Cosmo Energy Holdings (5021) · RiskFormer DPSA Ended and New Agreement Signed
Recovery risk due to the expiry of the Qatar production sharing agreement and sluggish production
First written in FY2022. 1 of 2 entries say "Materialised", first in FY2022. Latest entry: FY2023-Q3.
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Investment recovery risk from the expiry of a Qatar oil development contract and declining productionA theme 1 companies write about · 1 as a headwind · 0 as a tailwind
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- FY2023-Q3Former DPSA Ended and New Agreement SignedAnnual report
「In addition, a new agreement has been signed under which the company will operate the block as operator.」
Qatar Petroleum Development Co., Ltd.'s DPSA for the Al-Kalkara and A structures expired on 22 December 2022, while the company entered into a new contract to operate the block as operator. - FY2022MaterialisedAnnual report
「As the expiry date of the production sharing agreement, December 2022, approached, we examined the details of a proposal to extend the agreement in light of current production levels. As uncertainty regarding the continuation of the business increased, we assessed whether an impairment loss needed to be recognized for the fiscal year. Following the assessment, an impairment loss of ¥10.849 billion was recorded.」
In the Qatar oil development business, production fell short of expectations because of malfunctions in production facilities, and uncertainty regarding the continuation of the business increased as the December 2022 contract expiry approached. An impairment loss of ¥10.849 billion was actually recorded.