ENERGY

Genting Energy comprises the power and oil & gas business activities of the Group.

Genting Power Holdings Limited (“Genting Power”) spearheads the power businesses of the Group. Its total gross installed capacity is 5,137MW with net attributable operating capacity of 2,097MW from its interests in coal-fired, gasfired and wind power plants in Indonesia, China and India. Genting Oil & Gas Limited (“Genting Oil & Gas”) spearheads the oil and gas businesses of the Group.

In China, Genting Power has 49% interest in two power plants in Meizhou Wan, Putian, Fujian. Meizhou Wan phase 1 comprising 2x393MW coal-fired power units (“MZW 1”) and Meizhou Wan phase 2 comprising 2×1,000MW ultra-supercritical coal-fired power units (“MZW 2”). Genting Power co-developed MZW 2 power plant with SDIC Power Holdings Co. Ltd., a China state owned enterprise.

During the year, MZW 1 and MZW 2 underwent an internal merger exercise and merged into a single project company, namely, SDIC Genting Meizhou Wan Electric Power Company Limited. This exercise is expected to improve the operational efficiency of the power plants.

In India, Genting Power has interests in three power plants, namely:

  • 100% owned 91.8MW Jangi wind farm in Gujarat;
  • 41.6% owned 113MW Lanco Tanjore power plant in Tamil Nadu;
  • 15.3% owned Lanco Kondapalli power plant in Andhra Pradesh (comprising 368MW phase 1, 366MW phase 2 and 742MW phase 3).

In Indonesia, Genting Power has 55% interest in 660MW supercritical coal-fired power plant in Banten Province, West Java, Indonesia (“Banten power plant”). Banten power plant achieved more than 90% availability in 2019. Banten power plant, a Build-Own-Operate-Transfer IPP, is part of the Indonesian Government’s 35,000MW power plant programme. Banten power plant provides reliable base load generation capacity into PT PLN (Persero)’s Java-Bali power grid.

Genting Oil & Gas’ wholly owned subsidiary, Genting CDX Singapore Pte Ltd has 49% working interest in the Petroleum Contract for the Petroleum Exploration, Development and Production in Chengdaoxi Block in the shallow waters of Bohai Bay, China.

Chengdaoxi Block has an area of 29 square kilometres and has consistently produced close to 8,000 barrels of oil per day. It delivered approximately 2.8 million barrels of oil in 2019 and Genting Oil & Gas’ share was approximately 1.27 million barrels. China’s China Petroleum & Chemical Corporation (Sinopec) is the partner of this joint venture.

Genting Oil & Gas’ wholly owned subsidiary, Genting Oil Kasuri Pte Ltd has 100% participating interest in an onshore oil and gas development activities in the Kasuri Production Sharing Contract in West Papua, Indonesia.

With the approval from the Ministry of Energy and Mineral Resources of Indonesia on the Plan of Development for the Kasuri block, Genting Oil Kasuri Pte Ltd had commenced the front end engineering design work since the third quarter of 2019 and is expected to complete by the second half of 2020. Utilising 1.7 trillion cubic feet of discovered gas reserves in the Roabiba formation in the Asap-Merah-Kido structures, Genting Oil Kasuri Pte Ltd plans to supply about 170 million cubic feet per day of natural gas for 20 years to a petrochemical plant in West Papua, which is in the plan and will be built by a third party.

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