Page 19 - AsianOil Week 33 2021

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
Petronet releases Q1 2021- 22 financial results
During the quarter ended 30th June, 2021 (current quarter), Dahej terminal processed 194 TBTU of LNG as against 181 TBTU processed during the corresponding quarter ended 30th June, 2020 and 204 TBTU processed during the previous quarter ended 31st March, 2021. The overall LNG volume processed by the Company in the current quarter was 209 TBTU, as against the LNG volume processed in the corresponding and previous quarters, which stood at 190 TBTU and 218 TBTU respectively.
The Company has reported PBT of Rs 851 Crore in the current quarter, as against Rs 697 Crore in the corresponding quarter and Rs 856 Crore in the previous quarter. The PAT for the current quarter was reported at Rs 636 Cr as against the PAT of the corresponding quarter and previous quarter of Rs 520 Crore and Rs 623 Crore respectively.
PETRONET LNG, August 13, 2021
SOUTHEAST ASIA
Petronas delivers its first carbon neutral LNG cargo
Petronas has completed the delivery of its maiden carbon neutral liquefied natural
gas (LNG) cargo to Shikoku Electric. The cargo was delivered from the Petronas LNG Complex (PLC) in Bintulu and was received yesterday at the Sakaide LNG terminal in Shikoku Island, Japan.
Petronas has offset the estimated life cycle carbon footprint of the LNG cargo through renewables-based carbon credits for the emissions generated from upstream gas exploration and production, transportation, liquefaction, and shipping of the cargo.
Additionally, the carbon credits used
by Petronas for the delivery were certified through a rigorous verification process under the Verified Carbon Standard program, which is globally recognised and has been adopted by energy players and producers.
Above and beyond the maiden carbon neutral LNG cargo, Petronas is also reducing its carbon footprint throughout its LNG
and gas value chain. These carbon reduction efforts, among others, include powering
the PLC with 90MW of hydroelectricity, conducting flare recovery as well as carbon capture and storage from offshore gas fields. PETRONAS, August 18, 2021
Pavilion names interim CEO
Pavilion Energy has named Mr Alan Heng
as Interim Group Chief Executive Officer, effective 26 August. Mr Heng will succeed Mr Frédéric H. Barnaud who has elected to step down as Group Chief Executive Officer and return to Europe to be with his family.
Pavilion Energy Chairman, Tan Sri Mohd Hassan Marican, said, “Frédéric has laid a strong foundation for the Group with the development of its LNG business and its expansion into Europe. On behalf of the Board, Management and Staff, I would like to thank Frédéric for his leadership of Pavilion Energy in the past three and a half years. The Board wishes him all the best for the future.”
Alan Heng is currently the Managing Director- Asia at Pavilion Energy. He joined Pavilion Energy in 2013 and has been instrumental in developing its activities in the Singapore Hub. He has been in the energy industry for 33 years and was previously in various management positions in ExxonMobil PAVILION, August 18, 2021
Jadestone provides
guidance, operations
update
Further to the announcement on June 9 and the closing of the SapuraOMV Peninsular Malaysia acquisition earlier this month, Jadestone Energy, an independent oil and gas production company focused on the Asia Pacific region, provides updated operational and financial guidance for 2021 ahead of its H1 2021 operating and financial results on 9 September 2021
H1 group production was slightly ahead
of plan at 9,934 bpd. Average full-year 2021 production guidance of between 11,500– 13,500 boepd remains unchanged. Includes 9,000–10,500 bpd from the Australia assets, reflecting H1 2021 performance, and the revised contributions from the Montara H6 infill well and the Skua 10 and 11 subsea well workovers, due to the late arrival of the Valaris 107 drilling rig and longer than expected drilling at the Montara H6 well causing a circa one month delay in the work programme. Slight delays to Stag workovers due to COVID restrictions on people and equipment. Includes daily production from the Peninsular Malaysia assets of a little over 6,000 boepd, post-closing on 1 August 2021 net to Jadestone and consistent with production levels at the time of the announcement of
the acquisition, with some potential upside, equivalent to 2,500–3,000 boepd annualised production.
Average 2021 unit production cost guidance is unchanged at US$25.50–29.50/boe, and reflects the updated production guidance outlined above. Spending in 2021 of US$105– 115 million, compared to US$85–95 million previously, which includes capital expenditure and major non-recurring opex. Reflects updated estimates on the anticipated scope of work necessary to restore production from the Skua subsea wells, and the revised cost of the H6
infill well at Montara, where the well has been sidetracked due to mechanical equipment issues. JADESTONE ENERGY, August 18, 2021
OCEANIA
ACCC report underlines
importance of gas-fired
recovery
The latest report of the Australian Competition and Consumer Commission (ACCC) Gas Inquiry underlines the importance of the Morrison Government’s gas-fired recovery and support for further development of the nation’s gas resources.
In its latest interim report for mid-2021, the ACCC found there is sufficient supply in the market for 2022.
The ACCC also reaffirmed its view that more gas needs to be brought to market to avoid any potential future shortfalls, in line with the Government’s gas-fired recovery and the findings from the recent Interim National Gas Infrastructure Plan (NGIP).
The report notes the importance of getting more gas into the southern states, the key role of storage in the market and the potential ongoing need for LNG producers to supply gas to the domestic market.
Prices for supply in 2022 trended downwards in the first half of 2020 and, since mid-2020, most offers have been in the range of $6-8 per gigajoule (GJ).
The ACCC will continue to monitor LNG producers’ compliance with the Heads of Agreement to ensure the 101 petajoules (PJ) of uncontracted gas in Queensland is made available to Australian gas users.
Treasurer Josh Frydenberg said the Government will continue to ensure domestic gas users receive the best deals and that prices remain affordable.
The latest ACCC report, along with more recent gas market activity, demonstrates the importance of the gas-fired recovery to ensure the best outcomes for Australian households and businesses,” the Treasurer said. AUSTRALIAN MINISTRY FOR RESOURCES AND WATER, August 17, 2021
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