Page 18 - AsianOil Week 20

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
ONGC, NTPC sign MOU on renewable JV
Oil and Natural Gas Corporation Limited (ONGC) and NTPC ltd are planning to set up a Joint Venture Company for Renewable Energy business. The two Maharatnas entered into a Memorandum of Understanding (MoU) on 21 May 2020 in Delhi to formalize this arrangement. The MoU will enable
both companies to achieve their targets in Renewable Energy business.
The MOU was signed by ONGC
Director (Finance) and In-charge Business Development and Joint Ventures Mr. Subhash Kumar and Director (Commercial) NTPC, Mr. A K Gupta. ONGC CMD Mr. Shashi Shanker and NTPC CMD Mr. Gurdeep Singh (on Virtual conferencing) along with the Directors of two public enterprises witnessed the occasion.
As per the MoU, NTPC and ONGC
will explore and set up Renewable Power assets including offshore wind, in India and overseas, and explore opportunities in the fields of sustainability, storage, E-mobility and ESG (Environmental, Social and Governance) compliant projects.
ONGC, May 21, 2020
SOUTHEAST ASIA
Petronas partners with TCS
to transform its Integrated
Value Chain
Tata Consultancy Services (TCS), a leading global IT services, consulting
and business solutions organization, and Petronas, Malaysia’s fully integrated oil and gas multinational, have announced their collaboration on Project DOVE (Drive Optimisation Value for Enterprise).
The DOVE platform, co-designed by TCS, endeavors to elevate data transparency, increase personal accountability and promote enterprise collaboration through advancing digital competencies and tools within Petronas by tapping into information from its downstream operating companies as well as updated competitor and market information, creating a data pool for real-time intelligence. The platform is supported by advanced analytical models and tools, such as retail and commercial demand forecasting, vessel
scheduling optimisation and product pricing recommendations that enable optimised decision-making.
The resulting digitally empowered workforce and end-to-end visibility of the entire value chain has enhanced Petronas’ ability to respond swiftly and more effectively to meet customer demands and expectations. TATA CONSULTANCY SERVICES, May 14, 2020
Petronas inks LNG deal with Tiger Clean Energy
Petronas through its subsidiary, Petronas LNG Ltd. (PLL), recently concluded a Sale and Purchase Agreement (SPA) with Tiger Clean Energy Limited (TCEL) for the supply of liquefied natural gas (LNG) to TCEL’s LNG ISO Tank Filling Facility located at Bintulu, Sarawak. As part of the agreement, delivery of the LNG to China will be undertaken
by TCEL, which will then be distributed to remote locations using TCEL’s ISO tanks.
This term sale which facilitates the delivery of LNG via LNG ISO tanks is a customer- centric and pragmatic solution undertaken
by Petronas that supports and enables greater accessibility to cleaner energy, particularly for remote customers located away from physical LNG pipelines and customers with smaller parcel requirements. Furthermore, delivery
of LNG via ISO tanks can also act as an agile back-up solution to meet excess demand with pace as compared to large vessel deliveries which may be restricted by rigid delivery schedules.
Due to the ongoing COVID-19 outbreak followed by movement restriction controls implemented globally, the signing of the SPA was conducted through a video tele- conference, which is the first LNG deal of its kind concluded and commemorated
on the virtual sphere for Petronas. The e-commemoration ceremony was witnessed by Petronas Vice President of LNG Marketing and Trading, Ahmad Adly Alias.
PETRONAS, May 20, 2020
Petronas completes 50%
farm-down in Suriname
block
Petronas through its subsidiary, Petronas Suriname Exploration & Production B.V. (PSEPBV), has completed the farm-down of 50 per cent of its participating interest to ExxonMobil Exploration and Production Suriname B.V. (ExxonMobil) from a 100 per cent participating interest in Block 52, offshore Suriname.
Block 52 is located north of the coast of Paramaribo, Suriname’s capital city, and is situated in the prospective Suriname-Guyana basin where several major hydrocarbon discoveries were made recently. Block 52 covers an area of 4,749 km2 with water depths ranging from 50 to 1,100 meters.
Subsequent to the farm-down, PSEPBV
as the operator of Block 52 holds 50 per cent equity, while ExxonMobil holds the remaining 50 per cent.
PETRONAS’ Vice President of Exploration, Emeliana Rice-Oxley said: “Our upcoming exploration activities for Block 52 will involve the drilling of a well in Q3 2020, in addition
to acquiring new 3D seismic data utilising the latest technology, covering the whole block to further evaluate the block’s upside potential. We look forward to this partnership with ExxonMobil and are determined to continue with the success story on hydrocarbon discoveries in the basin.”
In 2016, PSEPBV drilled the Roselle-1 well in Block 52 which provided crucial subsurface information and data on the petroleum system of the area. Subsequent detailed analysis carried out by PSEPBV indicated that Block 52 contains multiple geological play types and is within the favourable fairway for hydrocarbon generation and accumulation. The recent oil discoveries in an adjacent block further support this assessment.
PETRONAS, May 19, 2020
KrisEnergy confirms interim CFO as permanent
KrisEnergy, an independent upstream oil and gas company, announces that the Board of Directors has appointed Ms Joanne Ang, currently the Group’s interim Chief Financial Officer (CFO), as permanent CFO with immediate effect.
“The Board has reviewed and considered the qualifications, relevant experience and past performance of Ms Joanne Ang, and upon the recommendation of the Nominating Committee, has approved the appointment
of Ms Joanne Ang as the permanent Chief Financial Officer of the Company,” said a statement from the Board.
KRISENERGY, May 19, 2020
OCEANIA
New land opens to support more gas projects and jobs
Gas industry activity is about to fire up with more than 6700 square kilometres of land
P18
w w w . N E W S B A S E . c o m
Week 20 21•May•2020