Page 13 - AsianOil Week 31 2022

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of a new facility. The project has a positive in the morning of August 1, 2022, there was to further diversify the banking group by
environmental, social and governance (ESG) a leakage at the Zawtika’s onshore pipeline, welcoming an additional high calibre lender
impact as it would reduce approximately 70% resulted in the gas pressure drop. To ensure to the syndicate. The company continues to
in carbon emissions compared to a new build, operational safety, PTTEPI has promptly receive strong further interest from the bank
and also circumvents the scrapping of an old isolated the gas pipeline and temporarily market to partner with the company. Together
unit. suspended gas delivery from the Zawtika with the receipt of the retail portion of the
The second contract is between Keppel Project to Thailand. The preliminary AUD244mn equity raise on 12 July 2022, this
Shipyard and MODEC Offshore Production investigation found no trace of explosion or completes the capital initiatives announced
Systems (Singapore) to support the fire. Further investigation on the cause of the on June 20, 2022. These capital initiatives,
completion of a floating production storage leakage is underway. PTTEPI is accelerating alongside the acquisition of OGPP, set Cooper
and offloading vessel (FPSO). the pipeline repairment which is expected to Energy up for the next exciting growth phase.
Keppel Shipyard’s scope of work is to complete in around two weeks. The company Following completion of the acquisition of
complete the topsides integration work as well will further report should there is an update the Orbost Gas Processing Plant (“OGPP”)
as supporting the pre-commissioning and on the situation. from APA Group announced on July 28, 2022,
commissioning activities for the FPSO. The PTTEP, August 01, 2022 the integration and transition period has
vessel is expected to arrive at its Singapore commenced. APA will operate the plant on
yard in 4Q 2022. OCEANIA Cooper Energy’s behalf under a transitional
When completed, the FPSO, which can services agreement until the plant’s major
process 100,000 barrels of oil per day and will Cooper Energy – Business hazard facilities licence is transferred to
be delivered to Woodside Energy (Senegal) (as Cooper Energy. During this period, there
operator of the Sangomar Field Development update will be continuity of key people, systems and
Phase 1). The FPSO will be moored in waters processes under Cooper Energy’s integration
approximately 780 metres deep and will be Cooper Energy or company provides the plan. A governance arrangement will also
located approximately 100 km south of Dakar, following business update. be in place to manage the OGPP during this
Senegal. The company has completed the last integration and transition phase. The OGPP
KEPPEL OFFSHORE & MARINE, August 01, stage of the capital management initiatives average processing rate for July was 49.1 TJ/d,
2022 announced on June 20, 2022. Last Friday, 8% higher than the average processing rate
Cooper Energy signed a new A$420 million for June of 45.4 TJ/d. The OGPP has been
PTTEP – Statement: senior secured revolving facility agreement processing at a steady rate of 55 TJ/d to 58
TJ/d between absorber cleans.
with a group of six domestic and international
Leakage at the Zawtika’s financial institutions. The facility is a flexible, why the OGPP polisher unit’s performance
The root cause analysis to understand
group reservesbased style loan that will
onshore pipeline refinance the AUD158mn currently drawn degraded is ongoing with plans for re-
under the company’s 2017 facility and
instatement underway. The indicative timing
PTT Exploration and Production (PTTEP) provide the financial flexibility to accelerate for the polishing unit to return to service is
has been informed by its subsidiary, PTTEP the organic projects. As a certified net zero the end of August.
International (PTTEPI), Yangon Branch, that upstream operator, Cooper Energy is pleased COOPER ENERGY, August 02, 2022

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