Page 18 - AsianOil Week 39

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA There was a leakage of gas in Gas Terminal Maari acquisition revised
of ONGC’s Hazira Plant in the early hours of
GAIL maintains CNG and 24 September 2020. Due to this, a modest fire long stop date
broke out at around 0300 am.
D-PNG supplies despite immediately and started remedial actions to Jadestone Energy, an independent oil and
ONGC Team in the Plant responded
gas production company focused on the Asia
upstream disruptions contain the fire. The emergency alarm systems Pacific region, has agreed with OMV New
were immediately actuated and the Plant was
Zealand Limited (“OMV”) to amend the long
Due to the fire break-out at ONGC Gas shut down. Large scale depressurizations, stop date for the Company’s acquisition of
Processing Plant, Hazira, in the early hours of due to shut-downs of the units, resulted in a 69% interest in the Maari Project, shallow
Thursday, about 30 MMSCMD of natural gas excessive flaring and blast-like noises. water offshore New Zealand.
supplies into GAIL’s north-western pipeline The affected units of the Plant were isolated The parties have made substantial progress
network (HVJ system) was immediately and depressurized and the Fire was brought toward satisfying the Acquisition’s closing
shut-off by the upstream major, to contain any under control and extinguished in 4 hours, by conditions, including obtaining the majority
further damage. 0735 am on 24 September. Cooling of the site of third party consents. As a precautionary
In the force majeure event triggered by the was, however, continued for safety. measure in acknowledgement of the
ONGC Hazira incident, supply cuts upto 40% The accident did not cause any casualty or remaining closing condition, being final New
against current allocations has been imposed injury to any person. Zealand Government regulatory approval,
on the downstream customers. However, The boundary wall of the ONGC Plant is and amidst the New Zealand 2020 general
uninterrupted supplies are continued to situated at a significant distance from the site election, the Company and OMV have agreed
be maintained to the CGD customers for of fire. The height and design of the boundary to revise the long stop date from November
supporting domestic kitchens (D-PNG) and wall is such that it prevents the fire to spread 15, 2020 to January 31, 2021.
public transportation (CNG). outside and hence insulates nearby areas from Both parties remain fully committed to the
GAIL north-western pipeline grid supports the activities inside. transaction and the Company continues to
about 80 MMSCMD and there is no damage ONGC, September 25, 2020 anticipate closing the Acquisition by the end
to the network due to the unfortunate incident of 2020.Jadestone intends to establish New
at ONGC facilities at Hazira. Zealand as an extension to its Australia core
GAIL is committed for safe operation of SOUTHEAST ASIA area, and sees the Maari Project as a natural fit
the pipeline network and is maintaining close with its strategy to acquire and reinvest into
coordination with ONGC teams at the site, MedcoEnergi successfully mid-life producing assets.
towards speedier restoration of natural gas JADESTONE ENERGY, September 25, 2020
supplies through alternative systems. closed trading period of
GAIL, September 24, 2020 Mitsubishi to build gas-

ONGC resumes operations 2020 rights issue fired power plant in
Medco Energi Internasional announces that
in Hazira Plant within a day it has successfully closed its 2020 Rights Issue Thailand
trading period. Initial subscriptions were
after fire received from 98% of shareholders, who Mitsubishi Power, a major subsidiary of the
oversubscribed by 43%. The IDR 1,785 billion
Mitsubishi Heavy Industries (MHI), signed
ONGC worked on war-footing and restored (~US$122 million) proceeds will be used for a full turnkey contract for the engineering,
operations in its Hazira Gas Processing General Corporate Purposes and working procurement and construction (EPC) of a
Plant near Surat within a day after fire. Gas capital. Further details are available in the 1,400 MW power plant with Hin Kong Power
supply to consumers has been restored on 25 Prospectus and newspaper disclosures. Company Limited, an independent power
September 2020 – a day after the fire. MEDCOENERGI, September 25, 2020 producer (IPP) in Thailand. Mitsubishi Power
will provide two M701JAC gas turbines
for the natural gas-fired turbine combined
cycle (GTCC) facility. The contract includes
a 25-year Long Term Service Agreement
(LTSA) for the project. Under this agreement,
Mitsubishi Power will provide maintenance
on the power plant’s gas turbines to help
ensure reliable operations. Commercial
operations will begin in March 2024 and
January 2025.
The GTCC facility will be built
approximately 100 kilometers west of
Bangkok. The owner, Hin Kong Power
Company Limited, is a special purpose
company (SPC) jointly established by RATCH
Group Public Company Limited and Gulf
Energy Development Public Company
Limited, two major IPPs in Thailand. Power

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