Ninth gas discovery offshore Sarawak will enhance SK408’s viability

July 17, 2018

Dateline 2018-06-13, Borneo Post:

Sapura Energy Bhd (Sapura Energy) and partners Sarawak Shell Bhd (Sarawak Shell) and Petronas Carigali Sdn Bhd’s (Petronas Carigali) ninth gas discovery offshore Sarawak is expected by analysts to further enhance the viability of the SK408 project cluster by leveraging on the common infrastructure, pipelines and facilities .

In a filing on Bursa Malaysia, Sapura Energy through wholly-owned subsidiary, Sapura Exploration and Production (Sarawak) Inc (Sapura E&P) and the group’s partners Sarawak Shell and Petronas Carigal announced its ninth gas discovery offshore Sarawak, following the completion of its 2017 drilling campaign within the SK408 Production Sharing Contract (PSC).

Sapura Energy announced that the Pepulut-1 exploration well located offshore Bintulu, Sarawak in Block SK408 was drilled and encountered high quality reservoir.

 


Natural gas tariff for non-power sector to go up from July 1

July 15, 2018

Dateline 2018-06-13, The Sun:

Gas Malaysia Bhd has announced a higher average effective natural gas tariff for the non-power sector in Peninsular Malaysia at RM32.69/MMBtu from July 1 to Dec 31, 2018, 17 sen or 0.5% higher than the RM32.52/MMBtu from Jan 1 to June 30, 2018.

It said in a filing with the stock exchange that the average natural gas base tariff is set at RM31.92/MMBtu for the second half of the year. However, under the gas cost pass through (GCPT) mechanism, a surcharge of 77 sen/MMBtu will apply to all tariff categories due to the higher actual gas costs against the reference gas costs in the base tariff.

The natural gas tariff revision was approved by the government via a letter from the Energy Commission dated June 12.

For Category A (Residential), the effective tariff rate, however, fell 0.5% to RM23.80/MMBtu from RM23.92/MMBtu. For the other categories, the effective tariff rate will range from RM30.50/MMBtu to RM33.32/MMBtu.

 


PH has urged Sarawak government to amend PDA

July 14, 2018

Dateline 2018-06-06, NST:

Sarawak Pakatan Harapan has urged the state government to amend the Petroleum Development Act 1974 (PDA).

Its chairman Chong Chieng Jen said if this was not done, the ownership and control of oil and gas industry in Sarawak would remain with Petroliam Nasional Bhd (Petronas).

He said the Chief Minister Datuk Patinggi Abang Johari Abang Openg had refused to do so and insisted that PDA was irrelevant in Sarawak.

“He (Abang Johari) has been saying the PDA is irrelevant and claimed that the state has the full regulatory authority over the upstream and downstream aspects of the oil and gas industry, with the establishment of the Petroleum Sarawak Berhad (Petros).

 


Oil ownership case may ‘break’ Malaysia, STAR warns

July 12, 2018

Oo, does that mean we will have ‘Malay’ and ‘Sia Republic’?

Dateline 2018-06-06, FMT:

Parti Solidariti Tanah Airku (STAR) president Jeffrey Kitingan today warned that any court ruling favouring Petronas in the matter of petroleum resources ownership could signal “the end” of Malaysia.

“If the federal government insists on this, we will go back to the basis of the formation of Malaysia.

“What do they want to do? Break up Malaysia? This is a big case, and I am surprised the state government is not saying anything about it,” he told reporters after attending the annual Double Six memorial day here.


Malaysia’s Finance Ministry unearths S$3.2b gas pipeline scandal

July 11, 2018

Dateline 2018-06-05, Straits Times:

Malaysia’s Finance Ministry has discovered dubious payments made in two pipeline projects, with nearly 90 per cent of the contracts worth RM9.4 billion (S$3.2 billion) being paid out but only 13 per cent of the work being completed.

The projects – one multi-product petroleum pipeline running from Melaka and Negeri Sembilan to Kedah, and a gas pipeline from Kimanis to Sandakan and Tawau, all in Sabah – were handled by Suria Strategic Energy Resources (SSER), a wholly owned subsidiary of the Ministry of Finance.

 


Malaysia’s national oil company files for declaration it owns all oil, including in Sarawak

July 9, 2018

Dateline 2018-06-04, Straits Times:

Malaysia’s national oil company Petroliam Nasional (Petronas) has gone to court for a declaration that it is the exclusive owner of the petroleum resources in the country, including in Sarawak state.

Petronas said on Monday (June 4) it had filed an application before the Federal Court seeking the declaration under the Petroleum Development Act 1974 (PDA), which governs the petroleum industry in Malaysia.

The application also seeks a declaration that Petronas is the regulator for the upstream oil industry throughout Malaysia, including in Sarawak.


Don’t plunder Petronas, Najib tells Pakatan government

July 6, 2018

Avast there, maties! BTW, when does Datuk Seri get his Tun?

Dateline 2018-05-31, The Star:

Former prime minister Datuk Seri Najib Tun Razak (pic) has urged the new government not to plunder funds from Petronas for bailouts.

“I urged the new government to continue to give sufficient space and capital to Petronas to fulfil their vision and not to plunder funds from Petronas or through bail-out missions as what was done during the 22 years of Tun Dr Mahathir Mohamad’s previous administration,” he said on his Facebook post on Thursday (May 31).

Najib noted the new Pakatan Harapan government recently stated that the shortfall in revenue due to the abolishment of the Goods and Services Tax (GST) would be made up by Petronas, Khazanah, and Bank Negara Malaysia by making higher dividend payments to the government.