Page 11 - AsianOil Week 40 2022

AsianOil NEWS IN BRIEF AsianOil

MMA offshore to support Beach 13.4% year-on-year to 6.26 million tones, increase to approximately 4,500 bbls/d
but dropped 1.4% month-on-month to a
(net) as a result of the 2023 infill drilling
ops in Bass Strait, Australia one-year low. program.
"The company is continuing to make
Sales of gasoline, or petrol, were 8.8%
Australian offshore vessel owner MMA higher from a year earlier at 2.83 million good progress on the key work streams in
Offshore has secured a vessel contract with tonnes. support of production re-start at Wassana,
the oil and gas company Beach Energy. Preliminary sales data from earlier this including securing the recertification of
The MMA Coral will provide vessel month showed gasoline and gasoil sales the field's mobile offshore production unit
support to Beach Energy’s two production by Indian state refiners rose sharply in facility and procuring a suitable floating
platforms located in the Bass Strait, offshore September from a year earlier, signaling a storage and offloading vessel," Valerua said.
Australia. The vessel will also provide pick-up in industrial activity ahead of the Sean Guest, President and CEO said: "We
subsea inspection and survey services and festive season from October. remain confident in our ability to resume
will support planned drilling operations. Sales of bitumen, used for making roads, oil production at the Wassana field later
Starting in late November 2022, the were up about 16%, while fuel oil use edged this quarter. With positive progress on all
contract is for a firm period of one year with up 9% in September. key work streams, supporting the return to
an additional one-year option. The vessel Cooking gas or liquefied petroleum gas active production operations, we are already
will also be marketed to the broader region (LPG) sales increased 3.5% to 2.45 million setting our sights on our growth targets, and
for ad hoc work scopes in addition to Beach tonnes, while naphtha sales fell 6.4% to 1.08 with this drilling rig contract in place we
Energy’s operations, MMA Offshore said. million tonnes. will be well-prepared to increase production
Before the delivery, the MMA Coral will Indian state refiners plan to lock-in in 2023."
be fitted with a work class ROV spread in more of their crude supplies in term deals,
order to carry out specialized subsea scopes. worried that tighter Western sanctions on
Certain work scopes will also utilize Russia, including from the EU, could curb Carnarvon: 20 offshore
an innovative modular active heave future supplies in already tight markets,
compensated (AHC) lifting spread from sources at state refiners said this week. prospects in Bedout permits
the vessel, supplied by the local Victorian
company, Thrust Maritime. could contain over 1.5bn boe
MMA’s Managing Director, David Valeura secures jack-up for
Ross, said: “We are delighted to be Australian oil and gas company Carnarvon
supporting Beach Energy and look forward Wassana oilfield drilling Energy said this week it had identified
to delivering our operations safely and more than 100 prospects across its Bedout
efficiently. With the installation of new Valeura Energy, an oil and gas company Permits, offshore W. Australia, the top 20 of
subsea technology on the MMA Coral, we with assets offshore in the Gulf of Thailand which could hold over 1.5 billion barrels of
are pleased to be expanding our operational and the Thrace Basin of Turkey, has agreed oil equivalent in total.
portfolio further within the Bass Strait and with Petrovietnam Drilling and Well Service "More than 100 prospects have been
adjacent region.” Corporation to charter the PV Drilling I identified across Carnarvon’s acreage
jack-up drilling rig to support its Gulf of (WA-435-P, WA-436-P, WA-437-P and
Thailand operations in 2023. WA-438-P (collectively “Bedout Permits”)),
Indian fuel demand slips to mobilize to the Wassana oil field in mid Q2 covering a broad range of play styles. The
The PV Drilling I rig is expected to
top five prospects in each permit have
10-month low 2023, where it will conduct an initial scope been re-assessed following the successful
of work comprised of the company's five
Pavo discovery this year, with potential for
India's monthly fuel demand in September well infill drilling program. high grading to drilling status. These top
was at the lowest since November 2021, The arrangement includes an option prospects contain both gas and liquids-
government data released on Friday to extend the scope of work thereafter, to focused targets," Carnarvon said.
showed. include additional drilling operations at the "The mean prospective resources of the
Total monthly fuel demand in September company's discretion. top 20 prospects add up to over 1.5 billion
fell 3.6% from August, although it was up In Q2 2022, Valeura signed and then barrels of oil equivalent (Pmean, gross).
8.1% when compared with September 2021. closed a share purchase agreement to This, and the high average probability
"When we look at the drop in Indian acquire KrisEnergy International (Thailand) of geological success, underscores the
oil demand, part of it had to do with Holdings Ltd. which owns and operates two potential for more discoveries in the highly
seasonal maintenance of the refineries, not licences in the offshore Gulf of Thailand. prospective Bedout Sub-basin," Carnarvon
necessarily a softening of the economy," said The acquisition includes the suspended said.
Phil Flynn, analyst at Price Futures Group Wassana oil field and the fully appraised Carnarvon Managing Director and
in Chicago. Rossukon oil field. Additionally, through CEO, Adrian Cook, said: “I am very excited
"We expect that the demand for India is a separate agreement, the company agreed to share this update on the significant
going to pick up here very, very shortly as to acquire the Mobile Production Unit prospectivity of the Bedout Sub-basin,
we get into winter." Ingenium (“MOPU”) which is on location with the top 20 out of over 100 identified
Consumption of fuel, a proxy for oil at the Wassana oil field. prospects totalling over 1.5 billion barrels of
demand, totaled 17.18 million tonnes in Valeura reiterated its previous target that oil equivalent.
September, up from 15.89 million tonnes it expects to re-start production from the Given the success rate in the basin of
a year earlier, data from the Petroleum Wassana oil field in Q4 2022, with initial nearly 70%, Carnarvon is confident the
Planning and Analysis Cell (PPAC) of the oil production rates of up to 3,000 bbls/d drilling of these wells will add to our
Oil Ministry showed. (net to the 89% working interest held by already extensive resource base, providing
Sales of diesel, or gasoil, rose about Valeura's subsidiaries) and is targeting an potential future tie-backs to Dorado or

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