Page 14 - AsianOil Week 37

AsianOil
NEWS IN BRIEF
AsianOil
A S I A - P A C I F I C
safely increase LNG production and improve economic efficiency with no plant modifications. CHIYODA, September 11, 2019
30%, GPI 16.5%, GHJ Seram Indonesia 10%, Lion 2.5%.
Lion’s remains interested in increasing its interest in SNB to compliment its 100% interest in the recently awarded adjacent East Seram PSC. Lion has the dominant land position on the new un-creamed & immature Manusela play. LION ENERGY, September 12, 2019
EAST ASIA
GTT receives two new orders from HHI
GTT has received two orders from the Korean shipyard Hyundai Heavy Industries (HHI), each concerning the tank design of one new LNGC, one on behalf of the ship-owner Tsakos and the other one on behalf of Capital Gas Carriers.
Each unit will offer a capacity of 174,000 m3.
GTT will design the tanks of the vessels, which will be fitted with the Mark III Flex membrane containment system. The delivery of the ships is planned during the fourth quarter of 2021.
GTT, September 11, 2019
OCEANIA
Transborders to collaborate with Osaka Gas
Transborders Energy (Transborders) is pleased to advise that it has signed
a Memorandum of Understanding for Collaboration (MoU) with Osaka Gas.
This MOU will facilitate information and knowledge sharing for both companies to evaluate projects that could commercialise stranded offshore gas resources based on Transborders’ FLNG Solution.
Transborders’ FLNG Solution provides a pre- engineered one point three (1.3) million tonne per annum floating LNG facility with a package of streamlined commercial arrangements and a robust regulatory approval execution plan to gas resource owners.
Transborders’ Chairman Jack Sato says, “Osaka Gas’s capabilities in the LNG business are world class. We look forward to seeking insights and support from Osaka Gas to strengthen the development of our venture.”
Transborders is currently conducting Pre-FEED work and pre-negotiation of key commercial terms for its FLNG Solution. By the end of 2019, Transborders will be in a position to convert a range of stranded gas resources into ‘project sanction (FID) ready’ state within 24
SeaBird to provide vessel forAsia-PacificOBNproject Lion,GPIterminateSPA
SeaBird Exploration is pleased to announce that it has received a letter of award to provide a source vessel for an upcoming ocean-bottom node (OBN) project in the Asia Pacific region. The project is anticipated to commence during Q4 and will have a duration of one to two months. SeaBird will be using the Voyager Explorer for the project.
SEABIRD EXPLORATION, September 16, 2019
SOUTHEAST ASIA
Chiyoda uses AI to boost Indonesian LNG production
Chiyoda is pleased to announce that it has confirmed increased LNG production with PT Donggi-Senoro LNG at the end of July 2019 on their facility, utilising AI developed by Chiyoda with its strategic partner, GRID Inc to improve the productivity of LNG facilities.
The facility has increased production through improved efficiency using “LNG plant AI optimiser”, which learns through operating experience and regularly advises plant operators of optimum operational parameters.
This is the first project in the world where an innovative AI product – Deep Learning has been introduced on an existing LNG facility to
Lion Energy previously announced on December 12, 2018 that it entered into a conditional sale and purchase agreement (SPA) with Gulf Petroleum Investment (GPI) to acquire GPI’s 16.5% stake in the Seram (Non Bula) Production Sharing Contract (SNB PSC), increasing Lion’s stake in SNB to 19%.
By way of background, the SNB PSC is in the process of being converted from a legacy cost recovery styled PSC to the more innovative new gross split PSC format. The new PSC is effective November 1, 2019.
The Proposed Transaction was subject to various conditions, including approval from the Government of Indonesia (“GOI”). The Proposed Transaction involved the purchase by Lion of GPI’s rights and obligations in both the Current PSC and the New PSC.
The GOI has indicated that whilst it can approve the transfer of GPI’s interest to Lion in the Current PSC contract, it believes that existing participants in the New PSC are restricted from selling more that 50% of their participating interest in the first five years, during the New PSC firm work commitment period.
The parties have therefore mutually agreed to terminate the SPA.
For clarification purposes, the interests in SNB will remain as follows: CITIC Seram Energy (operator) 41%, Petro Indo Mandiri
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Week 37 18•September•2019