Page 9 - AsianOil Week 15 2021

AsianOil SOUTHEAST ASIA AsianOil

The project involves the modification of an review, project management and supervi-
existing liquid fuel jetty to accommodate both sion of the project’s construction.
an FSRU and LNG carriers. First Gen last week signed a five-year charter
The scope of works includes modifi- deal with BW Gas for the 162,400 cubic metre
cations to the jetty head, berthing and BW Paris FSRU. The Philippine utility said on
mooring facilities; a trestle bridge with April 5 that it expected to begin importing LNG
high-pressure gas pipeline and utilities; by the third quarter of 2022, allowing it to feed
and a jetty monitoring building and control about 2 GW of gas-fired generating that is also
room. Jacobs will be responsible for a design reliant on feedstock from Malampaya.™

Eni expands Vietnamese portfolio

FINANCE & ITALIAN major Eni has closed its acquisi-
INVESTMENT tion of Singaporean independent KrisEnergy’s
100% stake in Block 115/09, which lies offshore
Vietnam.
Eni said on April 12 that the acquisition fur-
ther strengthened its presence in the Southeast
Asian country, “consolidating its position in the
recently discovered Ken Bau like play”, while
furthering its efforts to expand its Asian gas
portfolio.
KrisEnergy first advised on March 31 that
it had finalised the sale of the 7,382-square km
Block 115/09, but only said at the time that the
buyer was a “major international oil and gas
company”. The independent said the transfer
had been completed after Vietnamese authori-
ties had given their approval.
The acreage lies adjacent to Block 114, which
Eni Vietnam operates with a 50% stake and
partner Essar Exploration & Production holds three-phase exploration period over seven years.
the other 50%. Eni bought its stake in the block, In addition to the sale of Block 115/09, the
which contains the Ken Bau gas and condensate financially beleaguered KrisEnergy has also sold
discovery, in 2012 from Essar. its 30% stake in Indonesia’s Andaman II deep-
Eni announced the Ken Bau discovery in July water production-sharing contract (PSC) to BP.
2019, after drilling the Ken Bau 1X exploration The sales are part of an ongoing restructuring
well to a total depth of 3,606 metres and encoun- campaign the independent kicked off since late
tering several gas and condensate intervals. 2019. However, KrisEnergy’s announcement at
The major then announced in July 2020 that the end of March that initial production from
the Ken Bau-2X exploration well had further its Apsara oilfield offshore Cambodia had dis-
expanded the discovery’s potential. Ken Bau 2X, appointed now raises some doubts about the
which was drilled 2 km from the first well, led company’s long-term viability.
to a preliminary reserve estimate of 7-9 trillion KrisEnergy had based its restructuring cam-
cubic feet (198.24-254.88bn cubic metres) of raw paign around Apsara’s successful production,
gas in place and 400-500mn barrels of associated with the company having set forth a pre-devel-
condensates. opment peak production forecast of 7,500 bpd.
Block 115/09 also lies alongside Eni Viet- The independent said last month that this fig-
nam’s wholly owned Block 116, which is located ure was no longer possible, after a fifth well was
in 10-120 metres of water. Block 116’s original brought online and production had only man-
licence was signed in 2014 and provides for a aged to reach a high of 3,534 bpd.™

Week 15 15•April•2021 www. NEWSBASE .com P9