Page 14 - AsianOil Week 05 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTH ASIA (GRM) during the period April – December SOUTHEAST ASIA
2020 was US$ 2.96 per bbl as compared to
IndianOil Financial US$ 3.34 per bbl in corresponding period of Pertamina, Apexindo sign
previous financial year.
Performance 9M 2020-21 IndianOil’s product sales volumes, including rig contracts
For the third quarter of FY 2020-21,
(Standalone) exports, was 23.033 million tonnes. The PT Pertamina Hulu Mahakam (PHM) as
refining throughput was 17.860 million tonnes the operator in the Mahakam Work Area
IndianOil reported Revenue from Operations and the throughput of the Corporation’s (WK), with the support of SKK Migas and PT
of Rs 3,51,285 crores for the period April – countrywide pipelines network was 21.806 Pertamina Hulu Indonesia (PHI), announced
December 2020 as compared to Rs 4,27,348 million tonnes during the same period.” the awarding of a Drilling Submersible Swamp
crores in corresponding period of Financial INDIANOIL, January 29, 2021 Barge Services (Swamp Rig) contract to PT
Year 2019-20. The Net Profit for the nine Apexindo Pratama Duta, Tbk.
months ended 31st December 2020 is higher OGDCL discovers gas The signing of the swamp rig procurement
at Rs 13,055 crores as compared to Rs 6,499 contract was carried out online in Jakarta, on
crores during the corresponding period condensate at Sial-l well February 4, 2021, by the Managing Director
mainly on account of higher inventory gain of PHI as the Managing Director of PHM,
and higher petrochemical margin during By the grace of Almighty Allah, Oil and Gas Chalid Said Salim, and the President Director
current period. Development Company Limited (OGDCL) of PT Apexindo Pratama Duta Tbk, Zainal
The Revenue from Operations of as operator (95%) and Government Holdings Abidinsyah Siregar. Also witnessing the
IndianOil is Rs 1,46,599 crores in Q3 2020- (Pvt) Limited (5%) has discovered gas & Head of the SKK Migas Goods and Services
21 as compared to Rs 1,44,835 crores in the condensate from its exploratory well Sial-1, Procurement Management Division, Erwin
corresponding quarter of FY 2019-20. The Net which is located in district Hyderabad, Sindh Suryadi, PHM General Manager, Agus
Profit for the third quarter of FY 2020-21 is Rs Province. Amperianto, along with PHI and PHM
4,917 crores as compared to Rs 2,339 crores The structure of Sial-1 was drilled and management ranks.
in the corresponding quarter of FY 2019-20 tested using OGDCL’s in house expertise. The PHM General Manager, Agus Amperianto,
which is due to higher inventory gain and well was drilled down to the depth of 2442 explained that Rig Yani will be brought to
higher petrochemical margin during current Meters. Based on logs data, well was tested at Mahakam CA to replace Rig Raisis in the
quarter. rate of 1.146 million standard cubic feet per second quarter of 2021, and will support
The Board of Directors of the Corporation day of gas and 680 barrels per day (BPD) of drilling operations in the Tambora, Tunu, and
in its meeting held on 29th January, 2021 has condensate through 32/64” choke at well head Handil fields. In this regard, Agus hopes that
declared an interim dividend of Rs 7.50 per flowing pressure of ~ 460 pound per square Apexindo will take an active role in proposing
equity share. (face value: Rs 10/- per equity inch (Psi) from lower Goru Formation. efficiency programs. “The development of
share). The discovery of Sial-1 is the result of various innovations for the optimization
IndianOil Chairman, Mr. S. M. Vaidya, aggressive exploration strategy adopted by the of operations will greatly support the
said, “IndianOil sold 58.436 million tonnes Company. It has opened a new avenue and Locomotive-8 program, for the continued
of products, including exports, during the would add to the hydrocarbon reserves base production and development of the Mahakam
period April – December 2020. Our refining of OGDCL, its joint venture partners and of CA,” he said. As is well known, through the
throughput for first nine months of FY the country. It will also contribute in reducing Locomotive-8 program (Low Operation Cost
2020-21 was 44.759 million tonnes and the the supply and demand gap of oil and gas of Mahakam to Achieve Effectiveness and
throughput of the Corporation’s countrywide in the country through the exploration and Efficiencies - 8), PHM launched an integrated
pipelines network was 54.170 million tonnes exploitation of indigenous resources. effort to optimize costs in all operating
during the year. The gross refining margin OGDCL, February 2, 2021 activities based on innovation and synergy,
PERTAMINA, February 4, 2021

Udenna names new
president

The Board of Directors of Udenna
Corporation announced the appointment
of Mr. Raymundo Martin Escalona as the
Group’s next president effective February 1,
2021.
Dennis A. Uy, Chairman and Chief
Executive Officer of Udenna said, “Marty
brings with him three decades of experience
in the field of corporate finance and
banking in the areas of treasury, investment
banking, and relationship management. He
will be instrumental in helping us harness
the strengths of each of our subsidiaries
by providing the necessary resources to

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