Page 6 - AsianOil Week 04 2022

AsianOil SOUTH ASIA AsianOil

L&T wins subsea pipeline

contract from ONGC

PROJECTS & L&T Hydrocarbon Engineering Limited Dhabi-based National Petroleum Construction
COMPANIES (LTHE), a subsidiary of Larsen & Toubro, said Co. (NPCC) is reported to have put in a bid of
on January 28 that it had secured a contract around $612mn, while a third bidding consor-
from state-owned Oil and Natural Gas Corp. tium, led by Iranian Offshore Engineering &
(ONGC). Construction, was reportedly disqualified from
The contract is for the seventh development the tender.
phase of ONGC’s Pipeline Replacement Projects The PRP-VII work will be carried out across
(PRP-VII). It covers the engineering, procure- ONGC’s Mumbai High, Neelam Heera and Bas-
ment, construction, installation and commis- sein and Satellite assets. The producer sees the
sioning (EPCIC) of roughly 350 km of subsea pipeline replacement projects as a key part of its
pipelines and related work across ONGC’s fields strategy to maintain the production profile of its
off India’s west coast. fields off India’s west coast.
L&T described the contract as “large”, which ONGC said in July 2021 that it was intend-
means its value is in the INR25-50bn ($333- ing to spend around $4bn on initiatives to
667bn) range. It did not specify the exact value of boost oil and gas production in the financial
the contact, but Upstream reported that it could year up to March 2022. Around 50% of the
be close to $500mn. planned spending is earmarked for major lump
The tender for the contract was initially sum turnkey (LSTK) projects, with the other
floated in 2020 but was subsequently delayed half allocated for major services and major
owing to the coronavirus (COVID-19) pan- material procurement.
demic and revived in late 2021. L&T is reported The company anticipates contributing 65% of
to have been the lower of two bidders for the con- India’s projected oil and gas output over the three
tract, with an offer worth around $503mn. Abu years from mid-2021.™

SOUTHEAST ASIA

KUFPEC unveils gas and condensate

discovery offshore Indonesia

PROJECTS & KUWAIT Foreign Petroleum Exploration Co. stem tests on the block so far, one in the Lower
COMPANIES (KUFPEC) announced on January 23 that it had Gabus formation and the other in the Intra Keras
made a commercial gas and condensate discov- formation. The tests resulted in a stabilised com-
ery offshore Indonesia. bined flow rate of 7mn cubic feet (198,240 cubic
The find was made by the company’s KUF- metres) per day of natural gas and 1,240 stock
PEC Indonesia subsidiary in the Anambas block tank barrels per day (bpd) of condensate from
in the Natuna Sea, near another block in which both formations.
KUFPEC is a partner. The Anambas-2X well The Lower Gabus formation was the Anam-
was drilled using a jack-up rig to a total depth bas-2X well’s main target. KUFPEC also said it
of 10,509 feet (3,203 metres), in 288 feet (88 intended to conduct more tests on other for-
metres) of water. mations within the same well, having identified
KUFPEC noted that the find marks its first further potential targets in deeper formations
operated offshore exploration discovery, adding through a well-deepening process.
that this demonstrates its growth and potential as Additionally, KUFPEC is planning to con-
an operator of offshore oil and gas projects in line tinue implementing testing programmes to
with its KUFPEC 2040 Strategy. The company target three reservoirs in the Arang Formation,
holds the entire 100% interest in the Anambas which it said could produce even higher gas
block, which it acquired through a competitive rates.
bidding process in 2019. Its production-sharing KUFPEC’s acting CEO, Shaikh Nawaf Saud
contract (PSC) for the block covers a licence Al-Sabah, described the deepening and testing
term of 30 years, including a six-year period for programme used in the Anambas-2X drilling
exploration. campaign as “one of best examples of KUFPEC’s
The company said it had conducted two drill determination to maximise asset value”.™

P6 www. NEWSBASE .com Week 04 28•January•2022