Page 16 - FSUOGM Week 17 2021

FSUOGM NEWSBASE ROUNDUP GLOBAL (NRG) FSUOGM

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global Energy, under an agreement reached in
(NRG), in which the reader is invited to join December. SpotOn was to obtain at least
our team of international editors, who provide a $166mn of funding for an early develop-
snapshot of some of the key issues affecting their ment project at the field in return for its
regional beats. We hope you will like NRG's new stake, while Schlumberger, Aker Solutions,
concise format, but by clicking on the headline AGR, Maersk Drilling, Keppel FELS and
link for each section the full text will be available Aibe agreed to forgo some payment for
as before. project services in exchange for a share of
future revenues..
AfrOil: Total Declares Force Majeure On
Mozambique LNG GLNG: Philippines approves LNG-to-power
France’s Total has issued a declaration of force project
majeure on the Mozambique LNG project, cit- The government of the Philippines has approved
ing unfavourable security conditions in Cabo Vires Energy’s proposed LNG-to-power project.
Delgado, Mozambique’s northernmost province. The Philippine Department of Energy (DoE)
In a statement published earlier this week, issued a “notice to proceed” (NTP) on April 22,
the company confirmed that it had withdrawn which it said is the first step for a company seek-
all project personnel from the construction site ing to build an LNG terminal or other down-
where it is building an onshore complex and stream gas project.
LNG plant.
LatAmOil: YPFB To See Revenues Rise This
AsianOil: Eni Starts Up Indonesian Deep- Year
water Gas Field Wilson Zelaya, the CEO of Bolivia’s national
Italian major Eni has started producing natural oil company (NOC) YPFB, has said that con-
gas from its deepwater Merakes project in the ditions are improving in his country’s hydro-
East Sepinggan block offshore Indonesia. carbon sector.
The company said on April 26 that the pro- Speaking during the 2021 Initial Public
ject had a guaranteed production capacity of Accountability Hearing last week, Zelaya
450mn cubic feet (12.74mn cubic metres) per reported that YPFB was on track to see crude
day thanks to its five subsea wells. oil and natural gas revenues rise above $1.9bn
East Sepinggan is located in East Kalim- this year, up by 35% on the 2020 figure. He
antan’s Kutei Basin in around 1,500 metres of also said that the NOC had tasked KBR (US)
water. Eni operates the block with a 65% stake, and Toyo Engineering (Japan) with repairing
while Neptune Energy owns 20% and Pertam- the damage that its Ammonia and Urea Plant
ina holds the remaining 15%. (PAU) suffered last year.

DMEA: NNPC’s Woes And Durban’s Termi-
nal Plan MEOG: Aramco Assets And Iraqi Talks
In Nigeria this week, NNPC released data show- With Saudi Aramco having completed its
ing that its refineries have been shut in for 19 $12.4bn oil pipeline lease deal, reports have
consecutive months, while South Africa’s old- emerged that it will look to replicate the strat-
est refinery is to be converted into a fuel import egy on other assets, while in Iraq, the Ministry of
terminal. Oil (MoO) is racing to complete a deal to replace
During the period of July 2019 until January ExxonMobil in the West Qurna-1 consortium
2021, Nigeria’s four state-owned facilities – two while trying to reach a contractual agreement
at Port Harcourt, one at Warri and one at Kaduna with Total on its mega deal.
– have had a utilisation rate of 0%, costing NNPC
more than $460mn.
NorthAmOil: Schlumberger Predicts Quick-
Euroil: Third Barryroe Farm-Out Falls er Recovery Than Before
Through Oilfield services giant Schlumberger has revised
Irish juniors Providence Resources and Lans- its projections for the pace of the oil and gas
downe Oil & Gas have said they will proceed industry’s recovery.
with the development of Ireland’s largest oil Schlumberger’s CEO, Olivier Le Peuch, said See the archive and
discovery on their own, after reporting that on the company’s earnings call last week that oil sign up to receive
their third farm-out deal had collapsed. demand would reach pre-pandemic levels by the *NRG Editor’s Picks*
The pair had hoped to farm out a 50% end of 2022. This would mark a quicker recovery for free by email each
interest in the Barryroe oil and gas field than the one he projected during Schlumberger’s week here
in the Atlantic Ocean to Norway’s SpotOn previous earnings release three months ago.™

P16 www. NEWSBASE .com Week 17 28•April•2021