduled in near future to assess the upside
Cost of Domestic LPG energy to all Indians, LPG has emerged as resources.
the preferred kitchen partner for almost
“The Sirung-1 exploration well marks
cylinder to fall every Indian. LPG penetration in India has PTTEP’s third discovery offshore Malaysia
following SK410B’s Lang Lebah and SK417’s
improved from 55% in 2014 to more than
Prices of crude oil and petroleum products 99% today. Dokong. PTTEP also plans to explore
in the international market have been on a INDIAN OIL, March 31, 2021 nearby prospects in this PSC next year.
constant uptrend since November 2020. As The achievements have strengthened our
India is largely import dependent on crude oil investment base as we continue to expand our
and the prices are market linked, the increase SOUTHEAST ASIA exploration horizon in Malaysia,” said PTTEP
in international prices resulted in increase in CEO.
domestic price of petroleum products. PTTEP strikes another oil Block SK 405B is located in the shallow
However, due to growing worries about waters, approximately 137 kilometres off the
rising Covid-19 cases in Europe and Asia and gas discovery offshore coast of Sarawak (Bintulu). PTTEP Sarawak
and concerns over the side effects of vaccine, Oil Limited is the operator with 59.5 per
prices of crude oil and petroleum product Malaysia cent participating interest. MOECO Oil
in the international market softened in the (SARAWAK) SDN.BHD. and PETRONAS
second fortnight of March 2021. Accordingly, PTT Exploration and Production Public Carigali Sdn. Bhd. holds 25.5 and 15 per cent
Oil Companies have reduced the Retail Selling Company Limited (PTTEP) announced a interest respectively.
Price (RSP) of Diesel and Petrol by 60 paise successful oil and gas discovery from the first Apart from the Sarawak SK405B, there
per litre and 61 paise per litre respectively at exploration well, Sirung-1, in Block SK405B, are also SK410B, SK314A, SK438, SK417,
Delhi market over the past few days. There off the coast of Sarawak, offshore Malaysia. PM407 and PM415, all still in the exploration
was a corresponding reduction in prices The achievement is the latest outcome of stage. Major projects in PTTEP’s portfolio
at other markets during this period. This PTTEP’s ‘Execute strategy’ which focuses on in Malaysia include the producing assets in
reduction has come as a relief to motorists and adding reserves for long-term growth. Block K, SK309, SK311, the Rotan-Buloh field
transporters across India. Phongsthorn Thavisin, PTTEP Chief in Block H and the jointly operated gas fields
Further, with a view to give relief to Executive Officer, disclosed that PTTEP, with PETRONAS Carigali in the Malaysia–
domestic LPG consumers, the price of through its subsidiary PTTEP Sarawak Oil Thailand Joint Development Area. PTTEP is
Domestic LPG cylinder has been reduced by Limited, commenced the drilling of Sirung-1 also a joint investor with PTT, through the
Rs 10/cylinder from Rs 819/cylinder to Rs wildcat well in Block SK405B in January 2021. PTT Global LNG Company, in the MLNG
809/cylinder at Delhi effective 1st April 2021. The well was drilled to a total depth of 2,538 Train 9 Project, an LNG liquefaction plant in
Same reduction has been carried out in other metres where it encountered a significant oil Sarawak.
markets. and gas column of more than 100 metres, PTTEP, March 30, 2021

Week 13 01•April•2021 www. NEWSBASE .com P17