https://www.oedigital.com/news/481221-c ... m-complete
Construction of KrisEnergy's minimum facilities wellhead platform for the Apsara oil development offshore Cambodia has been completed and the platform has sailed away to its offshore location.
KrisEnergy said the topsides and the jacket of the "mini-platform" were being transported to Cambodian waters in the Block A in the Gulf of Thailand for installation.
Fabrication of the Mini-Platform for Cambodia’s maiden oil field development began in early December 2019 at NOV’s PT Profab1 facility on Batam Island, Indonesia. Loadout and sail away of the structures were completed on Tuesday, August 25, 2020.
Kelvin Tang, KrisEnergy’s Chief Executive Officer and President of KrisEnergy’s Cambodian operations, said: "From first steel cutting to sail away has been nine months and this landmark is made all the more remarkable given the difficulties and restrictions our project team and our NOV Profab colleagues have faced since early 2020 as a result of the coronavirus pandemic."
"Thanks to the enormous efforts of all parties involved, including suppliers and contractors who have overcome logistical hurdles to keep deliveries of equipment and materials on track to the Batam facility from across the globe, we continue to advance towards our target of first Apsara oil before the end of the year.”
Kim Lamb, NOV Profab’s Managing Director said: “It was great to play an integral part of such a groundbreaking project for Cambodia. Both the NOV and the KrisEnergy project teams worked closely together, adopting a fully integrated team approach to deliver a quality platform which is a true testimony of the dedication of all involved. We look forward to working with KrisEnergy again in the future.”
The Apsara field in Cambodia Block A lies over the Khmer Basin, an unproduced geological basin in Cambodian maritime waters of the Gulf of Thailand.
Due to the unproven production performance of the basin, KrisEnergy has opted for a phased development to mitigate risk and provide time for the collection and analysis of critical data to be applied in future phases.
The Mini Phase 1A development comprises the Mini-Platform and five initial development wells connected to the Ingenium II production barge for oil, gas, and water processing.
The company recently said that the Ingenium II production barge was being upgraded and refurbished, and nearing mechanical completion.
Installation of heating, ventilation, and air conditioning system was completed in July 2020 and the power generation system is running, KrisEnergy said earlier this month.
"The vessel will shortly go into one month of commissioning required for safety systems, fire and gas systems, process control systems, electrical
power distribution systems, as well as accommodation and mooring systems," Kris Energy said.
The Mini Phase 1A Apsara development is expected to reach a peak rate of 7,500 barrels of oil per day.
Construction of Cambodia's Maiden Offshore Oil Platform Complete
- Bong Burgundy
- Where Did All the People Go?
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- Location: K440 Channel 4 News
Construction of Cambodia's Maiden Offshore Oil Platform Complete
Bringing the news. You stay classy, nas, Cambodia.
- Hairy-nosed Otter
- Expat in exile
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Yes, after nearly 20 years since first discovery Block A will finally produce some oil.
But all is not what it seems to be.
This is a farce.
I don't know where to start..
Basics
-The price of oil is almost certainly below the cost of production.
- Chevron dumped it when the price of oil was at a price it will never be again after spending hundreds of mill.
-KrisEnergy is US$600 mill in debt and being kept alive by it's biggest creditor and now biggest shareholder in an attempt to recover some of it's dough
- The Gov has made it clear they will lose the concession if production does not commence by 31 Dec this year
- This current operation is the very barest minimum required to make that deadline
- The whole production set up is a dinky toy compared to even a small production operation
- It is just for show, Not real production at all just "developmental" wells to further test the field
- The drilling rig has been hired from a Vietnamese for 4-6 months at $60,000 per day.
Don't expect that bleeding to continue for long because no way the total operating cost will pay for itself at current prices.
BUT there will be HUGE headlines soon, announcing that Cambodia is now an oil producing nation and great riches will flow.
Complete and utter BS
I don't believe this field will ever go into real production.
(all ^^^ IMO only
after reading hundreds of company reports, oil industry reports, Singapore Stock exchange reports, court reports, etc. for nearly 20 years.
Stuff that you never see printed in Cambodia where they only print KrisEnergy PR releases)
But all is not what it seems to be.
This is a farce.
I don't know where to start..
Basics
-The price of oil is almost certainly below the cost of production.
- Chevron dumped it when the price of oil was at a price it will never be again after spending hundreds of mill.
-KrisEnergy is US$600 mill in debt and being kept alive by it's biggest creditor and now biggest shareholder in an attempt to recover some of it's dough
- The Gov has made it clear they will lose the concession if production does not commence by 31 Dec this year
- This current operation is the very barest minimum required to make that deadline
- The whole production set up is a dinky toy compared to even a small production operation
- It is just for show, Not real production at all just "developmental" wells to further test the field
- The drilling rig has been hired from a Vietnamese for 4-6 months at $60,000 per day.
Don't expect that bleeding to continue for long because no way the total operating cost will pay for itself at current prices.
BUT there will be HUGE headlines soon, announcing that Cambodia is now an oil producing nation and great riches will flow.
Complete and utter BS
I don't believe this field will ever go into real production.
(all ^^^ IMO only
after reading hundreds of company reports, oil industry reports, Singapore Stock exchange reports, court reports, etc. for nearly 20 years.
Stuff that you never see printed in Cambodia where they only print KrisEnergy PR releases)
...then he smiled again, and slipped away, further on up the stream
- Felgerkarb
- Sir Felgerkarb, Kt Pb
- Reactions: 240
- Posts: 9140
- Joined: Mon Jun 18, 2007 3:22 am
- Location: Castle Felgerkarb, Felgerkarbia (Formerly Preah Vihear)
- Contact:
Agree 100%.Hairy-nosed Otter wrote: ↑Sat Oct 17, 2020 5:42 pmYes, after nearly 20 years since first discovery Block A will finally produce some oil.
But all is not what it seems to be.
This is a farce.
I don't know where to start..
Basics
-The price of oil is almost certainly below the cost of production.
- Chevron dumped it when the price of oil was at a price it will never be again after spending hundreds of mill.
-KrisEnergy is US$600 mill in debt and being kept alive by it's biggest creditor and now biggest shareholder in an attempt to recover some of it's dough
- The Gov has made it clear they will lose the concession if production does not commence by 31 Dec this year
- This current operation is the very barest minimum required to make that deadline
- The whole production set up is a dinky toy compared to even a small production operation
- It is just for show, Not real production at all just "developmental" wells to further test the field
- The drilling rig has been hired from a Vietnamese for 4-6 months at $60,000 per day.
Don't expect that bleeding to continue for long because no way the total operating cost will pay for itself at current prices.
BUT there will be HUGE headlines soon, announcing that Cambodia is now an oil producing nation and great riches will flow.
Complete and utter BS
I don't believe this field will ever go into real production.
(all ^^^ IMO only
after reading hundreds of company reports, oil industry reports, Singapore Stock exchange reports, court reports, etc. for nearly 20 years.
Stuff that you never see printed in Cambodia where they only print KrisEnergy PR releases)
====================
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
It's not going so good.
https://www.energyvoice.com/oilandgas/a ... backfires/KrisEnergy on verge of collapse as Cambodia bet backfires
Singapore-listed KrisEnergy – widely seen as a zombie company - is finally on the verge of collapse after production from its Apsara oilfield offshore Cambodia failed to meet expectations. Significantly, it should come as no surprise that the frontier basin disappointed.
The company, majority owned by Singapore conglomerate Keppel Corporation, reported last week that output at its offshore Block A concession in Cambodia was less than half of the originally expected rate.
KrisEnergy conceded that the news created “material uncertainty” over whether the company, weighed down by debts of more than $500 million, can complete its planned restructuring.
KrisEnergy had been betting on oil production from its Cambodia development, which started up in late December 2020, to provide cashflow to keep the company operating.
“Given the significantly lower estimated ultimate recovery and cashflow from the Apsara
Mini Phase 1A development, material uncertainty exists over the group’s ability to complete the restructuring exercise and to continue as a going concern,” KrisEnergy said in a statement.
The five-well platform, installed between December and February, was “less productive and continuous in nature” than had been forecast, the company said.
- chkai chgout
- I live above an internet cafe
- Reactions: 57
- Posts: 223
- Joined: Fri Feb 08, 2019 6:46 am
Presumably the loading will be via mooring buoy to a tanker.
Slow and expensive.
I don't recall any pipeline being built.
Slow and expensive.
I don't recall any pipeline being built.
- Felgerkarb
- Sir Felgerkarb, Kt Pb
- Reactions: 240
- Posts: 9140
- Joined: Mon Jun 18, 2007 3:22 am
- Location: Castle Felgerkarb, Felgerkarbia (Formerly Preah Vihear)
- Contact:
^Shocker.
====================
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
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