Page 18 - AsianOil Week 25

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engineering, procurement, fabrication, Extension of long stop date The objective of the commissioning is to
installation, hook- up, commissioning, achieve plant performance that satisfies the
operation and maintenance of the PWIM at under farm-out agreement commercial agreement between the parties,
Sepat platform. which includes demonstrated capacity to process
The duration of the Contract shall be effective for Vietnam Block 115/09 gas from Sole for reliable supply into the Eastern
from 22 April 2020 and will expire 30 months Gas Pipeline at a rate of 68 TJ/day.
after the first water injection at Sepat platform. KrisEnergy, an upstream oil and gas company, Commissioning of the plant’s raw gas
The value of the Contract is approximately refers to its announcement dated 14 February processing facilities commenced on 10 March
MYR27mn over the estimated 30-month 2020 in relation to the entry by its wholly- and has proven the plant’s capability to produce
contract period. owned subsidiary, KrisEnergy (Vietnam sales specification gas from the Sole raw gas
Potential risk factors include project 115), into a farm-out agreement with a major stream.
operational and execution risks, work schedules, international oil and gas company for the A total of 1.8 petajoules of gas from Sole has
delivery timelines and adverse weather transfer of its entire 100% working interest been processed and supplied into the Eastern
conditions. in the Block 115/09 production sharing Gas Pipeline up to 18 June 2020 (inclusive).
The contract will not have any effect contract, offshore Vietnam for a nominal cash This gas is being sold by Cooper Energy at spot
on the share capital and shareholding consideration. market prices less transportation.
structure of the company as it does not Further to the announcement, the company Plant performance during commissioning
involve the issuance of ordinary shares in wishes to announce that while parties are has been impaired by foaming in the absorber
the company. However, it is expected to actively working towards the fulfilment of section of the plant, which has suppressed
contribute positively towards the earnings conditions precedents under the farm-out output rates; and by fouling, which necessitated
and net assets per share of the company for agreement, the transferor and the transferee the 9-day shutdown advised on 8 May.
the financial year ending 30 June 2020 and have mutually agreed in writing to extend the Commissioning activities since 20 May
onwards until the expiry of the contract. long stop date to 30 September 2020, or such have been directed to achieving a progressive
UZMA, June 23, 2020 later date as may be agreed in writing between sustained increase in plant output rates with
parties. the ultimate target being the required 68 TJ/
MISC chairman resigns KRISENERGY, June 19, 2020 day. Output has averaged 34 TJ/day from 20 May,

MISC Berhad (MISC) announced today that with performance demonstrating the plant’s
Y.B. Tan Sri Noh Omar who was appointed as OCEANIA capability to maintain daily production of 35 TJ
Chairman of the Board of Directors on 1 June to 40 TJ. The maximum daily production rate
2020, has tendered his resignation, with effect Sole gas project update recorded to date has been 55 TJ on 9 June.
from 17 June 2020. APA has advised of a re-occurrence of
Tan Sri Noh Omar made the decision to Cooper Energy provides the following report fouling due to prolonged foaming in the second
tender his resignation upon discussion with the on the progress of commissioning activities absorber which will require a second shutdown
Honourable Prime Minister of Malaysia. at the Orbost Gas Processing Plant since for cleaning of the absorber vessel. APA has
Tan Sri Noh Omar wishes the MISC Board the previous advice of 22 May and investor advised a second antifoam dosing pump has
and its Management all the best in spearheading presentation of 10 June. been installed since the previous shutdown
the Company to greater heights. Likewise, the The gas plant is owned and operated by APA to improve performance. This shutdown is
Board of Directors of MISC wishes Tan Sri Noh Group, who are contracted by Cooper Energy scheduled to commence on the weekend of 20
Omar the very best in his future undertakings to upgrade and operate the plant to process gas – 21 June and require approximately 6 days to
and endeavours. from the Sole gas field for supply to Cooper complete.
MISC, June 18, 2020 Energy’s gas customers in south-east Australia. COOPER ENERGY, June 19, 2020

P18 www. NEWSBASE .com Week 25 25•June•2020