OGSE industry to consolidate further

March 31, 2021

When Yazid talks, y’all listen like it’s a Friday khutbah.

Dateline 2021-03-18, Malaysian Reserve:

MALAYSIA Petroleum Resources Corp (MPRC) expects local oil and gas (O&G) services and equipment (OGSE) players to reduce asset ownership this year despite the easing of movement restrictions and modest economic recovery.

MPRC president and CEO Mohd Yazid Ja’afar (picture) said for 2020-2021, it will be a challenging period for OGSE players due to disruption of economic activities which has led to grounding of thousands of airplanes and destruction in demand for oil.

“We expect 2021 to be a slightly better year for the OGSE industry as major economies start to reopen, albeit with strict adherence to Covid-19 standard operating procedures like observing physical distancing, and countries like the UK, US, China, India and Malaysia have rolled out their vaccination campaigns,” he said in a statement yesterday.

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Malaysia’s oil and gas industry in recovery cycle

March 30, 2021

Hahahahahahahah

Dateline 2021-03-18, Malaysian Reserve:

Malaysia’s oil and gas industry is in the recovery cycle this year as several sectors within the industry are expected to chart gradual recovery such as engineering, procurement, construction, installation, and commissioning (EPCIC), said AmInvestment Bank Bhd.

The investment bank said among the sectors was rising EPCIC would be driven by several activities, including pipeline installations growing by 4.2x to a base-case of 266 days in 2023 from 64 days in 2021 as more development projects tie in to existing platforms or processing facilities.

“Decommissioning of wells increase to 18 this year from 15 in 2020, which will rise further to 24 in 2022 and expand to remove 51 conductors, two floaters and one fixed platform,” it said in a research note Thursday.

AmInvestment Bank said currently, 56 per cent of Petronas’ 350 facilities were operating beyond the assets’ design life, 38 per cent of the 750 pipelines, while 45 per cent of the 3,000 wells were idle with over 500 wells were expected to be permanently plugged by 2030.

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MB: Johor govt to lobby Putrajaya over in-limbo RM1.4b Pengerang solar project

March 29, 2021

I guess Tuanku is really pissed off:

Dateline 2021-03-018, Malay Mail:

The Johor government will push for federal government approval for the proposed RM1.4 billion Sultan Ibrahim Solar Park in Pengerang as it is seen as beneficial to the state.

Johor Mentri Besar Datuk Hasni Mohammad said the state government will likely request for a special allocation for Johor to develop the solar park.

“We will propose to the Energy Commission of Malaysia as soon as possible for Johor to be given a special allocation quota.

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O&G firm asset manager, wife plead not guilty to bribery, money laundering involving RM1.17m

March 26, 2021

I can neither confirm nor deny that I took 5% as lubrication money in the form of cryptocurrency. Or handbags.

Dateline 2021-03-15, Malay Mail:

An asset manager of an oil and gas company and his wife were charged at the Sessions Court here today with 18 counts of accepting bribe and money laundering involving RM1.17 million between 2018 and 2019.

Len Chia Whey, 37, and Tong Karen, 36, however, pleaded not guilty to all offences before Judge Rozilah Salleh.

Len was charged with accepting cash of RM232,593 through a middleman as an inducement to help KK Choong Synergy Sdn Bhd secure four oil pumping subcontract projects, namely in Mukim Semabok, Melaka; Pekan Tanjung Karang and Mukim Ijok in Kuala Selangor, Selangor; and in Mukim Tebrau in Johor.

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Suhaili Idrus appointed chairman of MPRC

March 25, 2021

I don’t say that he doesn’t look great in the article photo, but 90s is asking for their photo back. And when is Yazid getting his Datukship?

Dateline (hey, there’s no date), The Star:

Oil and gas industry veteran Datuk Dr Ahmad Suhaili Idrus has been appointed chairman of the Malaysia Petroleum Resources Corporation (MPRC).

In a statement on Friday, MPRC president and chief executive Mohd Yazid Ja’afar said Suhaili Idrus’ appointment is part of the agency’s strategic effort to provide additional leadership experience to support its growth aspiration.

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Anniversary – Exxon Valdez

March 24, 2021

Safety engineers never forget.

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After 49 oil and gas workers test Covid-19 positive, Sarawak says index case, company now under scrutiny

March 23, 2021

Dateline 2021-03-04, Malay Mail:

The Sarawak Disaster Management Committee (SDMC) will take stern action against an individual and an oil and gas company in Miri, if it is found that standard operating procedures (SOP) were not complied with, its chairman Datuk Amar Douglas Uggah said today.

He said SDMC is conducting an investigation into the matter after 49 oil and gas workers tested positive for Covid-19 today.

“We will not hesitate to take stern action as a warning to us all,” he told reporters during a media briefing on the Covid-19 situation in the state.

He said this cluster involved a day tripper who failed to comply with the SOP and was exposed to Covid-19 in a high-risk area.

“A total of 49 Covid-19 positive cases identified in the Miri district are from the Baram Oil and Gas Platform.

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Net Energy Metering 3.0: New Rooftop Solar Initiatives

March 22, 2021

Dateline 2021-03-03, Lexology:

On 30 December 2020, the Ministry of Energy and Natural Resources (‘KETSA’) announced the introduction of the Net Energy Metering 3.0 programme (‘NEM 3.0’). This announcement is pursuant to the 500MW quota under the previous Net Energy Metering programme (‘NEM 2.0’) being fully taken up as of 27 November 2020. NEM 3.0 introduces three new initiatives which are considered below.

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Petronas launches Malaysia Bid Round 2021, offers 13 exploration blocks

March 17, 2021

Deadline 2021-03-01, The Bono:

Petroliam Nasional Bhd (Petronas) has launched the Malaysia Bid Round (MBR) 2021, under which the company is offering 13 oil and gas exploration blocks to open up more investment opportunities for investors to explore and monetise hydrocarbon resource potentials in Malaysia.

Petronas said in a statement today that out of the 13 offshore blocks, three are situated in the Malay basin in Peninsular Malaysia, four in the Sabah basin and the remaining six are located in the Sarawak basin. The Malay basin blocks are known as PM340, PM327 and PM342, the Sabah basin blocks are indicated as SB409, SB412, 2W and X, while the Sarawak basin blocks are specified as ND3A, SK4E, SK328, SK427, SK439 and SK440, according to Petronas.

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Southeast Asia’s biggest solar energy park coming up in Johor

March 16, 2021

What exactly can you do at SE park? Have you been to your local cogen electricity park lately?

Dateline 2021-02-28, FMT:

Johor is set to become a major producer of eco-friendly energy in Southeast Asia with the opening of a RM1.4 billion solar energy park in Pengerang, Kota Tinggi.

The park, named after Sultan Ibrahim Sultan Iskandar, will be the biggest of its kind in the region with a capacity of 450MW, the ruler said today.

He said the solar park is the first large-scale private investment project secured by the state for 2021 and was a result of his efforts to encourage investment and economic development for the state.

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