Petronas to accelerate capex

June 26, 2013

Dateline 2013-06-07, Sun Daily:

Petroliam Nasional Bhd (Petronas) will likely play catch up on capital expenditure (capex) over the next three years with focus on developing Malaysian oilfields as it remains committed to increasing production.

“(Petronas’) capex spending will progressively pick up over the next three years amid delays in executing the Refinery and Petrochemical Integrated Development (Rapid),” Maybank Investment Bhd (Maybank IB) said in a research note yesterday.

Petronas had said that the final investment decision (FID) on its RM60 billion Rapid project is expected by March 2014, which in effect pushes back the completion date for the project’s first phase by a year to 2017.

It noted Petronas had only subscribed 29% of the total RM300 billion capex it had put aside for a five year period since 2011.

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Malaysia Pushes Joint Development to Solve Asia Sea Disputes

June 22, 2013

Dateline 2013-06-03, Business Week:

Malaysian Prime Minister Najib Razak called for claimants in the South China Sea to jointly develop resources to avoid conflict and prevent “extra-regional states” from becoming involved.

Najib cited a joint development zone in waters claimed by Thailand and Malaysia as a precedent that could be applied in the South China Sea. Vietnam and the Philippines reject China’s map as a basis for joint development in the waters, part of which are also claimed by Malaysia, Brunei and Taiwan.

“Agreeing to share prosperity, rather than let it divide us, is infinitely preferable to the alternative,” Najib said in a speech yesterday in Kuala Lumpur.

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Third PSC contract attracts much interest

June 14, 2013

Dateline 2013-05-19, Borneo Post:

The announcement of the third round of Petroliam Nasional Bhd’s (PETRONAS) risk service contract (RSC) licensing for 10 marginal fields has excited the sector favourably, attracted up to two dozen players in its process.

According to AmResearch Sdn Bhd (AmResearch) in a sectoral outlook previously, the fields for this third round include Bunga Pelaga, Rompin, Endau, Lada Hitam, D41 and A21 off Sarawak, Rusa Timur, Mutiara Hitam and Kuda Terbang off Sabah and Ophir, the lone field on offer off Peninsula Malaysia.

The research firm noted that five of the fields — Ophir, Bunga Pelaga, Lada Hitam, Rusa Timur and Mutiara Hitam — were offered in two earlier licensing rounds in 2011 and 2012.

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MyCEB Targets RM66.5 Million Economic Impact From OTC Asia 2014

June 8, 2013

From Bernama, dateline 2103-05-20:

The Malaysia Convention & Exhibition Bureau (MyCEB) is targeting an economic impact of RM66.5 million from the Offshore Technology Conference OTC Asia 2014.

The conference, from March 25-28, 2014, at the Kuala Lumpur Convention Centre here, is also expected to welcome 6,600 international delegates to Malaysia, MyCEB said in a statement Monday.

Its Chief Executive Officer Zulkefli Sharif said Asia is increasingly gaining the attention of global players for business events, and Malaysia in particular, is highly regarded as an important port of call for international meetings.

He said the oil and gas sector accounts for around one-fifth of Malaysia’s Gross Domestic Product (GDP) and is included in the country’s Economic Transformation Programme (ETP) outline.

 

 

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Be transparent with PETRONAS money first

April 30, 2013

Dateline 2013-04-07:

Malaysia’s non-commodity Khazanah Nasional, founded in 1993, is ranked 23 with US$34 billion in assets and a Linaburg-Maduell Transparency Index (LM-TI) of 5.

The world’s largest sovereign wealth fund (SWF) is Norway’s oil-based Government Pension Fund-Global. It was set up in 1990 and is currently registered with assets worth US$664.3 billion with a perfect 10 LM-TI.

UAE-Abu Dhabi’s oil-based Abu Dhabi Investment Authority, established in 1976, is ranked second with US$627 billion with a 5 LM-TI.

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Newfield Has ‘Largest’ Success in Gas Discovery off Malaysia

April 21, 2013

Aren’t Newfield selling of their Malaysian assets? Anyone have change to spare?

Dateline 2013-04-03:

Newfield Exploration Co. (NFX), the U.S. oil producer exploring the sale of offshore assets, had what it called the “largest conventional exploratory success” in its history with a natural gas discovery off the coast of Malaysia.

The B-14 well encountered 1,585 feet (483 meters) of net natural gas in about 250 feet of water 50 miles (80 kilometers) offshore, The Woodlands, Texas-based company said in a statement today after the close of regular trading. Newfield operates Block SK 310 and has a 30 percent interest. Mitsubishi Corp. (8058) owns 30 percent and Petronas Carigali holds 40 percent, Newfield said.

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Petronas considers RM5 billion Islamic bond programme

April 3, 2013

Dateline 2013-03-29, Borneo Post Online:

Malaysia’s Petronas Gas Bhd (Petronas Gas) is considering setting up a RM5 billion (US$1.6 billion) Islamic bond programme to part finance the construction of regasification plants, three people familiar with the deal said.

The gas distribution arm of state oil company Petroliam Nasional Bhd (Petronas) invited proposals from investment banks to arrange the debt sale, said the people, who asked not to be named as the details were private.

A sale would be the Kuala Lumpur-based company’s second offering of sukuk, or debt that paid returns on assets to comply with Islam’s ban on interest.

It sold RM860 million of syariah-compliant notes in August via unit Kimanis Power Sdn Bhd to part finance a power plant, with maturities ranging from 2016 to 2028.

The 5.05 per cent notes due in 2023 yielded 4.23 per cent on Wednesday, according to data compiled by Bloomberg.

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Malaysia faces oil and gas ‘brain drain’

March 22, 2013

As if zombies eating our brains wasn’t scary enough…

Dateline Bangkok Post Ides of March:

Malaysian oil and gas workers are being lured away from home by foreign companies, leading to a shortage of skilled labour, according to the deputy director-general of the country’s Manpower department.

 

A Petroliam Nasional Bhd. (PETRONAS) gas station stands in front of the Petronas Twin Towers in Kuala Lumpur, Malaysia, on March 5.

Malaysia is facing a “brain” drain in the oil and gas industry as local workers are lured away by higher salaries abroad, according to the deputy director-general of its Manpower department. (Bloomberg photo)

 

Multinational oil and gas firms based in Singapore and the Middle East are attracting Malaysian workers with higher salaries, Syed Mohamad Noor Syed Mat Ali told The Star.

He added that foreign countries were reaping the benefits of Malaysia’s efforts to train locals, who subsequently left to work abroad.

“There is nothing much that Malaysia can do to stop highly skilled locals in the O&G sector from working in other countries,” said Mr Mohamad Noor.

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Sabah’s natural gas set to fuel growth of industries over next few decades

March 14, 2013

Any Sabahan companies want to team up with Synergy? We’re going to need to create a company in Sabah, to reap its assets? Or did I spell reap wrong?

Dateline 2013-03-07, by the Malaysian Insider:

Sabah, with over 12 trillion cu ft of gas reserves, is able to fuel the growth of various industries, including the larger ones, over a few decades, said Deputy Chief Minister Datuk Dr Yee Moh Chai.

He said the active promotion of natural gas usage, a much cheaper and environmentally-friendlier alternative fuel, was in line with the government’s five-fuel policy, thus avoiding over-dependence on a single energy source.

“On average, a 1,000-megawatt (MW) gas-fired combine cycle power plant requires 1.1 trillion cu ft of gas over a period of 25 years.

“The total capacity of Sabah Electricity Sdn Bhd is 866.4 MW. You can work out the scale and magnitude of what the little reserves we have can do for us,” he said at a talk on “Alternative Energy Source — Compressed Natural Gas” here today.

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Marketing Rounds – Piasau Business Park

February 12, 2013

Looks like quite a few oil & gas companies here.

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