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Sentinel Midstream, Freepoint sign agreements on Texas GulfLink export terminal

first_img The Texas GulfLink will comprise an onshore oil storage terminal. (Credit: Pixabay/LEEROY Agency) Sentinel Midstream subsidiary Texas GulfLink and Freepoint Commodities have signed agreements for the Texas GulfLink’s deepwater crude oil export facility off the Texas Gulf Coast.Planned to be built off the coast of Freeport, Texas, the Texas GulfLink deepwater crude oil export facility will have capacity to fully load very large crude carrier (VLCC) vessels.Sentinel Midstream president and CEO Jeff Ballard said: “We are pleased with the additional level of commercial support that Freepoint’s involvement will provide to Texas GulfLink.“As the project continues to move forward with the deepwater crude oil license application process, Sentinel is excited that Freepoint has chosen to align with Texas GulfLink and will utilize their substantial global and commercial resources to create value for their customers.“Through their Asian market focus, Freepoint will lead efforts to meet the growing demand from Asian refineries for US produced crude oil.”The Texas GulfLink terminal can fully load VLCC vesselsThe Texas GulfLink project will comprise onshore oil storage terminal, which is connected to a manned offshore platform approximately 48.2km off the Gulf Coast, by a 42-inch pipeline.Oil from the platform will be transported to two Single Point Mooring buoys to supply two million barrels of crude oil with loading rates up to 85,000 barrels per hour onto VLCCs.Comprising around-the-clock monitoring, the offshore platform will provide shippers with a safe and reliable mooring operation for VLCCs and other crude carrier vessels, Sentinel said.The financing for the Texas GulfLink terminal will be provided by Cresta Fund Management.Freepoint CEO David Messer: “Freepoint recognizes the significant experience that the Texas GulfLink team has in deepwater port projects and the team’s ability to construct and operate to the highest standards.“The Texas GulfLink project will help meet the demands our customers have to reliably source US crude oil through a neutral infrastructure export option.”In June 2019, Sentinel Midstream submitted a license application to the US Maritime Administration (MARAD) for the Texas GulfLink export terminal. The Texas GulfLink deepwater crude oil export facility will have capacity to fully load very large crude carrier vesselslast_img read more

PTTEP, Petronas make gas discovery in offshore Malaysian block

first_img The Dokong-1 gas discovery has been made in the shallow waters of Baram Province. (Credit: PTT Exploration and Production Plc.) PTT Exploration and Production (PTTEP) and Petronas have made a sweet gas discovery in Block SK417, offshore Malaysia following the drilling of the Dokong-1 well.The Dokong-1 wildcat well was spudded last November to target gas in the sandstone reservoir. It was drilled to a total depth of 3,810m, where it had intersected a gas column of more than 80m.Dokong-1 is the first exploration well to be drilled in Block SK417, located in the shallow waters of Baram Province, nearly 90km off the coast of Sarawak.Petronas said that the gas discovery in the Middle to Late Miocene Cycle VI-VII reservoirs further confirms the potential of other prospects in Baram Province.PTTEP CEO Phongsthorn Thavisin said: “The finding of potential high-quality gas at Dokong-1 exploration well is PTTEP’s latest achievement in Malaysia following first gas production from Block H and a major gas discovery at SK410B’s Lang Lebah field.“This drilling result paves the way for exploration of nearby prospects that have similar geological structures. It also presents opportunity for PTTEP to synergize future development and production of SK417 with the adjacent areas and leverage on our strong expertise in cluster development.”The partners plan to drill a second exploration well in the offshore Malaysian block in the middle of this year as part of their exploration programme.PTTEP, through its subsidiary PTTEP HK Offshore, holds an operating stake of 80% in the Block SK417 production sharing contract (PSC). The remaining 20% stake in the block is held by Petronas.The PSC was awarded under the Malaysia Bid Round 2017 and was signed in March 2018.Petronas said that the gas discovery in Dokong-1 has revived the Baram shallow clastics play, while confirming the presence of more sweet gas targets within the area.Petronas Malaysia petroleum management senior vice president Mohamed Firouz Asnan said: “Monetisation of sweet gas discovery in Baram Province can be supported through existing infrastructure and will contribute towards PETRONAS’ aspiration in delivering reliable, stable and cleaner energy supply to domestic and global markets.“In addition, the Dokong-1 discovery reinvigorates the entire exploration landscape of the Baram Province, strengthening the role of Baram gas supply network as part of the larger Sarawak gas system.”The partners will carry out further evaluation to understand the full extent of the Dokong-1 gas discovery. Further evaluation to be carried out by the partners to determine the full extent of the Dokong-1 gas discoverylast_img read more