Page 11 - AsianOil Week 42

AsianOil
NEWS IN BRIEF
AsianOil
several major PSC’s that produce more than 45% of Indonesia’s current oil production.
The Selat Panjang PSC has a 20 year term with a signature bonus of US$5 million and a five year work program commitment of US$74 million. The production sharing contract is structured with variable incentives which make the gross split terms and conditions very attractive for the consortium.
Sonoro holds a 25% interest in the PSC with an option to acquire an additional 24% after completion of project milestones. Sonoro will provide services as Operator of the project.
SONORO ENERGY, October 15, 2019
EAST ASIA
JERA, EVN to co-operate in LNG value chain
JERA has entered into a memorandum
of understanding (MOU) with Vietnam Electricity (EVN) concerning cooperation in the LNG value chain business.
Under the MOU, JERA and EVN will discuss opportunities for mutual collaboration in the LNG value chain business. Specific areas for discussion include joint procurement of LNG, joint development of LNG receiving terminal projects, cooperation in introducing LNG to EVN power plants and collaboration on LNG shipping optimization.
LNG is expected to be introduced in Vietnam due to steady growth in electricity demand and depletion of domestic resources. Together with its subsidiaries, EVN owns approximately 60% of the country’s power generation capacity and supports the country’s economic development by providing a stable supply of electricity. EVN also aims to procure LNG for use in power generation as demand for electricity increases. JERA believes that strengthening its relationship with the leading energy company in Vietnam,
a country which is expected to see increased demand for LNG, will greatly contribute to expanding business opportunities for both EVN and JERA.
JERA will continue to work together with LNG industry counterparts both within and outside Japan to strengthen its LNG value chain business and seek opportunity in an LNG market undergoing great change.
JERA, October 18, 2019
OCEANIA
Woodside publishes Q3 results
Woodside produced 24.9mn boe, up 44% from the previous quarter. Delivered sales revenue of $1.16bn, up 58% from the previous quarter. Achieved 99.7% reliability at Pluto LNG with record quarterly production and daily production rates.
ItproducedfirstoilfromtheGreaterEnfieldProject duringthequarterandexecutedmajorintegrated turnarounds at the North West Shelf Project.
It also signed mid-term agreements for the supply of approximately 3.5mn tonnes of LNG in the period 2020 to 2026.
Woodside CEO Peter Coleman said Pluto LNG had achieved record production rates, record quarterly production and 99.7% reliability following execution of the major turnaround in the previous quarter.
“Pluto LNG is performing strongly and demonstrating outstanding reliability following the turnaround. We are also achieving pleasing performance from the Ngujima-Yin FPSO following completion of the Greater Enfield Project, with over 2.5 million barrels of oil (100%) produced from the facility since restart. Pluto LNG and the near term growth delivered by the Greater Enfield Project will be key contributors to our 2020 production target of approximately 100 MMboe.
“Our major growth projects are progressing well towards key decision points. For the SNE development in Senegal, we are completing internal technical, cost and schedule reviews ahead of a targeted final investment decision before the end of the year.
“We have taken a final investment decision for the Pyxis Hub Project, comprising the subsea tieback of the Pyxis, Pluto North and Xena 2 infill wells, with key contracts awarded to support design and installation of subsea equipment infrastructure. Development of the Pyxis Hub will support the future operation of Pluto LNG, the Pluto-NWS Interconnector and the broader Burrup Hub vision.
“The technical work for Scarborough continues as planned in support of FID targeted for H1 2020. We are progressing the negotiation for the Browse gas processing agreement and the Browse Joint Venture remains aligned on being ready to commence FEED in Q4 2019. WOODSIDE PETROLEUM, October 17, 2019
Santos publishes Q3 results
Santos produced 19.8mn boe in the third quarter, which was a record for the company and 32% up on the corresponding quarter. Production was 7% higher than the second quarter with higher production from all Australian assets.
It posted record sales volumes of 25.2mn boe, which were 25% higher than the corresponding quarter. Sales revenue of $1.03bn was the second highest quarterly revenue on record.
Well tests confirmed the Dorado field is capable of producing flow rates at the higher end of pre-drill expectations. The oil test rate of 11,100 bpd (facilities constrained) was one of the highest ever from a North West Shelf appraisal well test. Well test results supportive of FEED- entry in early 2020.
Santos generated $214mn in free cash flow in the quarter, bringing total free cash flow for the nine months to $852mn.
SANTOS, October 17, 2019
Emperor, APA sign MoU on Judith gas production
The directors of Emperor Energy are pleased to announce that Emperor Energy and APA Group have entered into a non-binding Memorandum of Understanding (MOU) to agree the scope and commercial framework for the provision of midstream infrastructure and services related to gas that will potentially be produced from the Judith Gas Field in the 100% Emperor Energy owned
VIC/P47 Permit in the offshore Gippsland Basin, Victoria.
The MOU will direct and facilitate the negotiation of definitive Transaction Documents whilst providing a path for agreement on an initial work plan to finalise and execute the Transaction Documents.
Emperor Energy and APA have been in regular confidential discussions relating to the Judith Gas Field for more than 12 months. APA have been regularly updated on the detailed studies of the Judith Gas Field completed by Emperor and the subsequent Judith Gas Field Resource Statements. APA have recently completed desk top due diligence in relation to the Judith Gas Field.
Emperor Energy considers the establishment of an MOU with APA to be a major milestone in progressing the development of the Judith Gas Field. Emperor continues to liaise with potential exploration and production partners for the drilling of the Judith 2 Exploration and Appraisal Well.
EMPEROR ENERGY, October 16, 2019
Week 42 23•October•2019
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