Page 21 - AsianOil Week 01 2021

AsianOil NEWS IN BRIEF AsianOil

worth approximately USD 2 billion include
upstream development projects, a 600-MW
combined cycle power plant located in Kyaiklat
in Ayeyarwady Region, and new offshore and
onshore gas pipeline route from Kanbauk –
Daw Nyein – Kyaiklat for approximately 370
kilometers, and Transmission line from Kyaiklat
to Hlaingtharyar. PTTEP targets to make a Final
Investment Decision (FID) in early 2022.
The electricity generation from this project
is expected to account for approximately 10%
of Myanmar’s existing installed power plant
capacity. The generated power will be sold to the
Electric Power Generation Enterprise (“EPGE”),
a state-owned enterprise under MOEE, over a
20-year term with 5-year extension from the
Commercial Operation Date (COD).
MISC takes delivery of VLEC dual cargo loading, Seri Erlang is also delivered PTTEP, December 30, 2020
with LNG Ready notation by ABS where the
Seri Erlang VLEC can be upgraded to trade liquefied natural OCEANIA
gas (LNG) cargoes in the future.
MISC Berhad (MISC) has taken delivery of MISC, January 7, 2020
Seri Erlang, its second Very Large Ethane Armour sells South
Carrier (VLEC) at the Samsung Heavy PTTEP receives an exclusive
Industries (SHI) shipyard in Geoje, South Nicholson Basin permit
Korea. Purchased by MISC in July 2020, this right to develop the
VLEC is the second of the six contracted interests to Santos
VLECs, purpose-built for long-term charter integrated domestic gas to
to Zhejiang Satellite Petrochemical Co. Ltd. The Directors of Armour Energy
(STL). power project in Myanmar Limited refer to the Company’s previous
Seri Erlang will join her sister vessel - Seri announcement of 22 December 2020 are
Everest to safely transport ethane from U.S PTT Exploration and Production Public pleased to announce the execution of a sale
to China to support STL’s ethane cracker Company Limited (PTTEP) will move and purchase agreement (SPA) for a further
facility in China. Both VLECs are managed forward the Integrated Domestic Gas to sale of the Company’s remaining 30% interest
by MISC’s shipmanagement arm, Eaglestar Power Project in Myanmar after receiving in a portion of the South Nicholson Basin
Shipmanagement Gas (S) Pte. Ltd. an exclusive development right from the Exploration Project to Santos QNT Pty Ltd
Mr. Yee Yang Chien, President and Group Myanmar government. This integrated energy (Santos), a wholly-owned subsidiary of Santos
Chief Executive Officer of MISC said, “We are project aims to provide energy security to Ltd (ASX: STO). The South Nicholson Basin
pleased indeed to make a brilliant start at the Myanmar as well as to lead the company to Exploration Project area covers approximately
very beginning of 2021 with the safe delivery explore the new business as targeted. 40,751 km2.
of Seri Erlang. My sincere appreciation for the Mr. Phongsthorn Thavisin, Chief Executive Under the SPA, Santos will acquire 100%
commitment and seamless collaboration of all Officer of PTTEP, said the company today ownership of ATP 1087 (of which Santos
parties involved in the delivery of MISC’s second signed Notice to Proceed for the development currently holds a 70% interest and is operator)
VLEC. This shared success is premised on our of Integrated Gas to Power Project with U Than and the application permit areas in Queensland
strategy to support the expanding ethane market Zaw, Permanent Secretary of the Ministry of ATP(A) 1192 and 1193 and the Northern
requirements. We look forward to the delivery Electricity and Energy (MOEE). This project Territory tenements EP(A) 172 and 177. As
of the remaining four (4) VLECs as we progress will promote the utilization of domestic gas consideration, Armour has received an initial
into 2021. Commencing the year on strong supplied from PTTEP’s gas fields in the Gulf of payment of $3 million upon execution of the
tailwinds, we remain positive for favourable Moattama, starting from Zawtika and Myanmar term sheet, with a further $9.25 million in cash
developments in the industry and more M3 projects, to generate affordable electricity for to be received upon completion of customary
opportunities in Asia, which has now become a Myanmar. conditions precedent and will re-acquire full
vital demand centre for the ethane market.” “Today marks our first step in extending ownership and operatorship of ATP(A) 1107.
With more than 98,000 cbm of total cargo our business along the gas value chain in ATP(A) 1107 covers 7,906 km2 of the South
capacity, Seri Erlang is equipped with a highly Myanmar, following the “Execute & Expand” Nicholson Basin Exploration Project. Armour’s
efficient reliquefaction unit and a unique strategy which will drive the company towards net acreage position in the South Nicholson
high-pressure ethane fuel supply system. sustainable growth. This project will also support Basin Exploration Project will reduce by only
The newbuild is powered by a MAN B&W the Myanmar’s Sustainable Development Plan approximately 35% from 12,225 km2 (30% of
7G60ME-C9.5-GIE Gas Injection Ethane (MSDP) and its Energy Master Plan, which aims 40,751 km2) to 7,906 km2 as a result of this
engine, complemented with the latest Pump for all households to have access to electricity by transaction, whilst also receiving $12.25m in
Vaporiser Unit (PVU), making her one of 2030,” said PTTEP CEO. cash proceeds.
the very few vessels in the world with ethane PTTEP’s Integrated Domestic Gas to Power Completion of the sale of the South
burning capability. Project is a combined energy projects from Nicholson Basin Exploration Interests to Santos
Built with a cargo containment system for upstream to power generation. The investment is expected by 31 January 2021. With the

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