Page 18 - AsianOil Week 43 2020

AsianOil NEWS IN BRIEF AsianOil

Narrabri gas project received approval
from the New South Wales Independent
Planning Commission.
Santos Managing Director and Chief
Executive Officer Kevin Gallagher said
community ahead of the long holiday and event was also attended by members of the Santos had delivered another solid quarter,
the celebration of the Prophet’s birthday, Board of Directors and employees. highlighted by record production and
Pertamina, through the Marketing Operation Accordingly, PVOIL appointed Mr. sales volumes, and another strong free
Region (MOR) I of West Sumatra, is taking Nguyen Quang Nham, deputy manager cash flow result. “Our disciplined, low-cost
anticipatory steps by implementing a in charge of the HSE Department to the operating model continues to drive strong
facultative addition of 3 kg LPG. position as Deputy Head of Petroleum performance across our diversified asset
“In the normal period, the distribution Technical Department. Mr. Trinh Tran portfolio.
of 3 kg LPG in the Siak area is around 353 Giang – expert at the Quality Safety SANTOS, October 22, 2020
thousand tubes per month. To anticipate Department and General Director Assistant
the increase in demand ahead of the long of the Corporation holds the position as State announces SPP
holiday, we will add about 17 thousand Deputy Manager in charge of the HSE
tubes. So it is estimated that the total Department. completion
distribution this month will reach 370 PETROVIETNAM, October 23, 2020
thousand tubes,” he said. Nurhidayanto, State Gas is pleased to advise that the Share
Acting Unit Manager Comm, Rail, & CSR Purchase Plan (SPP) offered to eligible
Marketing Operation Region (MOR) I. OCEANIA shareholders alongside the recent $9.5 million
Not only did Pertamina increase supply, private placement closed on 22 October 2020
Pertamina also tightened supervision, one Santos releases Q3 receiving strong support.
of which was by stipulating that the bases Given the strong support shown by
were only allowed to sell 3 kg LPG to buyers activities report eligible shareholders, the Company decided
who attached a photocopy of their ID card. to increase the SPP size from its original
The number of purchases is limited to Third quarter production of 25.1 mmboe was target of $2 million to $4.9 million.
one tube for one head of family. This is to a record for Santos and 22% higher than the The SPP offer was made to 719 eligible
minimize the action of retailers who take prior quarter. Production was higher in all shareholders, with valid applications
advantage of facultative additions. five core assets, primarily driven by higher received from 246 eligible shareholders for
“In ensuring that the distribution of domestic gas and LNG volumes. a total value of approximately $4.9 million.
3 kg LPG is more on target, we continue Quarterly sales revenue of US$797 Valid applications received represented a
to coordinate with the Department of million was 2% higher than the prior participation rate of over one third of eligible
Industry and Trade of Siak Regency and quarter, demonstrating the strength of shareholders with an average application
the police so that together they carry out Santos’ diversified portfolio of fixed-price amount of approximately $20,000.
direct supervision in the field through domestic gas contracts combined with a The combined funding of almost
unannounced inspections (sidak),” higher equity level in Bayu-Undan, which $14.5 million from the SPP and private
explained Nurhidayanto. more than offset lower JCC-linked LNG placement will allow State Gas to undertake
A total of 346 bases that supply LPG to pricing. a more significant appraisal program at
residents in Siak Regency have also been Santos’ disciplined operating model its 100%-owned Reid’s Dome Gas Project
ordered to sell LPG only to those who are continues to drive costs lower, with 2020 (PL 231) and also commence drilling and
entitled. “It is forbidden to sell LPG to upstream unit cost guidance lowered to testing at the contiguous Rolleston West
retailers, let alone sell it on HET. If proven US$8.25-8.75/boe. Project (ATP 2062) very soon after its
violating, we will not hesitate to impose Santos generated US$143 million in recent award to State Gas.
sanctions, “said Nuhidayanto. free cash flow in the quarter, bringing The proceeds will also assist in funding
PERTAMINA, October 23, 2020 total free cash flow for the nine months planning and approval activities for the gas
to-date to US$574 million. Targeting 2020 pipeline and related infrastructure to export
PVOIL’s petroleum free cash flow breakeven oil price of less gas from the neighbouring PL 231 and ATP
than US$25 per barrel (before hedging)
2062 projects.
technical, HSE divisions and approximately US$20 per barrel (after with an opportunity to increase their
“The SPP provided eligible shareholders
hedging).
have new leaders US$3,677 million and gearing was 33.6%. investment and was a resounding vote
Net debt at the end of September was
of confidence in State Gas,” Executive
On October 23rd, 2020, PetroVietnam Barossa LNG project continues to Chairman, Richard Cottee commented.
Oil Corporation organised a ceremony to progress toward FID-ready status by year- “The proceeds from the SPP, when
appoint new leaders of the corporation’s end, subject to business conditions, joint combined with the preceding private
Petroleum Technical and Health, Safety and venture agreements and relevant approvals, placement of $9.5 million not only
Environment divisions. while pre-FEED work continues on the strengthens our resolve to meet our
The ceremony was chaired by Mr. Cao Dorado oil project. Target 2022 objectives but also enables the
Hoai Duong, the corporation’s Secretary Moomba CCS project progressing Company to take its first steps to creating a
of the Party Committee and Chairman of well through FEED with the successful new “super-gas region” within our wholly-
the Board of Management, and PVOIL completion of a CO2 injection trial into the owned acreage at a time of national need.”
President & CEO Doan Van Nhuom. The target storage formation. STATE GAS, October 27, 2020

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