Page 12 - Oil&Gas-AustralAsia-2015-Issue-4
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C AMBODIA

KrisEnergy could revitalise Cambodia

By Marie RYAN

Kris Energy’s purchase of Chevron’s for the Apsara oil discovery in Block A “The original contract that both parties
entire stake in the Gulf of Thailand with in 2010. signed in 2002 [was] based on regulato-
Block-A has the potential to boost the “It was updated in 2012 as there was ry documents from 1991, which states
local petroleum industry after the US disagreement over taxation,” Mr Sakt- that oil companies should pay just 25
major exits analysts have speculated. heara in February. per cent tax on earnings. But that regu-
The Singaporean player announced in “The government has not yet responded lation was changed in 1997, requiring a
August that it had acquired a 30 per to the application from Chevron due to 30 per cent corporate tax, which Chev-
cent participating interest in and opera- the issue of taxation. We want to make ron rejected upon review,” The Cambo-
torship of Block A for $65 million from sure that all Cambodian people benefit dia Daily reported in August.
a Chevron subsidiary. from this development,” he said. Upon receipt of governmental approval
The company’s shareholders include While Chevron has so far not comment for the acquisition of Chevron Cam-
US energy-focused private equity and on why it disposed of its interest in bodia, which has been accepted by
infrastructure investment firm First Block A, especially after more than a partners MOECO Cambodia and GS
Reserve Corporation and conglomerate decade of exploration and development Energy Corporation the Block A joint
Keppel Corporation. work, the talks with the Cambodian venture will consist of KrisEnergy as the
Cambodia’s Ministry of Mines and En- authorities could have been stalled by operator with 52.25 per cent interest,
ergy Secretary of State Meng Saktheara regulatory changes governing the local MOECO Cambodia Company with a
said development of the offshore project petroleum sector. 28.5 per cent interest, GS Energy who
was delayed despite Chevron filing a will hold a 14.25 per cent interest and
production permit application (PPA) MME (which has taken over CNPA)
with 5 per cent. §

Wood Group wins
Ca Rong Do work ByMarieRYAN

Wood Group has been awarded the WGK Asia Pacific offices. particularly in riser and subsea
front end engineering and design This follows the award of the top specialties.
(FEED) contract for the subsea de- tensioned riser (TTR) FEED contract “We are leveraging our global network of
velopment of the Talisman Energy for design of the dry tree production/ engineers to deliver the most effective
Ca Rong Do field offshore Vietnam; injection and drilling riser systems. The solutions for the Ca Rong Do develop-
estimated to contain around 67 million WGK Houston office, a centre of excel- ment,” Mr MacDonald said.
barrels of oil equivalent. lence for dry tree riser system engi- “These contracts also continue Wood
Wood Group Kenny (WGK) will carry neering, will carry out the engineering Group’s strong relationship with Talis-
out comprehensive flow assurance for the tension leg wellhead platform man Energy which spans continents;
studies and full FEED engineering of (TLWP) supported riser systems. from this key greenfield project in Viet-
the subsea system and structures, risers, Chief Executive of Wood Group Kenny nam, to operations and maintenance on
flowlines, and power and control um- Bob MacDonald said winning both of UK North Sea assets.” §
bilicals. The work on the subsea FEED these contracts underlines our position
will be carried out from WGK’s Kuala as the international experts in FEED,
Lumpur office and supported by other

A A10 OIL & GAS ustral SIA SEPTEMBER/OCTOBER 2015 www.oilandgasaustralasia.com
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