Page 14 - AsianOil Week 03

AsianOil
NEWS IN BRIEF
AsianOil
development, production and others will account for approximately 20%, 58%, 20% and 2% of the total capital expenditure, respectively.
In 2020, the Company plans to drill 227 exploration wells and collect approximately 27 thousand square kilometers 3-Dimensional (3D) seismic data.
In 2020, ten new projects are expected to come on stream, namely Penglai 19-3 oil field block 4 adjustment/Penglai19-9 oil field phase II, Qinhuangdao 33-1 South oil field phase I, Bozhong 19-6 gas field pilot area development project, Luda 16-3/21-2 joint development project, Nanbao 35-2 oil filed S1 area, Jinzhou 25-1 oil field 6/11 area, Liuhua 29-1 gas field development project and Liuhua 16-2 oil field/20-2 oil field joint development project in offshore China, Liza oil field phase 1 in Guyana and Buzzard oil field phase II in the UK. Among which, Liza oil field phase 1 in Guyana has already come on stream ahead of schedule.
The Company will steadily increase its oil and gas reserves and production, maintain cost competitiveness, maintain prudent investment decision-making and focus on shareholder returns.
CNOOC LTD, January 13, 2020
PetroChina’s chairman, director resign
The board of directors of PetroChina Company hereby announces that, due to his age, Wang Yilin has tendered his resignation to the Company and ceased to hold the positions of Chairman of the Board and Director of the Company with immediate effect. Wang Yilin also ceased to serve as the Chairman of the Nomination Committee of the Board.
Wang Yilin has confirmed that he has no disagreement with the Company and the Board and there is no other matter that needs to be brought to the attention of the shareholders of the Company.
During Wang Yilin’s tenure as the Chairman of the Company, he has been diligent, dedicated
and meticulous at work and led the Board and the Company to keep pursuing steady progress, continuously consolidate the oil and gas resource base, actively promote reform and innovation, strive to achieve high-quality development of the Company and ensure that the development achievements would return to shareholders
and benefit the society. The Board would like to express its sincere gratitude to Wang Yilin for his significant contributions during his tenure.
Following the resignation of Wang Yilin, the members of the Board decreased to 8, falling below the minimum number of directors of
11 required and the requirement to have a chairman under the articles of association of the Company. In addition, the chairman position of the Nomination Committee has been vacated. In this regard, the Company will identify suitable candidates to fill the vacancies as soon as practicable.
PETROCHINA, January 19, 2020
Kawasaki Heavy Industries delivers LPG carrier
Kawasaki Heavy Industries delivered today the Phoenix Gaia (Kawasaki hull No. 1742), an 82,200 m3 capacity liquefied petroleum gas (LPG) carrier, for Phoenix Tankers Pte. Ltd. This is the 60th LPG carrier and the 11th vessel of the same type to be built by the company.
This vessel adopts Kawasaki’s uniquely developed bow shape called SEA-Arrow, which significantly improves propulsion performance by minimizing bow wave resistance.
The main engine powering the vessel is an energy-efficient, electronically-controlled, ultra- long-stroke, two-stroke low-speed diesel engine. In addition, the Kawasaki rudder bulb system with fins (RBS-F) and the semi-duct system with contra fins (SDS-F) contribute to reducing fuel consumption.
Four independent cargo tanks are installed in the cargo holds for carrying liquefied petroleum gas. The tanks are designed to provide optimal thermal
insulation and absorb low-temperature contraction.
The cargo tanks are made with special cryogenic steel for loading LPG with a minimum temperature of –46°C. The tanks are wrapped in urethane foam for thermal insulation. The vessel is designed to be able to navigate the newly expanded Panama Canal, which was completed in June 2016.
KAWASAKI HEAVY INDUSTRIES, January 16, 2020
OCEANIA
Warrego to open Perth
office and appoints gas
marketing expert
As outlined at the company’s AGM in November 2019, Warrego Energy has focused its Australian operations on commercialising the West Erregulla gas discoveries in EP469, located onshore Perth Basin, Western Australia. Steps taken to date include the commencement of early stage gas marketing and commercialisation studies, the decision to appoint an independent third party to assess West Erregulla’s reserves and resources and the decision establish a Perth office.
Warrego has now set clear goals for the next phase of activity which includes a range of strategic initiatives, personnel changes and key appointments.
Warrego will reorganise its Australian operations to ensure that the development phase for West Erregulla is fully supported and resourced. As part of that process, Group CEO and Managing Director, Dennis Donald, will relocate to Australia for a period from the UK in early 2020, and the company will open a Perth office in the first quarter of 2020 to facilitate commercial, development and gas marketing activities for West Erregulla gas during 2020.
Warrego is delighted to announce that Cathy McKeagney will join the company as General Manager Commercial, and be based in the new Perth office from the first week of February 2020. Cathy’s role will be pivotal in developing the company’s gas marketing strategy and overseeing commercial matters associated with the West Erregulla development. She will also act as the focal point to coordinate the services and contracts to supply Warrego’s gas to the market from wellhead to end-user. With a successful career of over 20 years in the commercial and technical arenas, most recently with Mitsui, AWE and BHP, Cathy is eminently qualified for this key role.
WARREGO ENERGY, January 20, 2020
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Week 03 22•January•2020