Page 16 - AsianOil Week 15 2021

AsianOil NEWS IN BRIEF AsianOil

of Petronas’ intervention operations, the conditionally purchased the 60% equity at an early stage by leveraging proven
award not only builds on a long-standing interest in Beijing Pipeline and the existing technology for ammonia
relationship, but also shows a real vote of 75% equity interest in Dalian LNG. transportation and storage infrastructure,
confidence in Welltec’s fleet and technological The corresponding rights, obligations, with growing expectations for the
capabilities. The services are based on daily responsibilities and risks of the Target commercialization of supply and demand.
or monthly rental and will be selected by the Shares were transferred from Kunlun The main challenges faced by Green
various Petronas assets for any upcoming Energy to PipeChina at 24:00 on 31 Ammonia so far have been relatively
project during the coming three-year period. March 2021. higher production costs, and limitations
The delivery will include the entire Welltec PetroChina Company Limited is a joint from renewable electricity sources that are
Intervention portfolio with the majority stock company with limited liabilities intermittent or do not exist in sufficient
of services having already been deployed incorporated on November 5, 1999, upon the capacity.
successfully for Petronas under previous restructuring of China National Petroleum Starfire is currently developing
agreements, but now additional services like Corporation (CNPC). ammonia synthesis technology using
the RCB (Reverse Circulating Bit) and several CNPC, April 14, 2021 its own proprietary catalysts, which are
sizes of the Well Cutter family have also characterized by the ability to synthesize
been added to the list. Welltec’s unique RCB Osaka Gas invests in US ammonia at lower pressures than
breaks through obstacles, such as composite conventional processes, with a focus on
plugs, and recovers the generated cuttings green ammonia start-up highly flexible operations for more efficient
with suction into integrated bailer sections. integration with renewable electricity
In a single run, this allows users to mill such OGUSA has invested in Starfire Energy sources. Starfire aims to continue to scale up
obstacles as composite plugs and recover any Inc., located in Denver, Colorado, which is this system in the future.
associated debris the well to prevent further developing systems to economically produce OSAKA GAS, April 14, 2021
associated problems. the carbon-free, storable fuel known as
WELLTEC, April 13, 2021 “Green Ammonia” from renewable energy, air
and water, and systems to crack ammonia to OCEANIA
hydrogen leveraging ammonia’s use as a safe
EAST ASIA and cost effective transport mechanism for Oilex finalises Bhandut PSC
hydrogen.
PetroChina closes disposal Chevron, New Energy Technology Pty Ltd, stake sale
Other investors include AP Ventures,
of Beijing Pipeline, Dalian and Mitsubishi Heavy Industries America, Oilex Ltd is pleased to announce that all
Inc.
necessary approvals from the Government
LNG interests around the world, CO2-free fuels derived of India (GoI) for the sale of its Participating
As efforts to decarbonize accelerate
Interest (PI) in the Bhandut PSC have now
On March 31, Kunlun Energy, a non- from renewable energy sources are been completed.
wholly owned subsidiary of PetroChina attracting attention. Green Ammonia, in Following the approval from the GoI,
conditionally sold and PipeChina particular, is expected to be commercialized all conditions precedent to the sale of
its PI in Bhandut have now been met
with settlement of the US$0.29 million
consideration from the buyer expected
later this month.
On 28 January 2020, Oilex announced
that it had accepted an offer from Indian
based Kiri and Company Logistics Private
Limited (Kiri) to acquire the Company’s
PI in Bhandut. Oilex held a 40% PI in
the Bhandut Field, with GSPC holding
the remaining PI. The Company will
receive US$0.29 million in cash proceeds
for the sale of its PI and transfer of
operatorship rights to Kiri. As previously
reported, Kiri has expressed an interest in
engaging the services of Oilex’s office on a
contract basis to review field production,
stabilize operations, and initiate field
re-development of the Bhandut PSC in
accordance with the FDP and this process
is currently underway.
The field has been on care and
maintenance for some time and has existing
production facilities. Bhandut has been fully
provided for in the Oilex financial statements.
OILEX, April 13, 2021

P16 www. NEWSBASE .com Week 15 15•April•2021