Page 13 - AsianOil Week 44 2021

AsianOil NEWS IN BRIEF AsianOil

reform and innovation, and ESG control in For the third quarter of 2021, the Company The 10 areas to be potentially included in the
the first three quarters of 2021, grasping the made nine new discoveries and successfully 2022 offshore petroleum exploration acreage
favorable opportunities arising from China’s appraised 13 oil and gas structures. In offshore release are located offshore from Western Australia,
rapid economic recovery, the rebound of China, a large-sized commercial discovery was Victoria, the Territory of Ashmore and Cartier
the oil and gas market demand and the rise made in the Kenli 10-2 structure with 100 million Islands, and the Northern Territory.
in international oil prices. The oil and gas tons oil and gas proved in-place volume. A proved Minister Pitt said consultation will inform a
industry chains maintained stable, and the in-place volume of over 10 million tons was made decision to release an area for bidding. Submissions
development quality and efficiency were in the Bozhong 28-1 structure. Baodao 21-1 will also assist potential explorers understand
greatly enhanced. All segments continued structure was appraised with a positive progress. factors they may need to consider when applying
to improve their quality and efficiency, and In overseas, three new discoveries were made in for an area or when planning exploration.
remained profitable. the Stabroek block in Guyana, namely Whiptail, “Offshore petroleum acreage release remains
In the first three quarters of 2021, according Pinktail and Turbot-2. a key mechanism to attract investment in our
to IFRS, the Company achieved a revenue of In terms of development and production, six petroleum industry,” Minister Pitt said.
RMB1,880.34 billion, representing an increase of new projects commenced production in the third Submissions can be made via the Consultation
31.8% year-on-year. The net profit attributable to quarter, which are Luda 29-1 oilfield, Liuhua 21-2 Hub until 14 December 2021. To keep up to date
owners of the Company amounted to RMB75.13 oilfield, Luda 6-2 oilfield, Bozhong 26-3 oilfield with the latest information on the acreage release,
billion, representing an increase of 646.3% year-on- expansion project, Qinhuangdao/Caofeidian please subscribe to the Australian Petroleum News
year and a two-year average growth rate of 42%. onshore power project and Bozhong 19-4 oilfield (APN) newsletter published by the Department of
The substantial growth in free cash flows enabled adjustment project. Industry, Science, Energy and Resources.
the Company to maintain a sound financial The unaudited oil and gas sales revenue of AUSTRALIAN MINISTRY FOR RESOURCES AND
position and its leading position in the industry. the Company reached approximately RMB58.03 WATER, November 4, 2021
PetroChina Company Limited is a joint stock billion for the third quarter of 2021, representing
limited company incorporated on November 5, an increase of 63.3% YoY, mainly due to combined Consortium to investigate
1999, upon the restructuring of China National effects of the increase in international oil and gas
Petroleum Corporation (CNPC). prices, and the increased oil and gas sales volume. delivery of low-cost
PETROCHINA, October 29, 2021 CNOOC LTD, October 28, 2021
CNOOC post Q3 results OCEANIA hydrogen
Leading Australian energy infrastructure
The board of directors of CNOOC Limited business APA Group will investigate
hereby announces certain selected unaudited Consultation opens for opportunities in Western Australia to
key operational statistics of the Company and commercialise and deliver low-cost hydrogen
its subsidiaries for the third quarter of 2021 Australia’s offshore as part of a newly established consortium with
(ended 30 September 2021). The comparative Pilot Energy and Warrego Energy Limited.
statistics of the Group for the third quarter petroleum exploration The consortium’s Mid West Blue Hydrogen and
of 2020 (ended 30 September 2020) are also carbon capture and storage (CCS) feasibility study
disclosed in this announcement. Public consultation is now open on 10 will look at blue hydrogen technology, locations for
The Company achieved a total net production potential areas to be released for offshore production, and opportunities to commercialise
of 144.1 million barrels of oil equivalent (“BOE”) petroleum exploration. and distribute low-cost blue hydrogen, while
for the third quarter of 2021, representing an Minister for Resources and Water Keith Pitt said assessing the potential use of the Cliff Head oil
increase of 9.9% year over year (“YoY”). Production ongoing petroleum exploration is critical to ensure project and other reservoirs across the broader
from China increased by 13.0% YoY to 100.1 Australians have access to reliable and affordable Perth Basin to store the carbon dioxide.
million BOE, mainly attributable to production energy. APA Group Executive Infrastructure
growth from the commencement of new projects “The oil and gas sector will play a pivotal role Development Kevin Lester said the feasibility
including Caofeidian 6-4 oilfield, Luda 21-2 in our domestic energy needs as well as being a study would focus on technology, regional carbon
oilfield and the production growth from onshore key export industry generating billions of dollars capture and storage potential and explore customer
unconventional gas fields. Overseas production in investment and providing thousands of jobs,” requirements to deliver low-cost hydrogen.
increased by 3.2% YoY to 43.9 million BOE. Minister Pitt said. APA GROUP, November 4, 2021

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