Malaysia’s CLIQ emerges as potential Roc Oil suitor

September 24, 2014

Dateline 2014-07-09, Business Spectator:

Malaysia’s CLIQ Energy may end the mystery around Australia’s mid-cap oil and gas group Roc Oil, which surprised the market in June by revealing an unidentified third-party suitor during its controversial merger process with peer Horizon Oil.

“CLIQ Energy is interested in Roc Oil as long as they meet our requirements and at the same time we are also pursuing other assets either as our QA (qualified acquisition) or post QA to create a balance portfolio,” CLIQ told Data Room in an email late on Wednesday.

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PIPC supporters say it’s on track to become ‘Rotterdam of the East’

September 13, 2014

Dateline 2014-06-30, Malaysia Chronicle:

CONTRARY to what detractors say, the Pengerang Integrated Petroleum Complex (PIPC) in Johor is alive and kicking, and on track to become the “Rotterdam of the East”.

Rotterdam of the Netherlands is the world’s largest petroleum and gas hub, followed by Houston in the United States and Singapore.

Almost the size of Singapore, Pengerang, located at the most southeastern tip of Peninsular Malaysia, houses the sprawling 8,000ha PIPC, which is set to become the region’s oil and gas (O&G) hub and promises to provide some 70,000 jobs to locals.

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HOW SAFE? Johor reclamation project TWICE the size of Ang Mo Kio to ‘create oil storage hub’

September 7, 2014

What you don’t realise, is that we want to reclaim land up to Batu Puteh. Go, Johor!

Dateline 2014-06-27, Malaysia Chronicle:

One of the two massive reclamation projects coming up in the Johor Strait will be turned into an oil storage hub to capture spill-over oil and gas business from Singapore, an official with the company involved in the works said yesterday.

The project involving Benalec Holdings will raise a 1,410ha man-made island near Jurong Island, the firm’s chief operating officer Bernard Boey told The Straits Times.

The reclamation is expected to begin before the end of the year.

The project, located off Johor’s Tanjung Piai coast, is roughly twice the size of Ang Mo Kio.

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Who is Nio Petroleum?

September 3, 2014

Hmm,  a series of press releases related to the above. And I really want to follow in their footsteps:

Finance Asia:

 Barclays natural resource investments (BNRI), a division of Barclays Capital, has invested in a Southeast Asia-focused oil and gas development company Nio Petroleum.

Nio Petroleum is an oil and gas development and production company established in 2009, with a primary focus on offshore assets in the Asia-Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. It seeks out undeveloped discoveries, marginal fields and late-life assets in Southeast Asia, which it will add value to through the innovative use of existing and new technologies and commercial know-how, Barclays Capital and Nio Petroleum said in a joint press release yesterday.

Nio Petroleum is founded and managed by Richard Hall and Rory Edwards, a duo with a track record in oil and gas development, derived from working with national and independent oil and service companies over the past 25 years. Their experience includes schemes in the North Sea and offshore Southeast Asia, which have enabled the monetisation of small fields or extended the life of mature fields.

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Oilvoice.com:

…Nio Petroleum Limited (Nio) is working in the Asia Pacific region.

Nio’s primary focus is offshore assets in the Asia Pacific region, particularly Malaysia, Thailand, Vietnam, Indonesia and Australia. In May 2010, Nio acquired Blocks SB307 and SB308 offshore Sabah in Malaysia in conjunction with Lundin Petroleum and PETRONAS Carigali.

PETRONAS, 2010-05-19:

PETRONAS AWARDS TWO EXPLORATION BLOCKS TO LUNDIN PETROLEUM, NIO PETROLEUM AND PETRONAS CARIGALI

 PETRONAS today awarded Blocks SB307 and SB308 offshore Sabah under a single Production Sharing Contract (PSC) to a partnership comprising Lundin Malaysia B.V., Nio Petroleum Ltd., and PETRONAS Carigali Sdn Bhd.

Blocks SB307 and SB308 measure approximately 6,230 sq km and is located in water depths of up to 70 metres. Both blocks have been explored since 1965 and have led to the discovery of the producing Barton, South Furious and St. Joseph fields, currently operated by Sabah Shell Petroleum Company Ltd under a different PSC.

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Bloomberg Businessweek:

Nio Petroleum Limited offers oil and gas development and production services in Malaysia, Thailand, Vietnam, Indonesia, and Australia. Nio Petroleum Limited was incorporated in 2009 and is based in London, United Kingdom.

 EDP 24:

Nio Petroleum (Sabah), set up by two former managers at oil services and production firm Petrofac, is being bought by EnQuest, based in Aberdeen.

The firm was set up in 2010 by Richard Hall, who previously worked with Norwich-based Acteon before moving to Petrofac, and Rory Edwards, also previously at Petrofac.

It said its niche was opening up dormant discoveries and redeveloping mature, previously developed fields and was working in partnership with Malaysian state firm Petronas and Sweden’s Lundin on two blocks of the coast of Sabah, Borneo.

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Bloomberg Businessweek:

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As of November 9, 2012, Nio Petroleum (Sabah) Limited operates as a subsidiary of EnQuest PLC.

 

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No ‘Plan B’ for Pengerang

August 26, 2014

Did I say that Mohd Yazid Jaafar is my senior?

Dateline 2014-06-23, The Rakyat Post:

With the main purpose of development at Pengerang – as an oil storage terminal – already realised, the major spillover benefits to the still-underdeveloped corner of southern Johor would have not taken off if Petronas hadn’t agreed to invest there recently.

“There was no ‘Plan B’ for major investments in the area,” said Johor Petroleum Development Corporation (JPDC) chief executive officer Mohd Yazid Jaafar at a recent media briefing.

“Without commitment from Petronas, development plans for the whole Pengerang area could have been badly delayed. We could have lost out to other projects about to take off in Singapore and Indonesia.”

Mohd Yazid explained that there is just a small window of opportunity over the next few years for Pengerang to attract petroleum majors and strategic downstream industry investors.

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Reach Energy SPAC listing gets SC nod

August 23, 2014

Dateline 2014-06-23, The Sun Daily:

Reach Energy Bhd, the fourth oil and gas (O&G) special purpose acquisition company (SPAC) to be listed, aims to raise RM750 million from a listing on the Main Market of Bursa Malaysia.

It obtained approval from the Securities Commission Malaysia (SC) for its listing exercise last Thursday.

Reach Energy’s initial public offering (IPO) exercise provides an issue price of 75 sen per public issue share which comprises: 980 million public issue shares together with 980 million Warrants on the basis of one warrant for every one public issue share subscribed by way of placement to selected investors and 20 million public issue shares together with 20 million warrants on the basis of one warrant for every one public issue share subscribed available for application by the Malaysian public.

The company said in a statement last Friday that it expects to complete the flotation exercise by the third quarter of 2014.
Hong Leong Investment Bank Bhd is the principal adviser, placement agent and underwriter for its initial public offering (IPO) exercise.

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PM: Govt to reduce dependence on oil, gas revenue to 28.9%

July 29, 2014

Dateline 2016-06-09, The Star:

Malaysia’s move to diversify its economy will see it reducing its dependence on oil and gas revenue while focus will be on the services sector, says Datuk Seri Najib Tun Razak.

The Prime Minister said on Monday that in 2008, oil and gas accounted for 39.7% percent of total revenue, but this year it is forecast to be 28.9%.

“Services now account for 55.2% of GDP, well on the way to our target of 65% by 2020. Inflation is projected to be between 3% and 4%, and we are essentially at full employment,” he said at the opening of the Invest Malaysia 2014.

Najib, who is also the Finance Minister, said since the Asian Financial Crisis, the government had focused on the fundamentals to create a strong and stable financial architecture.

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Is Malaysia’s Pengerang Part of Greater Singapore?

July 18, 2014

Definitely link bait. Please bite. Greater Singapore, indeed.

Dateline 2014-050-26, The Establishment Post:

Pengerang used to be a fishing village famous for its succulent lobsters. Each weekend a good number of Singaporeans would take a two-hour drive to get to the southernmost tip of Johor on the east to savour Pengerang’s lobsters and other sea delights fresh from the Johor Straits. It had at least eight seafood restaurants, way too many for a tiny township.

Two years ago, reclamation work started in the coastal area of Pengerang and there were no more fishermen and neither was there any more coast for fishing. This was the start of a massive RM170 billion (US$53 billion) project called the Pengerang Integrated Petroleum Complex (PIPC).

This is said to be the biggest project ever by Malaysia in terms of scale and size. Lawmakers and corporate leaders claim that this project Pengerang in will turn Malaysia into a mega petrochemical. But what about the Greater Singapore plan?

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Gas Malaysia Q1 earnings up 3.6% to RM41.61m

July 11, 2014

Dateline 2014-05-15, The Star:

Gas Malaysia Bhd‘s earning rose 3.6% to RM41.61mil in the first quarter ended March 31, 2014 from RM40.14mil a year ago.

The company said on Thursday revenue increased by 8.4 % to RM580.57mil  from RM535.44mil due to higher volume of gas sold by 10.2% and the number of customers. Its earnings per share were 3.24 sen compared with 3.13 sen.

Gas Malaysia said its earnings depend on the cost of the natural gas purchased and the volume of gas sold to customers.

The board expected an increase in the volume of gas and number of customers to continue in financial year 2014.

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Maybank Research retains Overweight on oil and gas sector

July 5, 2014

Who the heck is Yinson?

Dateline 2014-05-14, The Star:

 Maybank Investment Bank Research is maintaining its Overweight call on the oil and gas sector and its top picks are Dialog Group, Perdana Petroleum,SapuraKencana Petroleum, Perisai Petroleum and Yinson.

It said on Wednesday these companies had exposures in the Refinery and Petrochemical Integrated Development  (RAPID), offshore support vessels (OSV), Malaysia exploration and production (E&P), offshore drilling and  floating production, storage and offloading (FPSO).

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