Page 14 - AsianOil Week 11 2022

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SOUTHEAST ASIA of energy to Indonesia,” he added. lower contributions from the Engineering &
Petronas is also the operator for the Construction (E&C) segment.
Petronas wins North Ketapang Production Sharing Contract Anuar Taib described FY 2022 as one of the
Sapura Energy group chief executive Datuk
(PSC) and North Madura II PSC offshore
Ketapang block in East Java and is a joint venture partner in most challenging years in the group’s history,
as it faced an unprecedented liquidity crunch.
six PSCs located both onshore and offshore
Indonesia Petroleum Bid Sumatra, Natuna Sea, East Java, as well as East culmination of many factors, including
“Our current financial constraint is a
Indonesia.
Round 2021 PETRONAS, March 18, 2022 contracts accepted on onerous terms and
operational issues exacerbated by COVID-19
PC Ketapang II, a subsidiary of Petronas, Sapura Energy announces pandemic. These have resulted in significant
has won the North Ketapang block, located losses in many projects, impacting our
onshore and offshore East Java, during the unaudited preliminary financial position. Almost all of the project
second round of the Indonesia Petroleum Bid losses were from legacy contracts.” said Datuk
Round 2021. financial results for Anuar.
The result was announced by the Ministry “The group’s liquidity challenges were
of Energy and Mineral Resources, Indonesia financial year 2022 also due to an unsustainable debt level and
today. high overdue payables to our vendors, and
Following this successful bid, Petronas Sapura Energy today announced its unaudited these challenges became more acute with our
will operate and hold a 100% equity in the preliminary full year results for the financial working capital facilities suspended since
3,131.8-square km block with water depths of year ended January 31, 2022 (FY2022), October 2021,” Datuk Anuar remarked.
up to 100 metres below sea-level. posting a loss after taxation and minority SAPURA ENERGY, March 18, 2022
Petronas executive vice president and chief interests (LATAMI) of MYR8.9bn. The group
executive officer of upstream, Adif Zulkifli recorded an operating loss of MYR2.2bn on
said: “Petronas wishes to congratulate the the back of MYR 4.1bn revenue. EAST ASIA
government of Indonesia on a successful bid Following a review of its contract
round. We are delighted with the outcome of performance, businesses and assets, the group GTT obtains tank design
the bid round as the North Ketapang block recognised a hefty financial loss, including
is located to an adjacent block where an significant impairment charges. order for three new LNG
encouraging discovery was made last year.” The group recognised a MYR3.3bn
“With the support of the government of provision for impairment on goodwill on carriers from Hyundai
Indonesia, we will continue to strengthen our consolidation and a MYR2.3bn provision for
upstream ventures towards unlocking greater impairment on property, plant and equipment Heavy Industries
value that contributes to the development of in FY 2022.
Indonesia’s energy industry. As a progressive The group’s FY 2022 revenue of MYR4.1bn GTT announces that it has received an
energy and solutions partner, Petronas is was 22.8% lower than the MYR5.3bn recorded order from its partner the Korean shipyard
committed to deliver safe and reliable supply in financial year 2021 primarily due to Hyundai Heavy Industries for the tank

P14 www. NEWSBASE .com Week 11 18•March•2022