Page 13 - AsianOil Week 29

AsianOil
NEWS IN BRIEF
AsianOil
is also scheduled to go into service for the Yamal LNG project following its delivery in July in DSME and an ice-breaking navigation without ice-breaker support through the Northern Sea Route towards the Yamal LNG plant at Sabetta Port in Russia.
MOL made an o cial decision to participate in the Yamal LNG Project in July 2014, and the construction of the vessels commenced in May 2016. To manage plan approvals on the design and construction
of the vessels, MOL has worked closely with DSME, Yamal LNG Project personnel, and other operators of the ice-breaking LNG carriers in the project, as well as consultants. e vessel not only has a high icebreaking capability of up to 2.1m, but also has a double- acting ice-breaking system to enable the
vessel to navigate astern. With the addition
of extreme cold speci cations designed to withstand temperatures of -52°C, this vessel
is truly state-of-the-art and re ects MOL’s proactive attitude to new technical challenges.
In addition to the Ice-Breaking LNG carriers, construction of the four conventional LNG Carriers, destined for the Yamal LNG Project announced in June 2017, has been progressed as planned.
MOL, July 19, 2019
AUSTRALASIA
Beach Energy achieves record production levels
Beach Energy’s Western Flank and expanded asset portfolio deliver record full year production of 29.4 MMboe. Q4 FY19 production of 7.0 MMboe was highlighted by a further 5% increase in Western Flank oil output. Western Flank gas production was up 32% on the quarter a er commissioning of the Middleton liquids handling expansion.
FY19 sales revenue of $1.9 billion, Otway sale proceeds sees Beach debt free at 30 June 2019. Q4 FY19 sales revenue of $501 million was up 7% on the prior quarter and brings FY19 sales revenue to $1.9 billion on full year sales volumes of 31.2 MMboe.
Q4 FY19 free cash ow of $130 million combined with $262 million Otway Sale
proceeds brings Beach to a net cash position of $172 million at 30 June 2019 - two years earlier than initially expected.
Beach participated in 134 wells in FY19,
a 40% increase over FY18. Overall success rate was 84%. Longest lateral segment drilled to date by Beach at Kalladeina-4 (1,438 metres with 84% net reservoir). Subsequent to quarter end, appraisal well Haselgrove-4 in the Otway Basin is being completed for production testing in Q1 FY20.
Subsequent to quarter end, Mitsui E&P Australia (MEPAU) agreed to purchase 17% of Beharra Springs and associated infrastructure. Beach and MEPAU now at 50:50 across all shared Perth Basin assets.
FID reached on Waitsia Gas Project Stage 1 expansion to 20 TJ/day including connection to Dampier Bunbury Natural Gas Pipeline with capacity su cient for Waitsia Gas Project Stage 2 potential volumes.
BEACH ENERGY, July 24, 2019
Path now clear for NT
onshore shale gas
exploration
Santos today announced it has received approval for the rst Environmental Management Plan (EMP) to be awarded for onshore shale gas exploration in the Northern Territory since the moratorium was li ed in early 2018.
NT Environment and Natural Resources Minister Eva Lawler approved Santos’ Drilling EMP for the Tanumbirini 2H and Inacumba 1/1H wells in Exploration Permit 161 in the McArthur Basin, east of Daly Waters.
Santos is operator of, and has a 75 per cent interest in, the permit.
Today’s green light for the resumption
of drilling activities in the basin follows last month’s approval of the EMP for civil works at and around the well locations, as well as the acquisition of 2D seismic data.
Santos Managing Director and Chief Executive O cer Kevin Gallagher said approval of the Drilling EMP is an important milestone that clears the way to restart onshore shale gas exploration in the resource- rich McArthur Basin.
“We drilled Tanumbirini 1 in 2014 and liked what we saw, so we are delighted to be in a position to resume exploration drilling,” Mr Gallagher said.
“Local communities desperately need
the jobs, small business opportunities and investment the onshore natural gas industry will bring, and with the new regulatory regime in place to ensure that the environment and water resources are protected, we’ll be moving as quickly as possible and doing our best to beat the approaching wet season.”
Santos is currently completing drilling of the Dukas 1 well in the Amadeus Basin and the next drilling location for the Ensign 965 rig will depend on the rig release date from Dukas 1.
SANTOS, July 24, 2019
Santos sees record production, revenue
First half production of 37 mmboe was
a record for Santos and 32% above the corresponding period. Sales volumes of 45.2 mmboe were up 19% and sales revenues up 18% to $2 billion in the rst half.
Dorado-2 appraisal success confirmed a larger than anticipated major oil and
gas resource in the Bedout Basin, offshore Western Australia, significantly de-risking a future development. Santos now expects to book a significant resource upgrade above its currently booked 2C resource for Dorado.
PNG LNG expansion advanced by the signing of a binding letter of intent to acquire a 14.3% interest (pre-government back-in) in PRL 3 which contains the P’nyang natural gas eld.
e Barossa project entered exclusive negotiations with the Darwin LNG Joint Venture for the supply of back ll gas to Darwin LNG and also awarded the subsea production system contract ahead of a planned FID by early 2020.
Higher quarterly and year-to-date production in both the Cooper Basin and GLNG. A record 102 wells were drilled in GLNG during the quarter (100% success rate) and 25 wells drilled in the Cooper Basin (80% success rate) including fastest ever Cooper total well execution of 4.3 days.
Santos generated $300 million in free cash ow in the second quarter, bringing total free cash ow for the rst half to over $600 million.
Strong free cash ows reduced net debt by $0.3 billion in the second quarter to $3.1 billion (excluding the impact of the new AASB 16 Leases standard).
SANTOS, July 18, 2019
Week 29 24•July•2019
w w w . N E W S B A S E . c o m
P13