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NEWS IN BRIEF
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of a new facility. The project has a positive environmental, social and governance (ESG) impact as it would reduce approximately 70% in carbon emissions compared to a new build, and also circumvents the scrapping of an old unit.
The second contract is between Keppel Shipyard and MODEC Offshore Production Systems (Singapore) to support the completion of a floating production storage and offloading vessel (FPSO).
Keppel Shipyard’s scope of work is to complete the topsides integration work as well as supporting the pre-commissioning and commissioning activities for the FPSO. The vessel is expected to arrive at its Singapore yard in 4Q 2022.
When completed, the FPSO, which can process 100,000 barrels of oil per day and will be delivered to Woodside Energy (Senegal) (as operator of the Sangomar Field Development Phase 1). The FPSO will be moored in waters approximately 780 metres deep and will be located approximately 100 km south of Dakar, Senegal.
KEPPEL OFFSHORE & MARINE, August 01, 2022
PTTEP – Statement:
Leakage at the Zawtika’s
onshore pipeline
PTT Exploration and Production (PTTEP) has been informed by its subsidiary, PTTEP International (PTTEPI), Yangon Branch, that
in the morning of August 1, 2022, there was a leakage at the Zawtika’s onshore pipeline, resulted in the gas pressure drop. To ensure operational safety, PTTEPI has promptly isolated the gas pipeline and temporarily suspended gas delivery from the Zawtika Project to Thailand. The preliminary investigation found no trace of explosion or fire. Further investigation on the cause of the leakage is underway. PTTEPI is accelerating the pipeline repairment which is expected to complete in around two weeks. The company will further report should there is an update on the situation.
PTTEP, August 01, 2022
OCEANIA
Cooper Energy – Business update
Cooper Energy or company provides the following business update.
The company has completed the last
stage of the capital management initiatives announced on June 20, 2022. Last Friday, Cooper Energy signed a new A$420 million senior secured revolving facility agreement with a group of six domestic and international financial institutions. The facility is a flexible, group reservesbased style loan that will refinance the AUD158mn currently drawn under the company’s 2017 facility and
provide the financial flexibility to accelerate the organic projects. As a certified net zero upstream operator, Cooper Energy is pleased
to further diversify the banking group by welcoming an additional high calibre lender to the syndicate. The company continues to receive strong further interest from the bank market to partner with the company. Together with the receipt of the retail portion of the AUD244mn equity raise on 12 July 2022, this completes the capital initiatives announced on June 20, 2022. These capital initiatives, alongside the acquisition of OGPP, set Cooper Energy up for the next exciting growth phase.
Following completion of the acquisition of the Orbost Gas Processing Plant (“OGPP”) from APA Group announced on July 28, 2022, the integration and transition period has commenced. APA will operate the plant on Cooper Energy’s behalf under a transitional services agreement until the plant’s major hazard facilities licence is transferred to Cooper Energy. During this period, there
will be continuity of key people, systems and processes under Cooper Energy’s integration plan. A governance arrangement will also
be in place to manage the OGPP during this integration and transition phase. The OGPP average processing rate for July was 49.1 TJ/d, 8% higher than the average processing rate
for June of 45.4 TJ/d. The OGPP has been processing at a steady rate of 55 TJ/d to 58 TJ/d between absorber cleans.
The root cause analysis to understand why the OGPP polisher unit’s performance degraded is ongoing with plans for re- instatement underway. The indicative timing for the polishing unit to return to service is the end of August.
COOPER ENERGY, August 02, 2022
Week 31 05•August•2022
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