May 27, 2018
Dateline 2018-03-24, The Star:
WHILE a cautious outlook is being projected for the upstream oil and gas (O&G) sector this year, national oil company Petroliam Nasional Bhd (Petronas) is confident that the challenges facing the industry can be overcome with the proper strategies in place.
Petronas executive vice-president and upstream chief executive officer Datuk Mohd Anuar Taib says the company already has a growth plan outlined for it.
“When people ask me about the outlook, you have to be positive in this business.
“We will work towards a plan that we have, which is capital and operational discipline,” he said during a briefing in conjunction with the Offshore Technology Conference Asia 2018 earlier this week.
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Posted by Wata
May 26, 2018
Dateline 2018-03-22, Rigzone:
Sapura Exploration and Production (Sarawak) Inc. (Sapura E&P) announced Thursday that it has commenced gas production at the B15 field, located within the SK310 production sharing contract (PSC) area offshore Sarawak in East Malaysia. Output figures for the field were not revealed.
Discovered in December 2010, the B15 gas field achieved the milestone within two years of the sanction of its field development plan.
The B15 development comprises a processing platform with a 21-mile pipeline tied into existing infrastructure for onwards transmission into the Malaysia Liquefied Natural Gas (MLNG) complex at Bintulu, Sarawak.
“This milestone achievement at B15 was achieved on schedule and within budget,” Tan Sri Dato’ Seri Shahril Shamsuddin, president and group CEO of Sapura Energy Berhad, which owns Sapura E&P, said in a company statement.
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May 25, 2018
Dateline 2018-03-21, NST:
Sapura Energy Bhd secured a contract from Mubadala Petroleum to undertake engineering, procurement, construction, installation and commissioning (EPCIC) works for the Pegaga gas development field in Block SK320, offshore Sarawak.
The contract was awarded to its wholly owned subsidiary, Sapura Fabrication Sdn Bhd by Mubadala Petroleum following the Final Investment Decision by Mubadala Petroleum and its partners Petronas Carigali Sdn Bhd (PCSB) and Sarawak Shell Bhd.
“This is our sixth contract win since the beginning of the year. It’s a good start for us. We are proud to be working with a highly respected company such as Mubadala Petroleum and supporting its first development in Malaysia,” said Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin.
Sapura Energy views the increased capital spending by oil and gas firms is an indication that the industry is making a gradual shift towards better times amidst renewed optimism.
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Posted by Wata
May 24, 2018
Dateline 2018-03-20, NST:
Oil and gas players should keep the operating costs in check and continue to remain vigilant as the industry outlook remains uncertain.
Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said it is imperative to continue to be vigilant in maintaining cost discipline and drive for efficiency.
“There is a concern here that with the oil price recovery, costs are showing signs of increasing at a worrying rate. This is likely being driven by a premature exuberance among industry players.
“If we do not keep these escalating costs in check, the industry as a whole runs the risk of negating the value we have gained from intensive cost-efficiency efforts over the last three years,” he said during his address at the Offshore Technology Conference 2018 (OTCAsia 2018).
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May 21, 2018
Dateline 2018-03-21, Upstream Online:
Malaysia’s national oil company Petronas has delayed the potential divestment of a significant stake in Block SK 316 offshore Sarawak, East Malaysia that is home to the giant Kasawari gas field.
There has been a delay in the process, PTTEP President Phongsthorn Thavisin said on the sidelines of OTC Asia. The Thai national upstream player is still interested in coming on board this gas-rich acreage and would “normally be interested in 10% to 20% of such a prize, added Phongsthorn.
Petronas is set to this year decide whether to line up a partner for Block SK 316 or whether to solely pursue the exploitation of Kasawari, which has an estimated recoverable resource of 3 trillion cubic feet of gas.
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Posted by Wata
May 20, 2018
Dateline 2018-03-21, Reuters:
Mubadala Petroleum, Petronas and Royal Dutch Shell will spend more than $1 billion to develop Malaysia’s Pegaga gas field, aiming to produce gas by the third quarter of 2021, Abu Dhabi-based Mubadala said on Wednesday.
The project in Block SK320, located in the Central Luconia province, offshore the East Malaysian state of Sarawak, will now proceed to the construction and installation stage, the company said in a statement.
Mubadala is the operator of the block with a 55 percent share while Petronas Carigali holds a 25 percent interest and Sarawak Shell holds 20 percent.
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May 19, 2018
Deadline 2018-03-15, FMT:
State rights activist Zulfaqar Sa’adi has voiced concern over the possibility that the federal government will eventually claim to be the rightful owner of oil and gas resources belonging to Sarawak.
Speaking to FMT, he said he feared that Putrajaya would interpret its right of sovereignty over the states of the federation as meaning that it could claim property rights as well.
That would be erroneous, he said, citing Section 75 of the Malaysia Agreement 1963 (MA63) and Article 12 (1) of the Sarawak constitution.
He said the documents explicitly showed that lands, including those covered by water, as well as everything attached to them, were state property.
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Posted by Wata
May 18, 2018
Dateline 2018-03-05, The Edge:
Petroliam Nasional Bhd (Petronas) is set to increase its capital expenditure for the first time in three years on the back of the recovery in oil prices and its ongoing cost-efficiency drive that boosted profit in 2017 to a level not seen since 2013.
Petronas will spend “around RM55 billion” this year on capex with a higher commitment to upstream development. The national oil firm spent RM44.5 billion on capex in 2017 — down 11.7% from 2016 — with a focus on the downstream sector.
“We are in a stronger position to execute our long-term growth strategy,” president and CEO Tan Sri Wan Zulkiflee Wan Ariffin — better known as Wan Zul — told reporters at the group’s 2017 results briefing last week.
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May 17, 2018
Isn’t this kinda low on the scale of rates for bribes in O&G? And why aren’t they releasing names?
Dateline 2018-03-11, Malay Mail:
The magistrate’s court here today extended the remand order of an oil and gas company engineer by four days, beginning tomorrow, to facilitate investigations into alleged soliciting and accepting bribes amounting to RM361,000.
Magistrate Mohd Dinie Syazwan Ab Syukor allowed the remand extension until March 15 after the Malaysian Anti-Corruption Commission filed an application in relation to the matter.
At the same time, the magistrate allowed the suspect’s wife to be released on a RM30,000 bail in one surety.
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Wata - Malaysian Oil and Gas Engineer 