Page 18 - AsianOil Week 27

AsianOil NEWS IN BRIEF AsianOil

Jura announces entry by KrisEnergy (Apsara) and
SOUTH ASIA dated 30 April 2020 in relation to the
IndianOil commences commencement of drilling KrisEnergy (Cambodia), both wholly-
owned indirect subsidiaries of the Group,
works on projects worth in Guddu Block into a credit facility agreement with
Kepinvest Singapore as lender. Unless
INR1.04 trillion Jura Energy announced today that the otherwise defined, all capitalised terms
used in this announcement shall bear the
drilling of Umair NW – 01 exploratory well
Indian Oil Corporation Ltd. (IndianOil) has commenced in the Guddu Block. The same meanings in the Announcement.
has resumed works at its various project sites projected depth of the well is 800 meters, As announced in the Announcement, there
across the country after the easing of lockdown which will target the Pirkoh and Habib Rahi are certain mandatory prepayment events under
from 20th April 2020. Gearing up to ramp Limestone formations of Eocene age. the Loan Agreement. This includes the failure
up activities, IndianOil is taking all necessary The Guddu Block covers an area of to complete the Restructuring by 15 July 2020
precautions to ensure that its entire workforce approximately 2093 sq.km and is located in (or such other date as may be agreed). The
is aligned to the ‘New Normal’ and detailed the prolific Middle Indus Basin, close to major Board is pleased to announce that the Lender
advisories issued from time to time, for the industrial gas markets and infrastructure. and the Borrowers have now entered into an
safety and health of the employees and workers Jura holds a 13.5% pre commerciality agreement for the extension of the completion
during these COVID times, are being strictly working interest in the Guddu Block, which date of the Restructuring from 15 July 2020 to 30
followed. is operated by Oil and Gas Development September 2020.
Since the easing of the lockdown, IndianOil Company Limited. In relation to a separate mandatory
has commenced works on 336 projects that JURA ENERGY, July 7, 2020 prepayment event in the Loan Agreement,
have investment of more than Rs 1 Crore in which makes reference to the occurrence of
each project, at an anticipated project cost the Interest Trigger Date by the earlier of (a)
totalling to Rs 1.04 Lac Crores (Rs 1.04 Trillion). SOUTHEAST ASIA the date on which the aggregate amount of
The amount spent on these ongoing projects interest accrued on the Loans and the Other
is about 1,764 Crores till the end of June 2020. KrisEnergy amends loan Payments is equal to the Interest Cap; and (b)
Additionally, more than 50 projects have also the Shareholder Approval Date, the Board
resumed since 1st of July 2020. IndianOil has agreement with Kepinvest wishes to announce that the Interest Trigger
targeted a CAPEX of Rs 26,143 Crores during Date has since occurred upon the successful
FY 20-21 and in the first quarter achieved Singapore obtaining of shareholders’ approval for the
an approx. expenditure of Rs 2,674 Crores, Loan Facility at the Company’s extraordinary
overcoming various issues faced on-ground due The Board of Directors of KrisEnergy, general meeting held on 29 June 2020.
to the Coronavirus pandemic. an independent upstream oil and gas Accordingly, the Interest Cap in relation to the
INDIANOIL, July 8, 2020 company, refers to its announcement Loan Facility ceased to apply on and from 29
June 2020.
KRISENERGY, July 8, 2020
PVOIL Lao, PVOIL Lao
Trading get new director

On July 6 2020, PVOIL organized a ceremony
to announce the decision to appoint Ms. Le
Thanh Thuy as Director of PetroVietnam
Oil Lao (PVOIL Lao) and Director of
PetroVietnam Oil Lao Petroleum Domestic
Trading (PVOIL Lao Trading).
Under the decision, Ms. Le Thanh Thuy
replace Mr. Le Trung Hung for the positions,
who Mr. Le Trung Hung was decided by PVOIL
to stop being the Representative, and stop
holding managerial positions at PVOIL Lao and
PVOIL Lao Trading to hold new tasks. Before
taking the positions, she was deputy director of
these two companies.
Due to the impacts of the COVID-19
pandemic, the nomination ceremony was
conducted online, with the participation of the
Board of Management and Board of Directors of
PVOIL, leaders and key officials of PVOIL Lao
and PVOIL Lao Trading.
PVOIL, July 6, 2020

P18 www. NEWSBASE .com Week 27 09•July•2020