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Australasia

Australasia

Philippine San Miguel unit seeks $400 mln from banks to build power plant

Philippine conglomerate San Miguel Corp's energy subsidiary is borrowing $400 million from banks to finance the construction of a power plant north of the capital, IFR reported on Wednesday. SMC Global Power Holdings Corp mandated DBS Bank, Mizuho Bank and Standard Chartered for a $400 million, seven-year loan for the construction of a 300-megawatt coal-fired power plant in Bataan province, said IFR, a Thomson Reuters publication.

Australasia

Roxi makes exploration gains in Central Asia

Kazakhstan focused oil and gas firm Roxi Petroleum has made a second find associated with its flagship BNG asset. Core samples and logging in the second well have revealed a potentially oil bearing interval starting from 4,536 meters and extending 100 meters. It’s located approximately eight kilometres from the first deep well and is being drilled by Sinopec, the Chinese multinational, at a fixed cost of $11 million.

Australasia

GE signs first deal after Australia passes clean-energy target

General Electric Co. agreed to help develop a A$450 million ($348 million) wind farm in Australia, spurred by parliament’s approval of a new renewable energy target. GE will supply turbines to the 240-megawatt Ararat wind farm in the state of Victoria that’s being developed with partners including Renewable Energy Systems Ltd., according to a statement from the companies. The development is expected to become the nation’s third-largest wind farm.

Australasia

AWE Limited reaches total depth at Waitsia well

AWE Limited has reached total depth at the Waitsia-1 appraisal well in the Perth Basin, Western Australia. The company said the Holmwood Shale was intersected at 3,490metres and total depth was achieved 17metres into the Holmwood Shale. Wireline logs will be run over a number of intervals, including the Dongara and Kingia Sandstones.

Australasia

ITF leads collaboration into tropical cyclone forecasting in Australia

Global energy companies have joined forces to fund new research which aims to improve offshore safety in Northern Australia by researching tropical cyclone forecasting. ITF (The Industry Technology Facilitator) has led the collaboration to secure funding for the two-year $3.2million project. It will be carried out by the Australian Bureau of Meteorology and includes companies such as Chevron, Shell and Woodside.

Australasia

Shell delays drilling of Australian well

Shell has delayed drilling of a $100million-plus exploration well off Australia’s north-west coast. The Shell Cronus-1 well had been due to start drilling in the Browse Basin but has been delayed until later in the year. It comes after a number of wells were also deferred including Japan’s Inpex Corporation and Santos, while a number of other companies have sought modifications to terms.

Australasia

KDM Marine International appoint new regional manager for eastern hemisphere

KDM Marine International have appointed a regional manager for their work in the eastern hemisphere. The company, which is part of the James Fisher Group, has appointed Faisel Chaudry as their new regional manager for the eastern hemisphere. Faisel, who has more than eight years' experience in the oil and gas and offshore renewables industries, is tasked with growing the market-leading company's presence in regions like the Middle East, India, North Africa and Asia Pacific.