Page 11 - AsianOil Week 30 2021

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end online car-hailing will be converted to
use hydrogen fuel cells. Shanghai Petroleum
is actively communicating with relevant
enterprises and units, and is the first to
start the construction of the oil-hydrogen
combined station in this area, and strive to
complete it within this year.
SINOPEC, July 29, 2021

OCEANIA
Pasca A Gas Agreement

Signing Update

The announcement and media conference
13th July 2021 by the Prime Minister of Papua
New Guinea, the Hon. James Marape, stated
that the negotiations for the Pasca A Gas
Agreement concluded on the 6th July 2021
and a signing would take place on the 29th
July 2021.
Twinza notes that the agreement will not
be signed today as announced and we await a
formal communication from the State on the
way forward.
Twinza remains hopeful that the
agreement, that was finalised on the 6th July
2021, can indeed be signed and that the Pasca
A Project can move in to the FEED Phase.
TWINZA, July 29, 2021
to THB 75,000 million) in the same period EAST ASIA Completion of Northern
last year due to an increase in income tax
expenses of higher sales volume. Exploration Shanghai Petroleum has Territory Airborne Survey
expenses adjusted upward from the asset
write-off for overseas exploration projects. accumulated more than 200 The Directors of Armour Energy Limited
However, unit cost in the first half decreased are pleased to announce that Pinemont
to USD 27.57 per BOE compared to USD tons of hydrogenation Technologies Australia Pty Ltd, a specialist
30.62 per BOE of the same period last year geophysical service provider, has completed
primarily due to effective cost management As of July 28, Shanghai Petroleum has refueled the acquisition of airborne geophysical data
implementation coupled with successful more than 206 tons of hydrogen and 39,900 over a substantial portion of six Northern
executions under Expand strategy in pursuing vehicles since the two oil-hydrogen combined Territory permits covering an area of
investment opportunities in Southeast Asia stations were put into operation, effectively approximately 20,000 km².
and the Middle East where operating cost helping to reduce carbon dioxide emissions. Armour undertook the airborne survey
structure is competitive. Since obtaining the gas cylinder filling on behalf of McArthur Oil & Gas Limited
With the aforementioned factors, PTTEP’s license in June last year, Shanghai Petroleum in advance of the proposed demerger and
net profit for the first half was at USD 598 has actively expanded its hydrogen refueling IPO of McArthur as previously announced
million (equivalent to THB 18,673 million), terminal users and has steadily expanded by the Company (refer ASX announcement
a 46% growth when compared with USD 409 its operation scale. Among them, the daily of 6 March 2021). The airborne survey is the
million (equivalent to THB 12,935 million) refueling of Anzhi Oil Hydrogenation Station largest private enterprise survey of its type
a year ago. Earnings before Interest, Taxes, has stabilized at about 100 vehicles. At present, to be undertaken in the Northern Territory
Depreciation and Amortization (EBITDA) the oil-hydrogen combined station mainly and the survey area is equivalent to the size of
margin stood at 75%, aligned with the serves hydrogen fuel cell light trucks and Wales.
company’s target. inter-city logistics express services to meet the The survey was aimed at detecting
For the second quarter of 2021, the short- and medium-distance transportation anomalies in areas of upward fluid flow of
company’s total revenue was at USD 1,768 needs of Shanghai and surrounding areas. migrating hydrocarbons above fluid pathways
million (equivalent to THB 55,624 million) It is understood that after the start of and/or hydrocarbon accumulations. This will
and net profit of USD 222 million (equivalent the construction of the Shanghai Hongqiao provide information over existing prospects
to THB 7,140 million), increasing by 66% Airport Economic Demonstration Zone, a and leads, and a regional context upon which
compared to the same quarter of 2020. batch of heavy logistics trucks, sanitation to plan future follow up exploration work.
PTTEP, July 29, 2021 vehicles, demonstration route buses and high- The airborne survey (refer to Armour’s

Week 30 29•July•2021 www. NEWSBASE .com P11