PTTEP partners with PCSB and PSEP in Block SK325, offshore Malaysia

May 30, 2023

Dateline 2023-02-XX, Europetrole:

PTT Exploration and Production Public Company Limited (PTTEP) joins PETRONAS Carigali Sdn. Bhd. (PCSB) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) as a partner in offshore exploration Block SK325. The investment further expands PTTEP’s growth opportunity in Malaysia while strengthening relationship with business partners.

PTTEP Chief Executive Officer, Mr. Montri Rawanchaikul, revealed that PTTEP Sarawak Oil Limited (PTTEP SKO), a subsidiary of PTTEP, along with PCSB and PSEP have signed a Production Sharing Contract (PSC) with Petroliam Nasional Berhad (PETRONAS) for the offshore exploration Block SK325 which was offered under the Malaysia Bid Round (MBR) 2022. MBR is an annual licensing round organized by Malaysia Petroleum Management (MPM), PETRONAS as the custodian of petroleum resources in Malaysia

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Japan’s Inpex secures two offshore blocks in Malaysia in gas expansion bid

May 29, 2023

Dateline 2023-02-15, Reuters:

Inpex 1605.T, Japan’s top exploration and production company, has secured new production sharing agreements with Malaysian companies Petronas and Petroleum Sarawak Berhad (Petros) located offshore of the state of Sarawak, Inpex said on Wednesday.

Companies from Japan, a resource-poor nation, are trying to expand their presence in global fossil fuel projects, from oil to liquefied natural gas, and are also developing renewable energy, including at home, to diversify energy sources.

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Inpex and Petros to jointly pursue CCS development in Malaysia

May 26, 2023

Dateline 2023-02-15, Offshore Energy:

Japan’s exploration and production company Inpex has signed a joint collaboration agreement with Malaysian oil and gas exploration firm Petroleum Sarawak Berhad (Petros) for the potential development of a carbon capture and storage (CCS) project in Sarawak, Malaysia.

The CCS project will target CO2 emitted from gas fields with high concentrations of CO2, petrochemical industries, power plants, manufacturing industries and other sources in Sarawak.

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Longboat Energy Set to Tap into Malaysia’s Offshore Gas Potential with Block 2A PSC

May 25, 2023

Dateline 2023-0215, Offshore Engineer:

Longboat Energy, an oil and gas company so far mostly focused on offshore oil and gas operations offshore Norway, is expanding internationally with the recent award of an offshore exploration block in Malaysia.

Longboat said Wednesday it had won a Production Sharing Contract (“PSC”) for Block 2A, a large exploration block offshore Sarawak, Malaysia, “with material gas resource potential.”

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Malaysia’s probable and proven petroleum reserves at 6.9 billion barrels, about 61% in Sarawak, says Azalina

May 24, 2023

Dateline 2023-02-15, The Bono:

Malaysia’s probable and proven reserves of petroleum, which is indicated as its 2P reserves, totalled 6.9 billion barrels of oil equivalent (boe), of which 4.2 billion boe are in Sarawak, followed by 1.3 billion boe in Sabah.

Generally, 2P reserves have a more than 50% chance of being technically and economically possible to be produced.

The country’s petroleum reserves could last 15 years based on the reserves life index calculation, according to Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

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May 23, 2023

Under tow: Borr Drilling’s jack-up rig Gunnlod.Photo: BORR DRILLING

PTTEP appraising Malaysian discovery, eyes cluster development

Dateline 2023-02-07, Upstream:

Thailand’s national upstream company PTTEP has spudded the latest in a string of keenly watched exploration and appraisal wells offshore Malaysia where it is hoping to continue its success of late with the drill bit, firming up more hydrocarbons for a proposed cluster development.

Borr Drilling’s rig Gunnlod is drilling the Sirung-2 appraisal well located on Block SK 405B offshore Sarawak, East Malaysia.

The successful Sirung-1 wildcat that was spudded in January 2021 discovered both oil and gas.

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Malaysia faces ‘inconvenient truth’ on clean energy goals

April 17, 2023

Dateline 2023-02-03, NST:

Malaysian Chuan Zhen Ko’s passion for clean energy and climate change was first ignited by his university lecturers and watching the 2006 Oscar-winning documentary “An Inconvenient Truth”, starring former US Vice-President, Al Gore.

Ko, now 39, launched himself into a career in the renewables industry about 15 years ago, working on green projects in a dozen countries before returning home to the capital Kuala Lumpur.

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Malaysia Renewables Growth Hindered By Unrealistic Targets And Absence Of Robust Policies, Says Report

April 8, 2023

Dateline 2023-01-23, Solarquarter:

Malaysia has set a target to achieve 31% of its total power generation from renewables by 2025 and 40% by 2035. Both objectives are highly unrealistic, as only 3.3% of electricity is generated through renewables at present. As per the current growth trend, Malaysia is expected to achieve only 5.5% of its power generation through renewables by 2025 and 6.6% by 2035, due to the absence of robust policy support, states GlobalData, a leading data, and analytics company

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Petronas’ growing oil discoveries reflect strategy to expand upstream focus

March 21, 2023

Dateline 2023-01-23, S&P Global:

Robust oil prices had encouraged Petronas to pump funds into the upstream sector, helping the state-run firm to increase its hydrocarbon discoveries sharply in 2022, a sign that the Malaysian oil giant remains focused on traditional businesses while embracing a changing energy landscape.

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Malaysia: PETRONAS signs new Discovered Resource Opportunities PSCs

March 20, 2023

Dateline 2023-01-18, Energy Pedia:

PETRONAS has signed Production Sharing Contracts (PSCs) for three clusters of Discovered Resource Opportunities (DRO) marketed under the Malaysia Bid Round (MBR) 2022.

The A Cluster was awarded to Ping Petroleum and Petroleum Sarawak Exploration & Production (PSEP), while Dialog Resources and PSEP won the bid for the Baram Junior Cluster. Both clusters are located off the coast of Sarawak.

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