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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Liquefied Natural Gas Limited    LNG   AU000000LNG0

LIQUEFIED NATURAL GAS LIMITED

(LNG)
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Liquefied Natural Gas : Gas Production Reaches 94. 2 Million Cubic Feet

10/01/2020 | 05:07am EST

The production of associated gas reached 94. 2 million cubic feet in August, a value that corresponds to a daily average of 3.040 million cubic meters of gas (MMSCFD).

This average is 9.63% above the forecast of 2,773 MMSCFD, according to data published in the newsletter of the National Agency of Oil, Gas and Biofuels (ANP) to which Angop had access.

Also in August, the Angola LNG (Liquefied Natural Gas) plant, installed in Soyo (northern Zaire province), produced 4. 6 million BOE (barrels of oil equivalent).

This value, according to ANP data, includes liquefied natural gas (LNG), butane, propane and condensates, corresponding to an average of 151. 371 BOEPD- barrels of oil equivalent per day.

According to the document, LNG production was 3,781,488 BOE, corresponding to an average of 121,984 BOEPD, while for propane the sacred was 427,044 BOE, equivalent to an average of 13,776 BOEPD.

It states that the production of butane amounted to 283. 9110, an average of 9. 158 BOEPD, being for convicts of 200. 070 BOE, corresponding to an average of 6. 454 BOEPD.

With an investment of USD 12 billion, the Angola LNG project was built to take advantage of offshore natural gas resources and is one of the largest projects ever undertaken in the oil and gas sector in Angola.

The project is the result of a partnership between Sonangol, Chevron, BP, Eni and Total, to collect, process and launch 5.2 million tons of Liquefied Natural Gas (LNG) on the global market annually.

The project also supplies the Angolan market, to help meet the energy needs of industry and local consumption. With a permanent fleet of seven LNG tankers and three loading terminals (LNG, liquids and compressed butane), the project's mission is to minimize the reinjection and flaring of gas, provide clean and reliable energy to customers and maximize the return on investment.

Block 0 produces LPG In the same period, the Cabinda Association (Block 0) had a production of liquefied petroleum gas (LPG) of 519. 222 barrels, which corresponds to a daily average of 16,749 barrels. As for oil, condensates and LPG, production was 39. 957. 532 BOE, which corresponds to a daily average of 1. 288. 953 BOE. According to data from ANPG, the efficiency of the installations was 89% against the 91% initially forecast. For the reference period (August), three rigs were operational, two drill ships (Skyros in Block 32), Maersk Voyager (Block 17) and the land rig Ideco 350 (in the FS / FST concession). Work was also carried out in seven wells, both in deep waters and onshore. During this period, fluid losses occurred in the Block's MOS-W14, forcing a 42 meter drilling.

Copyright Angola Press Agency. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Financials
Sales 2019 - - -
Net income 2019 -33,5 M -24,9 M -24,9 M
Net cash 2019 19,8 M 14,7 M 14,7 M
P/E ratio 2019 -3,98x
Yield 2019 -
Capitalization 24,8 M 18,4 M 18,4 M
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees -
Free-Float 83,6%
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Managers
NameTitle
Gregory M. Vesey Chief Executive Officer & Managing Director
John G. Baguley Chief Operating Officer
Michael Reed Mott Chief Financial Officer
D. Michael Steuert Independent Non-Executive Director
Joseph B’Oris Chief Development Officer
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