Average production of 23,690 Boepd (33,603 Boepd gross) remains in line with the Group’s 2021 guidance, which remains unchanged. The reduction from 2020 reflects the impacts of a riser tether repair and natural declines. Production and water injection efficiency remained strong at 90% and 92%, respectively, and the FPSO continues to perform well. To date, a number of maintenance activities have been undertaken allowing for the deferral of the planned shutdown to 2022. Subsurface and well performance remains good, with aggregate water cut evolution in line with expectations. A successful 3D seismic campaign was completed in July, providing valuable data for the Group to evaluate fully the development potential of the western area of the field, in addition to supporting ongoing optimisation of the main Kraken field, including potential infill opportunities.
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Guidance and outlook
Operating costs are expected to be approximately $300 million, reflecting lower lease charter credits driven by higher uptime at Kraken, additional production enhancement scopes and topside maintenance activities at Magnus, higher diesel costs and sterling strength
All in all, this is good news for Armada Kraken! It looks like Bumi Armada will be earning higher revenue/income from the FPSO as a result of "lower lease charter credits driven by higher uptime at Kraken", and potentially also "additional production enhancement scopes" which could be recognised as variation orders ("VO").
This counter seems to attract more buyers now. Hopefully will move but need next quarter results at least RM500 mill profit and oil price above USD82 to start the LU. Of course big boss big buy.
The government has agreed to open the tourism sector in several destinations under the ‘travel bubble‘ programme based on a list of conditions.
As reported by Utusan Malaysia, Prime Minister Datuk Seri Ismail Sabri Yaakob said, for a start, Langkawi Island was chosen as a pilot project to be reopened to local tourists on Malaysia Day, 16 September.
“We are pleased to inform that through the meeting, we agreed to open the tourism sector in several destinations under the “travel bubble” programme based on the conditions set. For a start, Langkawi Island has been selected as a pilot project to reopen to local tourists starting 16 September,” he said.
He added that it would not be long before other tourist destinations will also be a part of this project.
“Other tourist destinations will be allowed to operate when the locality vaccination rate reaches 80%,” he said.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
nikicheong
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Posted by nikicheong > 2021-09-02 15:22 | Report Abuse
https://www.enquest.com/media/press-releases/article/2021-half-year-results