Gas Production Commences at B15 Field Offshore Sarawak

May 26, 2018

Dateline 2018-03-22, Rigzone:

Sapura Exploration and Production (Sarawak) Inc. (Sapura E&P) announced Thursday that it has commenced gas production at the B15 field, located within the SK310 production sharing contract (PSC) area offshore Sarawak in East Malaysia. Output figures for the field were not revealed.

Discovered in December 2010, the B15 gas field achieved the milestone within two years of the sanction of its field development plan.

The B15 development comprises a processing platform with a 21-mile pipeline tied into existing infrastructure for onwards transmission into the Malaysia Liquefied Natural Gas (MLNG) complex at Bintulu, Sarawak.

“This milestone achievement at B15 was achieved on schedule and within budget,” Tan Sri Dato’ Seri Shahril Shamsuddin, president and group CEO of Sapura Energy Berhad, which owns Sapura E&P, said in a company statement.

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Sapura Energy bags contract from Mudabala Petroleum

May 25, 2018

Dateline 2018-03-21, NST:

Sapura Energy Bhd secured a contract from Mubadala Petroleum to undertake engineering, procurement, construction, installation and commissioning (EPCIC) works for the Pegaga gas development field in Block SK320, offshore Sarawak.

The contract was awarded to its wholly owned subsidiary, Sapura Fabrication Sdn Bhd by Mubadala Petroleum following the Final Investment Decision by Mubadala Petroleum and its partners Petronas Carigali Sdn Bhd (PCSB) and Sarawak Shell Bhd.

“This is our sixth contract win since the beginning of the year. It’s a good start for us. We are proud to be working with a highly respected company such as Mubadala Petroleum and supporting its first development in Malaysia,” said Sapura Energy president and group chief executive officer Tan Sri Shahril Shamsuddin.

Sapura Energy views the increased capital spending by oil and gas firms is an indication that the industry is making a gradual shift towards better times amidst renewed optimism.

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Oil and gas players should remain vigilant: Petronas

May 24, 2018

Dateline 2018-03-20, NST:

Oil and gas players should keep the operating costs in check and continue to remain vigilant as the industry outlook remains uncertain.

Petroliam Nasional Bhd (Petronas) president and chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said it is imperative to continue to be vigilant in maintaining cost discipline and drive for efficiency.

“There is a concern here that with the oil price recovery, costs are showing signs of increasing at a worrying rate. This is likely being driven by a premature exuberance among industry players.

“If we do not keep these escalating costs in check, the industry as a whole runs the risk of negating the value we have gained from intensive cost-efficiency efforts over the last three years,” he said during his address at the Offshore Technology Conference 2018 (OTCAsia 2018).

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Block SK 316 divestment delayed

May 21, 2018

Dateline 2018-03-21, Upstream Online:

Malaysia’s national oil company Petronas has delayed the potential divestment of a significant stake in Block SK 316 offshore Sarawak, East Malaysia that is home to the giant Kasawari gas field.

There has been a delay in the process, PTTEP President Phongsthorn Thavisin said on the sidelines of OTC Asia. The Thai national upstream player is still interested in coming on board this gas-rich acreage and would “normally be interested in 10% to 20% of such a prize, added Phongsthorn.

Petronas is set to this year decide whether to line up a partner for Block SK 316 or whether to solely pursue the exploitation of Kasawari, which has an estimated re­coverable resource of 3 trillion cubic feet of gas.

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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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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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Saturday Star 2018-05-05 – Job Opportunities

May 7, 2018

Happy ‘who shall I vote for’ week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 3Q2018. Send me your POs.

Food choice of the week? Apparently, IEM sponsonsed meals

This week, may I suggest you have a peek at Dakwah Corner? They have branches in Subang Parade, PJ Section 14, Ampang Park (okay, forget about the Ampang Park branch)

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Sarawak’s claim on oil resources could change sector’s dynamics

May 6, 2018

Dateline 2018-03-08,  The Malaysian Reserve:

The Sarawak government’s announcement that it is taking full regulatory control over its oil and gas (O&G) resources could change the dynamics of the sector which has been for more than four decades regulated under one law.

The Petroleum Development Act 1974 (PDA) gave the exclusive rights of exploring, exploiting, winning and obtaining petroleum, whether onshore or offshore in Malaysia, to state-owned oil company Petroliam Nasional Bhd (Petronas).

Resource-rich Sarawak announced it would assume full regulatory authority over the O&G industry upstream and downstream activities in the state by July this year.

The announcement was made by Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg when he launched Petroleum Sarawak Bhd (Petros) in Kuching on Tuesday.

Abang Johari was reported as saying that anyone and companies involved in the O&G industry in the state must have the necessary licences, permits, leases and approvals required either under the state’s Oil Mining Ordinance, or the Gas Distribution Ordinance.

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