Page 6 - AsianOil Week 23 2021

AsianOil SOUTH ASIA AsianOil

Iran suggests India stores oil at Jask

POLICY FOLLOWING the recent completion of Iran’s import capabilities while raising storage capacity
new oil terminal at the port of Jask, the country’s to 30mn barrels.
ambassador to India has suggested to New Delhi Chegeni’s comments followed a statement by
that it build strategic oil reserves at the facility. former Iranian Ambassador to Germany Seyed
Speaking during a webinar on June 7, Ali H. Mousavian, who said that a new version of
Chegeni said that as progress is made towards the 2015 nuclear deal could be agreed within
a revised Joint Comprehensive Plan of Action the next three weeks, though this appears to be
(JCPOA), the two countries should look to build optimistic.
on their strong ties, particularly in the energy Meanwhile, New Delhi has held off on com-
sector. mitting to the Iran-Pakistan-India (IPI) pipeline
“Having huge oil storage capacity available, and the proposed Iran-India replacement route
with just a short direct sea journey away from because of economic and security concerns.
India, means that it is time to realise construc- Chegeni noted that the removal of sanc-
tion of the Iran-India oil and gas pipeline. India tions could see India revive its plan to
also can use Jask port facilities to store its strate- “invest $20bn in Chabahar Economic Free
gic crude oil reserve to meet emergency needs in Zone (EFZ) for setting up petrochemical
case of disruptions in supply,” he said. and fertiliser plants either independently
Jask Oil Terminal currently features the first or through joint ventures with Iranian pub-
of several single-point moorings (SPMs) with a lic-private companies”.
design throughput capacity of 1mn barrels per India’s Strategic Petroleum Reserves Ltd
day (bpd). It was installed 6 km offshore Jask for (ISPRL) currently has deals in place with Iran’s
loading tankers, with two 36-inch (914-mm) regional rivals Saudi Arabia and the UAE for
pipelines laid during February linking it to the storing Saudi Aramco and Abu Dhabi National
shore. Oil Co. (ADNOC) crude in India. The company
The terminal port also features an initial 20 holds more than 39mn barrels of crude storage
storage tanks with a total storage capacity of capacity in underground caverns at Mangalore
10mn barrels of crude, with plans in place to (11mn barrels), Visakhapatnam (9.75mn bar-
add three further SPMs to increase export and rels) and Padur (18.3mn barrels).™
SOUTHEAST ASIA

Indonesia’s largest oilfield enters decline

PERFORMANCE INDONESIA’S upstream regulator SKK Migas local government companies – Sarana Patra
has revealed that production from the country’s Hulu Cepu, Asri Dharma Sejahtera, Blora
largest oilfield has entered decline. Patragas Hulu and Petrogas Jatim Utama
SKK Migas head Dwi Soetjipto told a press Cendana.
conference on June 9 that the field had reached a “The level of oil production from the Banyu
production plateau of more than 220,000 barrels Urip field has now started to naturally decline,”
per day over the last five years, far exceeding the local news portal Liputan6 quoted Soetjipto as
development team’s original estimate of 165,000 saying. However, pointing to the fact that the
bpd over a two-year period. field’s estimated ultimate recovery (EUR) had
The field lies in the Cepu block, which US more than doubled to 940mn barrels since its
super-major ExxonMobil operates with a 45% final investment decision (FID), he said Exxon-
interest. State-owned Pertamina owns 45%, Mobil and Pertamina would now look for fresh
while the remaining 10% is split between four opportunities at the field.

P6 www. NEWSBASE .com Week 23 10•June•2021