Mubadala advances $1 billion Malaysia Pegaga gas field project

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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Why Putrajaya can’t own state oil and gas

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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Petronas raises capital expenditure to RM55 billion

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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Engineer’s remand extended, wife released on bail

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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IGL Training – 2018-07 PSM Training – How does one define it?

May 15, 2018

IGL SERVICES SDN BHD is glad to invite you to take part in our training course that listed below:

Date:        10th July 2018

Trainer:    Rizal Tajuddin

Venue:      Hilton, Petaling Jaya

For Further Information & Registration: Visit here

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Build petroleum university in Miri, says UPP man

May 14, 2018

What’s a petroleum university? A university where the labs include a fully function wellhead? And Miri is a resort city?

Dateline 2018-03-11, Borneo Post:

Being home of the first oil well in the country, Miri should have a petroleum university and an information communication technology (ICT) university built here.

Chairman of UPP Pujut branch Bruce Chai said Miri had vast human capital to support such institutions to be sited here.

“This Resort City has such great human capital with diverse fields of knowledge that have been nurtured over 100 years or so as the oil and gas centre of Malaysia.

“Our economy and business culture has always been a step ahead of most towns and cities in Malaysia because of the transfer of technology and knowledge brought about by the industry,” he said when contacted yesterday.

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Sarawak oil and gas rights pure political rhetoric, says Jeffrey

May 13, 2018

Dateline 2018-03-10, FMT:

While the Sarawak government should be lauded for re-asserting statutory regulatory control over its oil and gas resources, Sarawakians ought to be wary and fully understand the implications of the recent announcement, says Jeffrey Kitingan.

The president of Sabah opposition party, Star, said in a statement today that he agreed with Sarawak Chief Minister Abang Johari Openg on the constitutional right of the Borneo states over its natural resources, including oil and gas, as per the State List in the 9th Schedule of the federal constitution.

“Land is clearly a state matter and the development of these resources by the federation under item 8(j) of the Federal List is subject to Item 2(c) of the State List.

“Under Section 24 of the Sabah Land Ordinance (Cap. 68), all minerals, precious stones and mineral oils which includes petroleum and gas belongs to the Sabah government,” the Bingkor assemblyman said.

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DAP: Sarawak must bring 2 Acts on oil and gas rights to court

May 12, 2018

Dateline 2018-03-10, FMT:

A Sarawak DAP leader says the only way for Sarawak Chief Minister Abang Johari Openg to redeem himself following his claim that the Petroleum Development Act 1976 (PDA) and the Territorial Sea Act 2012 (TSA) are null and void is by taking the issue to court.

Irene Mary Chang, who is Sarawak DAP director of women’s affairs’ bureau, said it was wrong of Johari to say that these two laws are not applicable in Sarawak anymore following his announcement on Tuesday that the state would assume full regulatory authority over the upstream and downstream aspects of the oil and gas industry in Sarawak.

“To declare these two legislations as null and void and therefore have no application in Sarawak, the CM has to first bring the matter before the Courts of Law for such a declaration.

“And until the Courts declare as such, the acts are in force and are applicable in Sarawak. To say otherwise is to give people false hope and the state government owes it to the people to set the matter right,” she said.

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Petronas: We have three-pronged strategy

May 11, 2018

Why does this feel like the sharp end of a trident?

Deadline 2018-01-26, The Star:

Petroliam Nasional Bhd (Petronas) says it has a three-pronged strategy this year which will help it focus on growth.

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the national oil and gas firm wants to expand its core business as well as diversify but is mindful of its cash position.

“One, we are still looking at our cash. Secondly, we want to expand our core business. We are a fully integrated company and I believe in this business model.

“We are looking at ways to extend the value chain of our business,” Wan Zulkiflee was quoted as saying in an interview at the World Economic Forum here.

“Thirdly, we are looking into things that are new to Petronas. For example, we are looking at the potential of being involved in renewables such as solar and other new energies,” he said.

He said a congruence of many events, particularly the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec voluntary production cuts, has helped prop up oil prices.

“We also see some supply disruption in Libya. The demand side is looking good globally and we expect this to continue in the next few years.”

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Business as usual for O&G firms in Sarawak for now

May 10, 2018

Dateline 2018-03-13, Malaysian Reserve:

Oil companies operating in Sarawak are expected to abide by the agreements signed with Petroliam Nasional Bhd (Petronas) for oil and gas (O&G) activities, despite the East Malaysia state’s hydrocarbon resources ownership claims.

Under the Petroleum Development Act 1974 (PDA), oil exploration and hydrocarbon related activities will require the approval from the state-owned energy company.

But resource-rich Sarawak’s announcement to assume control over its natural resources has triggered questions over the past approvals received by oil companies. Petronas is believed to have some 60 oilfields in Sarawak with an average production capacity of 850,000 barrels a day, either produced by the energy company or through production sharing contracts (PSCs).

Petronas partners exploration and production (E&P) companies like Royal Dutch Shell plc, JX Nippon Oil and Gas Exploration Corp, and Murphy Oil Corp. Shell was the first company to explore O&G in Sarawak.

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