|By PR Newswire||
|August 22, 2014 02:00 AM EDT||
SINGAPORE and HAMILTON, Bermuda, August 22, 2014 /PRNewswire/ --
AziPac Limited ("AziPac"), the Seacrest Capital Group backed E&P company focussed on offshore exploration in the Asia Pacific and Bay of Bengal regions, is pleased to announce the acquisition of a 25% interest in Block 127 PSC, offshore Vietnam.
AziPac, through its subsidiary Azimuth Vietnam Limited, has signed a farm-in agreement with Mitra Energy Ltd. ("Mitra"), the operator, for a 25% participating interest in Block 127 PSC, offshore Vietnam. As part of the deal, AziPac will pay a working interest share of the approved past costs and carry part of Mitra's costs of acquisition and processing of a 3D seismic survey, scheduled to be acquired in the second half of 2014. Acquisition of the 3D survey will complete the work programme obligations for the current Exploration Phase which expires on 24 May, 2016. Block 127 is located in the Phu Khanh Basin, off the SE coast of Vietnam. The basin remains relatively underexplored and recent 2D seismic confirms the potential of the basin in terms of prospectivity.
Upon completion of the farm-in, the participating interests in the PSC will be as follows:
Block 127 PSC Mitra Energy (Vietnam Phu Khanh) Pte Ltd 75% Azimuth Vietnam Limited 25%
This farm-in remains subject to the approval of Petrovietnam and the Government of Vietnam.
Frank Inouye, Managing Director of AziPac, commented:
'We are very pleased to have acquired an interest in this highly prospective licence in one of the most exciting hydrocarbon exploration provinces in the world. Vietnam has experienced a renaissance in E&P activity recently and we look forward to working with Mitra Energy to fully evaluate this block.
Block 127 is the second asset AziPac has acquired since we created the company earlier this year. Along with our interest in the Bone PSC in Indonesia, we have what we believe to be a solid platform for future growth in the region.'
Notes to Editors:
Seacrest Capital Group is a leading energy investor specialising in offshore exploration, leveraging its proprietary assets and relationships to build a diversified, global portfolio of regionally focussed oil and gas exploration companies. Since 2011, Seacrest Capital Group has invested in a number of successful start-ups in the United Kingdom and Norwegian North Sea, West Africa, South America, Ireland and South East Asia. As a result of Seacrest's support, AziPac is in a strong position to take advantage of and build on further opportunities as they arise in the offshore Asia Pacific and Bay of Bengal regions.
Oct. 8, 2015 06:30 PM EDT Reads: 150
Oct. 8, 2015 06:15 PM EDT Reads: 122
Oct. 8, 2015 06:15 PM EDT Reads: 246
Oct. 8, 2015 06:00 PM EDT
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
Oct. 8, 2015 06:00 PM EDT Reads: 223
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Oct. 8, 2015 06:00 PM EDT Reads: 2,157
Manufacturing has widely adopted standardized and automated processes to create designs, build them, and maintain them through their life cycle. However, many modern manufacturing systems go beyond mechanized workflows to introduce empowered workers, flexible collaboration, and rapid iteration. Such behaviors also characterize open source software development and are at the heart of DevOps culture, processes, and tooling.
Oct. 8, 2015 06:00 PM EDT Reads: 1,067
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
Oct. 8, 2015 06:00 PM EDT Reads: 377
The web app is agile. The REST API is agile. The testing and planning are agile. But alas, data infrastructures certainly are not. Once an application matures, changing the shape or indexing scheme of data often forces at best a top down planning exercise and at worst includes schema changes that force downtime. The time has come for a new approach that fundamentally advances the agility of distributed data infrastructures. Come learn about a new solution to the problems faced by software organ...
Oct. 8, 2015 06:00 PM EDT Reads: 779
Oct. 8, 2015 06:00 PM EDT Reads: 130
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 8, 2015 05:45 PM EDT Reads: 1,222
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Oct. 8, 2015 05:30 PM EDT Reads: 225
Mobile messaging has been a popular communication channel for more than 20 years. Finnish engineer Matti Makkonen invented the idea for SMS (Short Message Service) in 1984, making his vision a reality on December 3, 1992 by sending the first message ("Happy Christmas") from a PC to a cell phone. Since then, the technology has evolved immensely, from both a technology standpoint, and in our everyday uses for it. Originally used for person-to-person (P2P) communication, i.e., Sally sends a text...
Oct. 8, 2015 05:30 PM EDT Reads: 227
The APN DevOps Competency highlights APN Partners who demonstrate deep capabilities delivering continuous integration, continuous delivery, and configuration management. They help customers transform their business to be more efficient and agile by leveraging the AWS platform and DevOps principles.
Oct. 8, 2015 05:30 PM EDT Reads: 208