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Authority and the Australian Maritime Safety
Authority (“AMSA”), to ensure the model
complies with all relevant laws and regulations
and to obtain their acceptance.
This includes both the requisite updates to
the Company’s safety case for the Stag asset, and
agreement that the vessels should be regulated
by AMSA.
JADESTONE ENERGY, September 3, 2020
Twinza signs co-operation

agreement with Gulf

Province

Twinza has entered into a Memorandum of
Agreement (MOA) with the Gulf Provincial
Government of Papua New Guinea. The
agreement, that was signed by the Governor
of Gulf Province, Hon. Chris Haiveta MP and
Ian Munro, Chairman and CEO of Twinza
Oil, establishes a co-operative relationship
between the parties that can deliver material
(MHI) Group, have been successfully Jadestone’s 100% owned and operated Stag benefits to the province and the country.
installed on 22 ships of 3 ship types during oilfield produces crude oil via a fixed leg, central The MOA provides for gas from Pasca A and
the last 8 months from the beginning of processing facility platform, which, since the other Gulf of Papua fields to supply a power-
this year. Whilst the infection of COVID-19 field’s original development, has been offloaded to-shore solution funded by Gulf Province
is continuing its spread across the world, to a floating storage and offloading vessel investment entities. There is potential to achieve
Mitsubishi Shipbuilding successfully (FSO), the Dampier Spirit, which is moored to a power generation of up to 200MW over time
enabled to complete the installations as catenary anchor leg mooring buoy. as discovered and new gas fields are aggregated
scheduled through remote commissioning In May 2020, the owner of the Dampier through the Pasca A infrastructure. Twinza and
conducted via close communication and Spirit advised the Company of its intention to the Gulf Province have a shared vision that Pasca
cooperation with the engineers of its retire the Dampier Spirit later in 2020, and, as can become an infrastructure ‘hub’, whereby
local partners in China and Singapore required under the terms of their agreement existing discoveries utilise spare capacity to
respectively. with Jadestone, they have been unable to provide lower development costs. It can be expected that
The line-up of DIA-SOx consists of the R a suitable replacement vessel. As a consequence, progress on Pasca A will spur new exploration
Series and C Series. The rectangular tower the Company has developed a new operating activity in offshore waters.
design of the R Series is the most suitable strategy, utilising offtake tankers to directly TWINZA, September 4, 2020
for container ships and its multi-stream offload Stag crude oil, in place of the existing
configuration can simultaneously with 1 tower long term leased FSO. Woodside updates on
treat exhaust gas discharged from multiple To implement this strategy Jadestone has
engines, including the large main engine. awarded a contract to a respected international Sangomar transaction
Moreover, its simplified configuration helps the tanker provider who will supply modern double
ship crews to conduct the maintenance work hulled tankers, operated to the highest safety and Woodside Energy (Senegal) has entered into
easier. The C Series with cylindrical tower design environmental standards. a binding sale and purchase agreement to
also utilizes the multi-stream configuration, This new operating model has significant acquire Capricorn Senegal Limited’s entire
offering high flexibility that can be easily environmental risk mitigants over the existing participating interest in the Rufisque Offshore,
installed onboard various types of the ships. model, by eliminating the need for ship to ship Sangomar Offshore and Sangomar Deep
MITSUBISHI HEAVY INDUSTRIES, September oil transfers in field. Offshore (RSSD) joint venture. This follows
4, 2020 These arrangements are expected to realise Woodside’s exercise of its pre-emptive rights
annual savings of approximately 20% over the announced on 17 August 2020.
current FSO operation. The first offtake tanker is Completion of the acquisition is subject to
OCEANIA scheduled to arrive in the field coincident with the Government of Senegal approval, Cairn Energy
Dampier Spirit departure in mid September 2020. PLC shareholder approval and other customary
Jadestone announces new through the field on a schedule that optimises conditions precedent, and is targeted for Q4
Ultimately multiple offtake tankers will rotate
2020.
Stag offtake arrangements production continuity. The new model has also interest will increase to approximately 68.33% in
Following completion, Woodside’s equity
required a change to the regulatory structure
Jadestone Energy, an independent oil and that was in place for the FSO. the Sangomar exploitation area and to 75% for
gas production company focused on the Jadestone has worked with Australian the remaining RSSD evaluation area. Woodside
Asia Pacific region, announces new offtake regulators, the National Offshore Petroleum will remain operator.
arrangements for its Stag oilfield. Safety and Environmental Management WOODSIDE ENERGY, September 4, 2020

P20 www. NEWSBASE .com Week 36 10•September•2020