Page 5 - AsianOil Week 27 2021

AsianOil SOUTH ASIA AsianOil

Crown LNG picks Aker for Indian project

PROJECTS & NORWAY’S Crown LNG has picked compatriot Solutions had been assigned as key sub-con-
COMPANIES Aker Solutions to serve as main contractor in the tractors to Aker. Siemens will develop the
development of a liquefied natural gas (LNG) power generation and distribution system
terminal offshore India’s south-eastern state of as well as the platform control system, while
Andhra Pradesh. Wartsila will develop the terminal’s re-gasifi-
Crown said on July 5 that Aker Solutions cation system.
would first conduct the front-end engineering The terminal has been designed as a gravi-
and design (FEED) for the 7.2mn tonne per ty-based concrete structure that will sit on the
year (tpy) LNG terminal, which will be located seabed, which should allow it to better withstand
around 11 km offshore Kakinda City, before India’s monsoon season and operate year-round.
taking on the role as the project’s engineering, “This LNG terminal will be based in a loca-
procurement, construction, installation and tion exposed to monsoon seasons, which
commissioning (EPCIC) contractor once a final requires partners with the best track record from
investment decision (FID) has been made. harsh environment projects. This is why we have
Crown is developing the LNG terminal on engaged Aker Solutions, Siemens Energy and
behalf of its client KGLNG, which is a subsidiary Wartsila,” the CEO of project services subsidiary
of East LNG. The Norwegian developer signed Crown LNG AS, Gunnar Knutsen, said.
an exclusive agreement with KGLNG in June to KGLNG, which submitted a detailed project
finance, build and lease the facility for 25 years. report (DPR) and environment impact assess-
The LNG infrastructure developer noted ment (EIA) report for the project to the state
that it expected an FID to be reached by the end government in late 2014, had originally planned
of 2022, with the terminal anticipated to come to adopt a floating LNG (FLNG) design. Crown,
online approximately three years after that. however, said KGLNG’s licence has recently been
In addition to Aker’s appointment, Crown updated to reflect its solution and 365-day oper-
added that Siemens Energy and Wartsila Gas ational window.™

SOUTHEAST ASIA

Sacgasco expands into Philippine upstream

FINANCE & AUSTRALIAN junior Sacgasco has expanded now intends to rename BCPE as Sac-
INVESTMENT its upstream portfolio after acquiring interests in gasco SG.
four licences offshore the Philippines from Thai Sacgasco, which already has upstream inter-
energy conglomerate Bangchak. ests in the US and Canada, said the Philippines’
Sacgasco said on July 5 that it had paid $1 “very attractive fiscal environment” as well as its
for BCP Energy International (BCPEI), which “pro-active and engaged” regulator had encour-
wholly owns Nido Petroleum. Nido operates aged it to enter the country.
service contracts (SC) 54A with 42.4% and SC The company highlighted growth opportuni-
58 with 50%, and also owns 22.88% of SC 14C2 ties stemming from both the country’s growing
and 2.7% of SC 6B. demand for natural gas as well as the decline of
Sacgasco’s new assets contain six existing oil the giant Malampaya gas field, which is currently
discoveries, including the shut-in West Lina- on track to run dry this decade. The deal, how-
pacan field in SC 14C2 that has redevelopment ever, is not anticipated to affect the development
potential, as well as several “high impact” explo- of its North American assets.
ration prospects. The Australian company noted Sacgasco chairman Andrew Childs said:
that there were no near-term commitments “This is a significant acquisition for us, as it offers
attached to the fields and that the associated huge potential for a small, nimble company such
administration costs were relatively low. as Sacgasco, in a country we know well. We have
Sacgasco has begun evaluating the licences’ always viewed the Nido Petroleum Philippines
discovered oil resources with the hopes of real- assets as potentially very attractive, and we have
ising early oil production from them. It added: moved quickly to take advantage of Bangchak’s
“Potential development concepts that will allow decision that these assets are no longer core to
them to be brought to production may include their business.”
plans for three currently shut-in wells in the He added: “The existing undeveloped oil dis-
redevelopment of the West Linapacan Field and coveries and the shut-in oilfield West Linapacan
a potential parallel exploration programme.” will be a focus of immediate resource assessment
With the transaction having closed and development studies to maximise value in
on July 1, the Perth-based developer the current high oil price environment.”™

Week 27 09•July 9•2021 www. NEWSBASE .com P5