Page 18 - AsianOil Week 13 2021

AsianOil NEWS IN BRIEF AsianOil

expected to achieve 10,000 barrels per day in
the coming weeks.
Santos Managing Director and Chief
Executive Officer Kevin Gallagher said the
resumption of production comes as the
company prepares for a second phase of infill
drilling in the Van Gogh field, due to begin in
the second quarter this year.
“Van Gogh Infill Phase Two is targeting
around 10 million barrels gross reserves, with
first oil scheduled in the fourth quarter this
year,” Mr Gallagher said.
“Preparations for the three-well campaign,
EAST ASIA the oil and gas production mix and led to using the Valaris MS1 mobile offshore drilling
major progress in green and low-carbon unit, are tracking well, with drilling expected
Kunlun divests stakes in transition. The Company successfully to start within weeks.
completed the spin-off of its pipeline assets
“I am pleased to report that the Ningaloo
Beijing Pipeline, Dalian LNG based on market principles winning high Vision is back on location and producing
recognition from the capital market. The
again, following a challenging dry dock
We refer to the announcement of PetroChina transaction was approved in the General campaign last year when it arrived in
Company Limited dated 22 December 2020 in Meeting, with 99.99% votes in favor. Singapore just as the nation was going
relation to the disposal of 60% equity interest Seizing the opportunity of China being the into three months of lockdown and the
in Beijing Pipeline and 75% equity interest first major economy with positive economic maintenance workforce being among
in Dalian LNG by Kunlun Energy, a non- growth and giving full play to the synergy the hardest hit by a second wave of the
wholly owned subsidiary of the Company. along the oil and gas industrial chain, the coronavirus pandemic.
Unless otherwise defined, capitalized terms Company vigorously implemented measures “The Ningaloo Vision’s return to
used in this announcement shall have the to enhance quality and profitability and production after a successful maintenance
same meanings as those defined in the achieved better-than-expected operating program sets the facility up for the next stage
Announcement. results with extraordinary efforts combating of new production from the Van Gogh oil
The Board is pleased to announce that the pandemic and low oil price. field.”
all of the conditions precedent set out Under the International Financial Production from Van Gogh (WA-35-L)
in the Equity Transfer Agreement have Reporting Standards, PetroChina registered began in 2010, with the nearby Coniston and
been satisfied. The corresponding rights, a revenue of RMB 1,933.84 billion and the Novara oil fields tied back to the Ningaloo
obligations, responsibilities and risks of the net profit attributable to parent company was Vision in 2015 and 2016 respectively.
Target Shares have been transferred from RMB 19.01 billion. The oil and gas lifting SANTOS, March 26, 2021
Kunlun Energy to PipeChina at 24:00 on 31 cost was US$11.1 per barrel, representing a
March 2021. decrease of 8.3% year-on-year. The financial Strike updates on West
CNPC, April 1, 2021 status remained healthy with asset-liability
ratio down by 2.1 percentage points year- Erregulla 4
PetroChina achieved better- on-year. The Company’s cash flow is sound Since the last update, Strike has cored a
with net cash flow generated from operating
than-expected annual activities amounting to RMB 318.58 billion, 45m interval of the Kingia Sandstone down
to 4,931m (MD) and retrieved the core to
and free cash flow RMB 70.2 billion,
results representing an increase of 75.8% year-on- surface. Smooth coring conditions with
gas shows were observed during the coring
year.
On March 25, PetroChina Company Limited CNPC, March 29, 2021 operations. The core has now been sent to the
released its 2020 annual results. In 2020, laboratory for several rounds of testing. Strike
despite challenges brought by COVID-19 has also completed final routine pressure
and plummeted international oil price, the OCEANIA testing of surface equipment in preparation
Company adhered to quality development for the final stages of the well.
and coordinated efforts on all fronts including Ningaloo Vision resumes Strike is now running in hole with the
COVID-19 prevention and control, work and drilling assembly that includes the LWD
production resumption, as well as reform and production (logging while drilling) equipment. Strike will
innovation. It vigorously implemented green pass through the open hole and retrieve logs
and low-carbon transition and maintained a Santos today announced it has restarted over the Kingia Sandstones as it proceeds to
stable production and operation. production from the Ningaloo Vision the Bit Basher Shale where it will drill through
The Company’s oil and natural gas Floating Production Storage and Offloading before reaching the final primary objective
equivalent output was 1,409.7 million barrels, vessel following scheduled maintenance in in the High Cliff Sandstones. At the point of
representing an increase of 4.8% year-on-year; Singapore. reaching this objective, Strike will pull out of
with marketable natural gas output reaching The Ningaloo Vision, which ties in the Van hole and recommence coring operations in
3,993.8 billion cubic feet, an increase of 9.9% Gogh, Coniston and Novara oil fields offshore the High Cliff before final drilling, cleaning,
year-on-year. The proportion of natural gas Western Australia, has now commenced testing and completion of the well.
output continued to grow, further optimized ramping-up its production again and is STRIKE ENERGY, March 31, 2021

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