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. The division’s total gross installed capacity was 5,135MW as of 31 December 2018 with net attributable operating capacity of 2,097MW from its interests in 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 interests in two power
plants, namely:

  • 49% owned 786MW coal-fired Meizhou Wan power plant phase 1 (“MZW 1”) in Putian, Fujian; and
  • 49% owned 2×1,000MW ultra-supercritical coal-fired Meizhou Wan power plant phase 2 (“MZW 2”) adjacent to MZW 1.

Genting Power co-developed MZW 2 with SDIC Power Holdings Co. Ltd., a China state owned enterprise.

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 and
  • 15.3% owned Lanco Kondapalli power plant in Andhra Pradesh (comprising 368MW phase 1, 366MW phase 2 and 740MW phase 3).

In Indonesia, Genting Power has a 55% interest in a 660MW supercritical coal-fired Banten power plant located in Indonesia. Banten power plant has consistently achieved more than 90% availability since the commencement of its commercial operation. The plant is part of Indonesia’s Build-Own-Operate-Transfer programme and provides 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 a 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 (“Petroleum Contract”).

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 2.80 million barrels of oil in 2018 and Genting Oil & Gas’ share
was approximately 1.34 million barrels. China’s China Petroleum & Chemical Corporation (Sinopec) is the partner of this joint venture.

During the year under review, the working interest in the Petroleum Contract was diluted from 57% to 49% in accordance to the Second Supplementary
Agreement of the Petroleum Contract entered in June 2014, in exchange for the extension of the production period until April 2026.

Genting Oil & Gas’s wholly owned subsidiary, Genting
Oil Kasuri Pte Ltd has onshore oil and gas development activities in the Kasuri Production Sharing Contract in West Papua, Indonesia (“Kasuri PSC”).

During the year under review, it progressed from the
exploration to the development phase after the first phase Plan of Development for the Asap-Merah-Kido structures within the concession area for the Kasuri PSC (“POD 1”) received approval from the Ministry of Energy and Mineral Resources of the Republic of Indonesia.

The POD 1 will utilise about 1.7 trillion cubic feet of
discovered Gas-In-Place in the Roabiba formation in the Asap-Merah-Kido structures. The concession period for the Kasuri PSC will end in 2038. The remaining structures, other prospects and leads are to be explored in the future.

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