Page 12 - AsianOil Week 18 2022

AsianOil OCEANIA AsianOil

Origin’s revenue from APLNG rises 78%

PERFORMANCE AUSTRALIA’S Origin Energy said on April up 20% sequentially and 123% y/y. APLNG also
29 that revenue from its stake in the Australia sells a share of its gas to the domestic market, and
Pacific LNG (APLNG) project had risen by 78% for that, the average price was AUD4.94 per giga-
year on year in the quarter up to March 31. joule ($91.97 per 1,000 cubic metres), down 21%
The increase has been attributed to higher sequentially but up 23% y/y.
LNG and oil prices, which were already rising Origin’s share of LNG production from
early this year before seeing additional upward APLNG fell to 636,600 tonnes, down 22%
pressure as a result of the war in Ukraine. sequentially and 28% y/y. The company attrib-
Origin now holds a 27.5% operating interest uted the decrease to adverse weather conditions
in APLNG after selling 10% to ConocoPhillips, and two fewer days in the last quarter.
another partner in the project. The company APLNG’s total LNG production for the quar-
reported commodity revenue of AUD666.4mn ter was 2.3mn tonnes, down 3% sequentially and
($471.8mn) from its share of APLNG, which also 1% y/y.
represented a 4% sequential decrease on the final The fact that revenue was up even as produc-
quarter of 2021. tion was down illustrates how current trends are
For the 2022 financial year to date – which affecting LNG producers.
runs from July 1, 2021 – Origin’s share of APLNG “Australia Pacific LNG was able to capitalise
resulted in commodity revenue of AUD1.85bn on strong commodity prices, shipping seven
($1.31bn), up 80% y/y. JKM-linked spot cargoes during the quarter,
The average realised gas price for APLNG’s with a further four sold into the tight Asian LNG
LNG output came to $14.36 per million British market for delivery in the coming months,”
thermal units ($397.20 per 1,000 cubic metres), stated Origin’s CEO, Frank Calabria.™

NEWS IN BRIEF

SOUTHEAST ASIA order book to-date stands at a record high at prevention and control, the company had
SGD641.1mn with deliveries stretching into consistently accelerated green and low-
New order win of SGD180mn 2024. carbon transformation, improved quality
The new order is not expected to have a
and efficiency, and further strengthened ESG
brings Dyna-Mac’s net material impact on the group’s earnings per management. Meanwhile, it also committed
to satisfying gas demand in peak season and
share and net tangible assets for the current
order book to record financial year ending December 31, 2022. provided clean energy to “Green Winter
Olympics”. In the first quarter of 2022, the
DYNA-MAC HOLDINGS, May 04, 2022
SGD641.1mn company recorded a revenue of CNY779.37bn
and net profit attributable to owners of the
Dyna-Mac Holdings is awarded a firm EAST ASIA company of CNY39.06bn, continuing solid
contract with a provisional sum of growth in production and operation.
SGD180mn from a longtime repeat customer. PetroChina continued The company’s exploration and
The contract was for the construction of development business achieved a steady
topside modules for a floating production positive momentum in first growth in crude output and a rapid increase
storage offloading (FPSO) vessel. Work on the in natural gas output, resulting in an
topside modules will commence in 4Q 2022 quarter of 2022 expanded ratio of gas in its overall production
with completion scheduled for 1Q 2024. output which in fact enables the company’s
Mr Lim Ah Cheng, chief executive officer PetroChina announced today that in the first underlying capacity of providing clean energy.
and executive director of Dyna-Mac, said: quarter of 2022, the company placed stable In the first quarter of 2022, the company
“We are honoured that our longtime repeat development as top priority and achieved a reached a domestic oil and gas equivalent
customer has chosen to partner us for the steady increase in its operating results while output of 389.8mn boe, up 4.5% year-on-
construction of the FPSO topside modules. maintaining smooth and efficient operation year, a domestic crude oil output of 192.6mn
This is testimony of our ability to execute and in its oil and gas industrial chains. Through barrels, up 3.7% year-on-year, and a domestic
deliver our projects on-time, on budget and integration of production and operation, marketable natural gas output of 1,182.6 bcf,
in stringent compliance with safety, security, market supply, technological innovation, up 5.4% year-on-year. The exploration and
health and environment standards.” management enhancement, safety and production business realised an operating
Including the new order win, the net environmental protection, and epidemic profit of CNY38.8bn.

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