December 7, 2018
Dateline 2018-10-14, Borneo Post:
Chief Minister Datuk Patinggi Abang Johari Tun Openg has reiterated that Sarawak will not compromise on regulatory rights over its oil and gas activities.
He said the state had amended its Oil Mining Ordinance (OMO) 1958 to further strengthen the regulatory rights over oil and gas activities in Sarawak.
“I would like to assure you once again that we will not compromise on the issue of Sarawak oil and gas. The oil and gas are ours and the OMO 1958 gave us full control over oil and gas in our state.
“Other parties (industry players) can develop our resources and our gas but they cannot do so if they do not have licences issued by the State of Sarawak through PETROS (Petroleum Sarawak Bhd),” he said during the parade and rally in conjunction with Sarawak Yang di-Pertua Negeri Tun Abdul Taib Mahmud’s 82nd birthday celebration at Dataran Tun Tuanku Haji Bujang here yesterday.
December 6, 2018
Dateline 2018-10-11, Malaysian Reserve:
Malaysia’s oil and gas (O&G) sector is looking to recruit and invest in new talent and technology due to improved market confidence as a result of stronger energy prices.
Monster.com Asia-Pacific and Middle East CEO Abhijeet Mukherjee said these factors have unlocked new investments and operations in large-scale O&G projects.
“This increase in activity is enabling companies to refocus on recruiting quality talent to lead and deliver value,” he told The Malaysian Reserve.
The industry, he added, is gradually shifting from dependency on manual labour to becoming data-and analytics-driven.
“We see recruitment happening in new areas such as robotics, big data and artificial intelligence as companies use technology to make working conditions more attractive, better forecast and production more economically viable.”
According to the Monster Employment Index (MEI), Malaysia’s O&G sector has witnessed positive annual growth in online recruitment since April last year.
December 4, 2018
Yeah, since Sabah wants to emulate them.
Dateline 2018-10-11, FMT:
It has been over one and a half years since the announcement to set up Petroleum Sarawak Bhd (Petros) was made. Until today, no specifics have been released by the Sarawak government or its Chief Minister Abang Johari Openg.
As days go by, more questions emerge such as the amount of initial paid-up and working capital the state government will inject to get Petros operational, and who will make up the senior management aside from Saau Kakok who has been announced as its CEO.
Saau is a former special projects vice-president of US-based independent oil company, Hess Corporation.
Abang Johari, when announcing the setting up of Petros in 2017, said: “Petros is expected to be in operation within six months because we must get our side ready for us to get involved in upstream oil and gas (O&G) activities.”
December 3, 2018
INSP is International Sourcing Program.
Dateline 2018-10-09, Malaysian Reserve:
MALAYSIAN companies have recorded a total RM397.9 million of export potential via the International Sourcing Programme (INSP) at the 4th Malaysian Oil and Gas Services Exhibition and Conference (MOGSEC) 2018 that was held between Sept 25 and Sept 26, 2018.
The exhibition saw the participation of 34 Malaysian oil and gas (O&G) companies that were eyeing export markets including the United Arab Emirates, Pakistan, Turkey, Myanmar and Vietnam.
Malaysia External Trade Development Corp (Matrade) CEO Dr Mohd Shahreen Zainooreen Madros (picture) said in a statement the export potential was configured through 86 meetings organised under the INSP.
“The INSP helps a great deal for local companies as they get to meet with the foreign buyers in their home country, giving them a competitive advantage in terms of cost,” he said.
He added that foreign buyers at the INSP this year were sourcing various Malaysian O&G services including equipment and parts, rig cooling services, well-testing support equipment services, vessel monitoring systems, remote monitoring, manpower supply and services, transportation and logistics, services gas, as well as saturation logging and simulation studies.
December 2, 2018
Dateline 2018-10-09, Borneo Post:
In support of the government’s efforts to achieve Malaysia’s COP21 targets, the Malaysian Gas Association (MGA) is advocating for the expanded use of natural gas, a clean, efficient and cost-effective fuel, to reduce the country’s carbon emissions and drive social, environmental and economic progress.
Malaysia’s natural gas industry reported a cumulative contribution to the nation’s gross domestic product (GDP) amounting to 4.2 per cent, comprising of domestic sales of natural gas at US$2.45 billion and exports in the form of liquified natural gas (LNG) valued at US$10.56 billion in 2015.
Commenting on the industry, MGA president Hazli Sham Kassim said that given that natural gas is the cleanest burning fossil fuel, the association believes natural gas can play a prominent role in ensuring the country achieves its COP21 promise by supporting the expansion of renewable energy while simultaneously driving Malaysia’s economic progress.
December 1, 2018
Is the boon enough to keep me in the business?
Dateline 2018-10-01, Market Pulse:
Rising oil prices will be a boon to the local oil and gas (O&G) sector as production is expected to rise and producers seek to pump more crude from the available and new wells.
Analysts also expect oil companies to free up more of their budget for upstream activities after four years of doldrums and expenditure slashing.
Oanda Corp head of trading for Asia Pacific Stephen Innes said despite the Brent crude price optimism of reaching the US$100 (RM414) per barrel level will be a “short-term phenomenon”, it will facilitate more upstream activity globally.
“Higher oil prices will attract more capital to offshore rigs, which are expensive but profitable near current levels, result in pipeline infrastructure improvement from the US Permian basin, and allow Russia and OPEC to ramp up production.