Page 12 - AsianOil Week 50

AsianOil
NEWS IN BRIEF
AsianOil
SOUTH ASIA
Shearwater GeoServices
awarded Eastern Offshore
India campaign by ONGC
Shearwater GeoServices has been awarded
a combined 2D and 3D broadband marine seismic acquisition campaign by ONGC
in Eastern Offshore, India. The contract is planned for execution in the first half of 2020.
The survey covers 1,600 sq. km of 3D and 800 km of 2D data in a deepwater area of the Bay of Bengal.
“We are very pleased to return to work with ONGC in India for a fourth consecutive season” said Irene Waage Basili, the CEO of Shearwater GeoServices. “Our track record for seismic operations offshore India is unparalleled and we look forward to executing this season’s work and strengthening that position.”
SHEARWATER GEOSERVICES, December 17, 2019
IndianOil’s INDMAX refining
technology licenced to
Serbian company
Indian Oil Corporation’s (IndianOil) state-of- the-art INDMAX refining technology, with Lummus Technology Inc, USA, as the global licensing partner, has been selected through a global tender by M/s. Naftna Industrija Srbije (NIS) of Serbia for production of higher value products.
The first ever overseas agreement to
licence IndianOil’s INDMAX refinery process technology for high propylene production was signed between NIS and Lummus Technology Inc, USA, in the presence of Sanjiv Singh, Chairman, IndianOil, and SSV Ramakumar, Director (R&D), at Belgrade, Serbia, this Tuesday. This breakthrough has opened up new vistas for expanding the global footprint of the Make in India product.
NIS is one of the largest vertically integrated oil & gas companies in Southeast Europe, with the Russian oil & gas conglomerate, Gazprom Neft (GPN), as its major shareholder.
The selection of INDMAX technology was preceded by a rigorous due-diligence process involving demonstration of the credentials of the novel FCC (fluidised catalytic cracking) technology that is successfully operating at the 4.17 million tonnes per annum INDMAX unit at IndianOil’s Paradip Refinery since Dec. 2015.
IndianOil’s R&D Centre developed INDMAX in-house to enhance refinery profit margins by achieving high yields of LPG, light olefins and high-octane gasoline from residual petroleum hydrocarbon streams
and fractions. The efficacy of the technology was first demonstrated by setting up a 100,000 tonnes per annum unit at IndianOil’s Guwahati Refinery in the year 2003. This
was followed by the mega INDMAX unit
at Paradip Refinery in 2015, which placed IndianOil in the league of world-class refinery process licensors. A third INDMAX unit
of 0.74 million tonnes per annum is under commissioning at IndianOil’s Bongaigaon Refinery.
INDIANOIL, December 18, 2019
SOUTHEAST ASIA
HL Acquisitions to acquire Singapore’s Chi Energie
HL Acquisitions, a NASDAQ listed company formed for the purposes of entering into a business combination with a focus on the hydrocarbon logistics industry, announced today that it has entered into a definitive agreement to acquire 100% of the equity interests of Chi Energie (Singapore) from Sila Energy Holding.
Chi, through a local JV partnership, is developing a modular LNG business to supply the remote power, oil field service and transportation sectors in Oman. Following
the consummation of the transaction, Chi will become a wholly owned subsidiary
of HL, with Chi’s Founder and CEO, Ajay Khandelwal, who is also a director of HL, becoming HL’s CEO.
Pursuant to the agreement, Chi’s owners will receive 775,000 HL ordinary shares, 3,000,000 newly issued HL Class I warrants with an exercise price of $10.33 and 4,000,000 newly issued HL Class II warrants with an exercise price of $15-both warrant classes will have a three year life.
HL’s Founders have agreed to forfeit 200,000 ordinary shares of HL in exchange for the issuance of 600,000 Class I Warrants. HL’s Founders will also agree to forfeit an aggregate of up to 579,364 ordinary shares of HL, with the number of shares to be forfeited to be determined based on the amount of cash remaining in HL’s trust account at the close. If no HL shareholders elect to redeem their shares for a pro rata portion of HL’s trust account, at the close Chi’s owners will hold approximately 9% of HL’s issued and outstanding shares.
HL ACQUISITIONS, December 17, 2019
Shearwater GeoServices awarded hybrid node- streamer seismic survey in Malaysia
Shearwater GeoServices is pleased to announce the award of hybrid node and towed streamer seismic survey by Repsol
Oil & Gas Malaysia Limited. The survey is scheduled for Q1 2020 and is expected to take 2 months to complete.
The project covers approximately 1,000 sq. km of ocean bottom and towed streamer seismic on Repsol’s operated block offshore Peninsular Malaysia. The Multi-Purpose Vessel (MPV) SW Vespucci will acquire the seismic using Flexisource triple source in combination with Qmarine towed streamer and ocean bottom nodes.
“By combining ocean bottom and towed streamer seismic using an MPV we offer our customer an innovative and efficient hybrid solution for acquisition of high-quality seismic data at a field which already has numerous oil installations,” said Irene Waage Basili, the CEO of Shearwater.
“This is the second contract awarded to us in recent weeks in Southeast Asia and confirms our position in the region and the value we offer to our clients. Our strategy, to have a fleet with flexibility and critical mass, enables back-to-back operations for SW Vespucci in the region, maximizing vessel
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Week 50 19•December•2019