Page 13 - AsianOil Week 18 2022

AsianOil NEWS IN BRIEF AsianOil

The company constantly promoted OCEANIA significantly increases Carnarvon’s oil
transformation and upgrading of refining resources for potential development through
and chemical business by optimising product Vali tie-in agreement the Dorado facilities, located around 46
structure and increasing production of high kilometres from Pavo.
value-added refining and chemical products executed The greater Pavo closure comprises a
in line with market demand, thereby ensuring northern structure, from which the Pavo-1
market supply and increasing profitability. Vintage Energy, 50% interest holder and well recovered hydrocarbons (Pavo North
The company also became more cost operator of ATP 2021 (other interest holders: contingent resource), and a southern structure
competitive by adhering to lean management Metgasco, 25%; and Bridgeport (Cooper (Pavo South prospective resource). The two
of production process and improving cost Basin), 25%,) announces the ATP 2021 joint structures are separated by a narrow syncline,
control. In the first quarter of 2022, the venture parties (JV) have executed a tie-in with the depth of the syncline being shallower
company processed 302.4mn barrels of crude agreement with the South Australian Cooper than an interpreted residual oil-water contact
oil, up 1.5% year-on-year, produced 1.959mn Basin (SACB) JV. noted in Pavo-1. This supports the position
tons of ethylene, up 21.8% year-on-year, The tie-in agreement provides for the that Pavo South is likely filled with the same
and 8.207mn tons of chemical commodity connection of the Vali gas flowline, and oil encountered in Pavo North.
products, up 11.2% year-on-year. The refining ongoing receipt of Vali gas, into the SACB Carnarvon managing director and CEO,
and chemical business realised an operating pipeline network. Mr Adrian Cook, said: “As we reported a
profit of CNY10.77bn. Execution of the tie-in agreement marks little over a month ago, the Pavo-1 well result
PETROCHINA, April 29, 2022 completion of all commercial agreements is another stellar exploration success in
required for gas produced from the Vali gas Carnarvon’s history in the Bedout Sub-basin.
Inpex commences field to flow to Moomba, to be processed and I’m now pleased to be in a position to report
on the contingent and prospective resources
supplied for sale to AGL Wholesale Gas under
exploratory drilling offshore the gas sales agreement announced March 23, within the Pavo structure.
2022.
When we consider Carnarvon’s share of
Shimane, Yamaguchi VINTAGE ENERGY, May 04, 2022 the Dorado field oil resource is 32 million
barrels (2C), the addition of 13 million barrels
prefectures in Japan Buru Energy launches (2C) in Pavo North and 16 million barrels
(prospective Pmean) in Pavo South holds
Inpex announced that it commenced rights issue to fund Rafael great significance to the company and its
exploratory drilling operations offshore shareholders.
Shimane and Yamaguchi prefectures in appraisal programme Importantly, Pavo has the potential to
Japan on May 5, 2022 after carrying out maintain high flow rates through the Dorado
preparation work through Inpex Sanin Buru Energy is pleased to announce a 1 production facilities and thereby preserve
Offshore Development, a subsidiary tasked for 6 nonrenounceable entitlement offer the field’s low operating costs per barrel for
with conducting exploration and development (rights issue) to raise up to approximately an extended period of time. The success of
operations. AUD14.4mn (before costs) in additional the Pavo-1 well has also led the joint venture
The project involves conducting capital. to consider its upcoming appraisal and
exploratory drilling surveys at a location Funds raised will be used for a multi- exploration campaigns in the Bedout Sub-
approximately 130 km northwest of Shimane phase appraisal program for the Rafael basin. Carnarvon is working closely with the
Prefecture and approximately 150 km north gas condensate discovery and support of operator, Santos, to define these targets and
of Yamaguchi Prefecture. In the future, Inpex commercialisation feasibility studies and will provide more information to shareholders
plans to carry out a detailed analysis and activity on other Buru assets. in due course.”
evaluation of the data obtained from the BURU ENERGY, May 03, 2022 CARNARVON ENERGY, May 02, 2022
project and determine the extent of oil and
natural gas deposits at the drilling location. Pavo resource estimate
Inpex will prioritise safety throughout the
execution of the project while calling on the Carnarvon Energy has completed its Pavo
understanding and co-operation of the local resource assessment and is pleased to
communities. report on the contingent and prospective
INPEX, May 06, 2022 resources. The successful Pavo-1 oil discovery

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