Malaysia find biggest ever for PTTEP

August 10, 2019

Was this the acreage they bought from Murphy?

Dateline 2019-06-28, Bangkok Post:

SET-listed oil and gas explorer PTT Exploration and Production Plc has made a gas discovery off the shore of Sarawak in Malaysia, marking PTTEP’s biggest find ever.

Through wholly owned subsidiary PTTEP HK Offshore Ltd (PTTEP HKO), the company found the gas at Lang Lebah-1RDR2, the first exploratory well in the Sarawak SK410B project.

The subsidiary commenced drilling in March to a total depth of 3,810 metres in Lang Lebah-1RDR2. The well encountered 252 metres of net gas pay, indicating a multi-trillion-cubic-feet discovery, and was tested in a carbonate main target reservoir with a completion-constrained rate of 41.3 million standard cubic feet per day (MMSCFD) and 246 barrels of condensate per day (BCPD).


Malaysia closer to opening up natural gas market

August 9, 2019

Dateline 2019-06-27, The Star:

Malaysia is moving closer towards opening up its natural gas market to spur competition and demand.

Petroliam Nasional Bhd (Petronas) executive vice-president and CEO for gas and new energy Adif Zulkifli said Malaysia was just one price review away from achieving market-based gas pricing this year.

“If this happens, it would truly be a game-changer as our gas reforms move towards market liberalisation,” he said during his speech at the Malaysian Gas Symposium (MyGas) 2019 here, organised by the Malaysian Gas Association (MGA).


Petronas-Saudi joint venture to restart crude unit at Malaysia refinery in July: sources

August 8, 2019

Dateline 2019-06-29, Reuters:

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, is expected to restart a crude distillation unit at its oil refinery in Malaysia in July, three sources familiar with the matter said.

The Pengerang Refining development, part of Petronas’ $27 billion Pengerang Integrated Complex, consists of a 300,000 barrels-per-day (bpd) oil refinery and a petrochemical complex with a production capacity of 7.7 million tonnes per year in the southern Malaysian state of Johor.

The refinery stopped trial runs in April for safety checks after a fire occurred at the atmospheric residue desulfurization (ARDS) unit.

 


Malaysian PM Mahathir Bin Mohamad Plans A Sustainable Future For Malaysia

August 7, 2019

Dateline 2019-06-25, Forbes:

It was in 2003 that Malaysian Prime Minister Mahathir Bin Mohamad addressed the eighth edition of the Asia Oil & Gas Conference. Now 16 years later, he was back in front of the oil and gas luminaries at the 20th Asia Oil & Gas Conference (AOGC) that took place in Kuala Lumpur from June 23rd to 25th. “Last time I was here it was at a period when the world witnessed geopolitical uncertainties in the Middle East and the impact of the outbreak of SARS in Asia,” he told the assembled delegates. “Brent crude oil price then was at an average of $28 per barrel.”

The effects of the war for oil

Since the time that Mahathir last opened the conference, the oil price has been on a rollercoaster ride reaching heights of $145 in 2008 and $125 four years later. But it has not all been peaks, with the price slumping to $32 per barrel within six months of its all-time high in 2008, with further troughs experienced in 2014 and 2016.

 


Kuwait’s KUFPEC discovers gas in Malaysian block SK-410B

August 6, 2019

Dateline 2019-06-27, Reuters:

Kuwait Foreign Petroleum Exploration Company (KUFPEC) said on Thursday it had made a significant gas discovery in block SK-410B in Malaysia.

The block is located in shallow waters, nearly 90 km (56 miles) off the coast of Sarawak, it said in a statement.

The discovery was made by KUFPEC Malaysia, a wholly-owned subsidiary of the Kuwaiti firm, which holds a 42.5% working interest under a production sharing contract with PETRONAS Carigali Sdn. Bhd. and PTTEP HK Offshore Ltd.


Malaysia closer to opening up natural gas market

August 5, 2019

I thought it was open already.

Dateline 2019-06-27, The Star:

Malaysia is moving closer towards opening up its natural gas market to spur competition and demand.

Petroliam Nasional Bhd (Petronas) executive vice-president and CEO for gas and new energy Adif Zulkifli said Malaysia was just one price review away from achieving market-based gas pricing this year.

“If this happens, it would truly be a game-changer as our gas reforms move towards market liberalisation,” he said during his speech at the Malaysian Gas Symposium (MyGas) 2019 here, organised by the Malaysian Gas Association (MGA).


Rajiv: No question of political will, govt on track with renewable energy targets

August 4, 2019

Dateline 2019-06-26, Star Online:

There is no question over political will of the government in its effort to promote the uptake of renewable energy (RE), says Sustainable Energy Development Authority (Seda) board member Rajiv Rishyakaran.

His statement was in response to economist Prof Dr Jomo Kwame Sundaram’s comment that there was a lack for political commitment to push for a swift implementation of the RE agenda.

Jomo said that the enforcement of alternative energy appeared to be lagging.