Page 14 - AsianOil Week 17 2021

AsianOil NEWS IN BRIEF AsianOil

SOUTHEAST ASIA Apart from domestic, overseas oil and gas identical vessels the lowest carbon emission
fields managed by Pertamina also contributed footprint in their class, further attesting to
Pertamina’s upstream to the achievement of Upstream Subholding. Petronas’ commitment to deliver cleaner
energy solutions in a responsible manner.
Oil production from overseas fields until
subholding over target March 2021 is 97 MBOPD or 106% of the delivered from the second quarter of 2024 on
The newbuild vessels are expected to be
YTD RKAP 2021 target. Meanwhile, gas
Subholding Upstream Pertamina managed to production is 291 MMCFD. a staggered basis and will primarily be used
record positive achievements in oil and gas Furthermore, from exploration activities to lift cargoes from LNG Canada, which will
production in the first quarter of 2021. The also continue seismic activities. Up to Q1, further contribute towards the competitive
total oil and gas production achievements of 2D seismic realization has reached 1,647 km and uninterrupted supply to Petronas’
Pertamina’s Subholding Upstream TW 1 of or 133% of the target, while 3D seismic has customers.
2021 reached 861 MBOEPD or 2% higher reached 198 km2. With these vessels, Petronas has grown its
than the target of TW1 RKAP in 2021 of 848 PERTAMINA, April 29, 2021 global LNG fleet from 24 to 27 covering small,
MBOEPD. medium and large sized vessels. The multi-
“This achievement is 147 MBOEPD from Petronas adds three sized fleet has enabled the company to reliably
the international field and 713 MBOEPD deliver LNG to over 25 countries from its
from domestic. We are grateful that for the newbuild LNG vessels global portfolio of supply located in Malaysia,
first quarter of 2021, we are able to withstand Australia, Egypt and Canada by 2024. To
the decline in natural production in the Petronas LNG Ltd (PLL) has signed a time date, Petronas has delivered over 11,500 LNG
majority of our fields,” said Budiman Parhusip, charter party (TCP) for three newbuild cargoes across the world.
CEO of Subholding Upstream Pertamina. 174,000 cubic metres LNG vessels with PETRONAS, 29 April 2021
This achievement was obtained from all shipowner, Hyundai LNG Shipping (HLS).
oil and gas fields in the Upstream Subholding The deal with HLS was awarded via an KrisEnergy updates on
portfolio, both international and domestic, international tender exercise to support
such as PT Pertamina Hulu Energi, PT Petronas’ growing global LNG business Apsara oil field review
Pertamina EP, PT Pertamina EP Cepu, PT portfolio.
Pertamina Hulu Indonesia and PT Pertamina As part of the agreement, HLS had signed KrisEnergy, an independent upstream oil
Internasional EP as well as several other shipbuilding contracts with Hyundai Heavy and gas company, refers to its announcement
companies. Industries (HHI) for the construction of dated 31 March 2021 in relation to the
For domestic gas production, Pertamina’s the three vessels. Upon completion, these production performance of the KrisEnergy-
Subholding Upstream managed to reach vessels would be amongst the most energy operated Apsara oil development.
2,405 MMCFD or 104% of the TW1 RKAP efficient LNG carriers ever built, with shaft Further to the Announcement, the
production target of 2,318 MMCFD. As for generators powered by LNG. These vessels Company wishes to update that it has received
the distribution or lifting of gas, it is 1,914 are also installed with air lubrication systems the independent review of the Apsara field’s
MMCFD. that reduce hull resistance and are designed performance by third-party petroleum
“Domestic oil production also makes a with an optimised hull design that reduces engineering consultant, Netherland, Sewell &
significant contribution. As of March 2021, aerodynamic drag at sea. Associates, Inc. (NSAI).
domestic oil production will reach 298 The eco-friendly vessels will be fitted Based on performance data of the five
MBOPD with lifting reaching 290 MBOPD. with the Integrated Smart Ship Solution to wells since they were brought online on
We continue to strive to be able to meet the enhance the performance monitoring process. 23 February 2021, NSAI concluded that
targets that have been set, “added Budiman. Collectively, these features will give the estimated ultimate recovery from the five
development wells is likely to be a small
fraction of the pre-development estimates
primarily due to significantly lower volume of
hydrocarbon-in-place connected to the wells
and the geological complexity resulting in
smaller oil accumulations.
Additional contributing factors for the
underperformance include: Performance data
indicate that pressure depletion is the dominant
recovery mechanism with little to no evidence
of water support, resulting in a lower recovery
factor; and; Lower-than-anticipated well
productivity may be due to potential formation
damage in the oil-bearing zones.
While the company is evaluating whether
there are any reasonable remedial actions
to undertake in order to try and improve
production rates, such remedial action has
limited potential to increase well productivity
(if at all) and is not expected to materially
improve total oil recovery due to the fixed
configuration of the subsurface reservoirs.

P14 www. NEWSBASE .com Week 17 29•April•2021