Malaysia’s Sarawak awards key onshore acreage

July 24, 2021

Dateline 2021-06-21, Energy Voice:

The eastern Malaysian state of Sarawak, home to the country’s liquefied natural gas (LNG) export complex, has awarded its first onshore block to Petra Energy and Uzma, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.

Malaysia’s Petra Energy will operate Block SK433 on behalf of joint venture partner Uzma following the award by state-energy company Petroleum Sarawak (PETROS). Block SK433 covers the Miri-Marudi area in Northern Sarawak. It also holds a discovery, Adong Kecil.

In a statement Friday, the Sarawak Chief Minister’s Office (CMO) said the award was the result of a competitive bidding exercise that was managed by PETROS since January this year.

The CMO said this marks a significant milestone for Sarawak as it looks forward to the resumption of active exploration and production activities onshore.

How a bumi equity issue between two oil firms escalated into a ‘judicial fixing’ saga

July 23, 2021

I wait for the BEM to weigh in on Bumi onwership and PEPC directors

Dateline 2021-06-21, MalaysiaKini:

What began as an issue over the bumiputera equity requirement for a Petronas licence involving a Malaysian unit of Aker Solutions ASA, Norway’s largest oil services firm, has escalated into claims of judicial fixing that have rocked the legal fraternity.

The last two weeks saw a flurry of developments – the charging of an Aker Solutions manager, the Malaysian Bar expressing concern over alleged misconduct by one of its members – and most intriguing was a police report by the Office of the Chief Justice against a senior lawyer for allegedly bringing the judiciary into disrepute.

Petronas and Pertamina face removal from US banking giant’s ESG index

July 22, 2021

Dateline 2021-06-18, Upstream Online:

Asian national oil companies Petronas of Malaysia and Indonesia counterpart Pertamina are on a watchlist for removal from JP Morgan’s Environmental, Social & Governance (ESG) Emerging Market Bond Index at the end of June.

The US bank said both state-owned players “are expected to exit the ESG suite at the June month-end rebalance” as their scores fell below the required threshold for inclusion.

The bank uses third party companies to assess the ESG score required for inclusion in the index. Sustainalytics, one of these companies, said some of Petronas’ or its affiliates’ activities in “high-risk regions” could be viewed as a violation of a United Nations arms embargo, reported Reuters, citing the bank’s statement.

Sarawak govt endorses Petros award of oil exploration to Petra Energy

July 21, 2021

Dateline 2021-07-18, Malay Mail:

 The state government has endorsed the conditional award by state-owned Petroleum Sarawak Berhad (Petros) for Sarawak onshore block SK 433 to Petra Energy Development Sdn Bhd, a wholly-owned subsidiary of Petra Energy, and its joint venture partner, Uzma Engineering Sdn Bhd,  a wholly-owned subsidiary of Uzma Berhad.

In a statement today, the Chief Minister’s Office (CMO) said the award is the result of a competitive bidding exercise that was managed by Petros since January this year.

The CMO said this is a significant milestone for Sarawak as it looks forward to the resumption of active exploration and production activities onshore.

More oil and gas companies going green

July 20, 2021

Dateline 2021-06-18, The Star:

Amid greater calls to address the climate change agenda, more local oil and gas (O&G) companies are taking steps to prepare for a greener future, including through commitments to reduce carbon emission and diversifying their investments into renewable energy (RE) assets.

Notably, O&G companies have been targets for scrutiny as they are seen to be operating in a highly carbon intensive business.

But contrary to public perception, BIMB Securities Research pointed out that many O&G companies listed on Bursa Malaysia are actually environment, social and governance (ESG) friendly companies – although they are stronger in the social and governance aspects.

Norwegian oil firm may face action for ‘misleading’ Petronas

July 19, 2021

Dateline 2021-06-11, Malaysiakini:

Norwegian oil services firm Aker Solutions said on Thursday one of its managers was being questioned by Malaysian authorities and three sources familiar with the case said they expected charges to be filed today.

Malaysia’s Anti-Corruption Commission (MACC) has been investigating allegations that Norway’s biggest oil services company made false representations to win licences from state energy group Petronas that are normally reserved for companies that meet ethnic quota requirements under Malaysian law.

Hess’ latest pact with Petronas lays foundation for potential Malaysia exit

July 18, 2021

Dateline 2021-06-10, Peril of Africa (my sources are everywhere)

Petronas and Hess have agreed amendments to an existing upstream gas sales agreement for fields offshore Malaysia that cements the value of the US-based company’s North Malay Basin assets. This makes any potential divestment process easier as Hess focuses on its prolific acreage offshore Guyana.

“This gas sales agreement now cements the value of the NMB (North Malay Basin) and lays the groundwork for a sale as Hess needs billions of dollars for Guyana,” a Kuala Lumpur-based industry source told Energy Voice.

Company senior vice president charged with cheating O&G firm

July 17, 2021

Dateline 2021-06-11, The Malaysian Reserve:

A senior vice-president of an engineering company was charged in the Sessions Court here, today with duping a leading oil and gas company into listing his company as a qualified company with Bumiputra status, three years ago.

Ahmad Hatta Kamaruzzaman (picture), 50, who is also head of Aker Engineering Malaysia pleaded not guilty after the charge against him was read before judge Izralizam Sanusi.

The accused, as an agent of Aker Solutions Group, was charged with intentionally submitting documents for the purpose of duping the oil and gas company.

It was for the purpose of listing Aker Engineering Malaysia as a qualified company with Bumiputra status, when the accused knew that it was not true.

PTTEP, Petronas aiming for Sarawak gas double

July 16, 2021

Dateline 2021-06-09, Upstream Online:

Thailand’s national upstream company PTTEP is set to spud imminently the Nangka-1 exploration well on the Block SK 147 production sharing contract offshore Sarawak in Malaysia’s exclusive economic zone.

Borr Drilling’s jack-up rig Saga, which was last operating on the Medan Helang D1-1 well, has been lined up for the Nangka wildcat.

Floating LNG sector showing its strengths

July 15, 2021

Operating FLNG units is no more challenging that operating onshore liquefaction facilities” Really?

Dateline 2021-06-04, Upstream Online:

Floating liquefied natural gas contractors are ready to pounce on fresh opportunities in the growing sector after a clutch of eye-catching developments in Asia, Africa and beyond have proven the technology.

Originally envisaged and developed to exploit remote or stranded gas resources, FLNG is currently being deployed in both deep and shallow waters and has even been used to produce from onshore fields.

The technology is also gaining increasing traction as a development option where onshore liquefaction may prove challenging due to security issues, a lack of infrastructure or other factors.

Operating FLNG units is no more challenging that operating onshore liquefaction facilities, Amir Hamzah Ghazali, head of floating LNG at Malaysia’s national oil company Petronas, told Upstream’s “The Future of Floating Liquefied Natural Gas” digital event last week.