Page 11 - LatAmOil Week 43 2019

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“Considering the environmental and social benefits, our project has the potential to displace very large volumes of diesel, coal, LPG and heavy fuel oil (HFO) consumption with cheaper LNG, allowing significant reduction of greenhouse gas emissions and creating unique technical and economic development opportunities for the local populations.”
Golar LNG CEO Iain Ross commented: “the award of this new project supports our current strategy to transform Golar LNG into a world-leading LNG infrastructure player deliv- ering cheaper and cleaner energy solutions sup- ported by cash flow from long term contracts.” Golar LNG, October 21 2019
SERVICES
McDermott announces
substantial completion of
Pemex Abkatun-A2 platform
McDermott International today announced sub- stantial completion of Pemex Exploracion y Pro- duccion’s Abkatun-A2 Platform. The production platform is located in Mexico’s Bay of Campeche in the Gulf of Mexico.
This milestone means the platform has now been turned over to the owner to begin commer- cial operations.
“With substantial completion of the Abkatun-A2 Platform project successfully achieved, Pemex is ready to begin commercial operations,” said Mark Coscio, McDermott’s Senior Vice President for North, Central and South America. “The project demonstrates our
ability to deliver a vertically integrated, turnkey EPCI solution to build and commission plat- forms and associated structures utilizing our project management, engineering and fabrica- tion teams in Mexico.”
The Abkatun-A2 Platform is McDermott’s largest project in size and total value to date for PEMEX. The platform will provide replace- ment and expansion capabilities to the existing Ku-Maloob-Zaap, Cantarell and Ayatsil facili- ties. McDermott performed fabrication for the Abkatun-A2 project at its Altamira, Mexico fabrication facility and used its Derrick Barge 50 and Intermac 650 vessels to transport and install the platform.
The Altamira yard is strategically positioned as a free trade zone and provides fabrication ser- vices for the Gulf of Mexico and Americas. The yard is known for its high-quality craftsmanship and exemplary safety standards.
McDermott International, October 28 2019
TGS announces 3D project offshore Argentina
TGS announced today a new 3D multi-client project offshore Argentina. The Malvinas 3D survey will cover approximately 7,300 square km of the highly prospective Malvinas Basin, which saw spirited interest during Argentina’s Round 1 earlier this year. The survey will employ one Shearwater vessel, with operations set to com- mence in Q4-2019 and run until Q2-2020. Initial products will be available in early 2021, with final products set for H2-2021.
Kristian Johansen, CEO of TGS, commented: “We are very pleased to announce this offshore Argentina project. The Malvinas MC3D survey
clear supports TGS’ growth initiative in the South Atlantic and will build on the great momentum seen by the previous Spectrum 2D campaign in helping toopen up this frontier area for greater exploration. We will continue to prioritise this high-potential region and look forward to pay- ing a dynamic role in future developments.”
The project is supported by industry fund- ing. TGS operates as NOPEC Geophysical in Argentina.
TGS, October 30 2019
POLICY
Petrobras comments on
amendment to transfer of
rights agreement
Petrobras, in addition to the press release issued on May 21, 2019, reports that its board of direc- tors has ratified the signature and approved adjustments to the draft amendment to the transfer of rights agreement.
Such ratification occurs after the issuing of MME Ordinance No. 265 of June 21, 2019, and MME Ordinance No. 363/2019, of September 18, 2019, which amended MME Ordinance No. 213/2019, of April 23, 2019, in view of the com- pany’s understanding that such regulations are acceptable and reflect the implementation of rec- ommendations by the Federal Court of Accounts (TCU) to the Ministry of Mines and Energy.
Adjustments to the draft of the Amendment were also made as a result of a formal request from the Ministry of Mines and Energy, in response to reservations made by TCU, and do not affect Petrobras’ rights.
The amendment provides for the reimburse- ment to Petrobras of $9.058bn, which, converted to Reais according to the rules of the transfer of rights agreement and updated by the Selic rate until September 30, 2019, reach a total of BRL34.075bn. The amount of the reimburse- ment will be adjusted by the Selic rate until its effective settlement, which will occur together with the receipt by the federal government of an amount equal to or higher than the signing bonus of the bidding process of the volumes exceeding the transfer of rights agreement or until December 27, 2020, whichever happens first.
The collegiate body also recommended that the execution of the amendment be postponed until 10/31/2019 – that is, prior to transfer of rights surplus bidding, and that its signature is subject to the budgetary solution for the pay- ment by the federal government to Petrobras. Petrobras, October 23 2019
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