Past clean-up not enough to turn around Sapura Energy — what’s next?

November 11, 2021

Dateline 2021-10-30, The Edge:

Sapura Energy Bhd’s latest quarterly loss of RM1.52 billion was a big surprise to the market.

The company, which is 40%-owned by Permodalan Nasional Bhd, was expected to be better prepared having completed its RM10 billion debt refinancing in March. Oil prices doubled from last year to over US$80 (about RM331.28) per barrel. And the group even had a healthy order book of over RM7 billion.

Sapura Energy — arguably the largest Malaysia-listed oil and gas contractor — said that “the decrease was mainly contributed by provisions for foreseeable losses and higher project costs incurred for certain projects during the current quarter”.

Diving Tenggol 2021-10 2oo2

November 10, 2021

Petronas to build Sabah’s first nearshore LNG facility at SOGIP, says chief minister

November 5, 2021

Dateline 2021-10-30, The Edge:

The Sabah state cabinet has endorsed the building of Sabah’s first nearshore liquefied natural gas (LNG) facility by national oil company Petronas at the Sipitang Oil and Gas Industrial Park (SOGIP), said Chief Minister Datuk Hajiji Noor. 

He said the LNG project, subject to a “final investment decision” in 2022, is a step in the right direction, as the state government continues to pursue more deals to get additional revenue via equity participation. 

Pakatan wants swift MACC probe into controversial Sabah pipeline project revival

November 4, 2021

Dateline 2021-10-23, Malay Mail:

Pakatan Harapan leaders issued today demanded explanation and urged authorities to launch a thorough probe into the government’s decision to revive projects seen as legacies of Barisan Nasional mismanagement.

The RM9.4 billion Trans Sabah Gas Pipeline (TSGP) and Multi-Product Pipeline (MPP) projects were scrapped by the former PH administration over alleged funding irregularities.

It was recently revealed that the projects had been revived by the succeeding government led by Tan Sri Muhyiddin Yassin in a decision communicated in February this year.

Controversy as RM4bil Sabah gas pipeline project revived

November 2, 2021

Dateline 2021-10-23, FMT:

Questions are being raised over the revival of a multi-billion ringgit project in Sabah that was scrapped by the Pakatan Harapan (PH) administration in 2018.

The scrapping of the Trans-Sabah Gas Pipeline (TSGP) project was widely reported at the time, though its revival by the Perikatan Nasional-led government was only recently revealed in Parliament.

DAP’s Kota Kinabalu MP Chan Foong Hin was the first to highlight the issue after learning the project was back on track following a written parliamentary answer from finance minister Tengku Zafrul Abdul Aziz.

Government Maintaining Quarantine For Vaccinated O&G Workers

November 1, 2021

Dateline 2021-10-22, Codeblue:

The government has maintained its 14-day quarantine order for oil and gas workers on oil rigs despite them being fully vaccinated, as Covid-19 infections among workers on oil platforms remain high.

Health Minister Khairy Jamaluddin, in a written parliamentary reply on October 12, said surveys this year, as of September, found there were 1,225 Covid-19 cases among local oil and gas workers, of which 375 were detected during the sign-on procedure and 850 during sign-offs.

Sarawak contractors pan Petronas for giving job to peninsular firm

October 30, 2021

I’m sorry for taking your jobs. Could you name shame me in the next article? And the CEO email address, please.

Dateline 2021-10-23, FMT:

The Sarawak Petroleum Contractors Association (Speca) wants the state government to intervene over Petronas’ recent decision to award a contract to a non-Sarawakian company for less specialised works off the state’s coast.

In a statement today, Speca president Rahman Lariwoo said one of its members who participated in the tender for the provision of alternative blasting and painting for Petronas Carigali found out that the job had been awarded to a firm based in Peninsular Malaysia.

“The contract is to provide equipment, manpower and consumables for the alternative blasting works offshore Sarawak.

Committing To Sustainability: How Petronas Is Stepping Up Its Energy Initiatives

October 29, 2021

Cudos to PETRONAS. Thought this is advert, not an independent piece.

Dateline 2021-10-06, Forbes.

What do biodiversity conservation, enabling education and investment in electric mobility that was shared in our last post, have in common? Well, all of these initiatives are part of PETRONAS’ efforts in demonstrating its sustainability commitment to be a responsible energy player for over two decades now.

With the unwavering desire and passion to deliver energy solutions that fuel progress in a responsible manner, PETRONAS has combined its in-house expertise with that of Malaysian institutions of higher learning and global network partners, to resolutely pursue hydrogen production, and invest in technology venture funding.

Malaysia’s Petronas plans to scale up CCS at Kasawari gas field

October 28, 2021

I learnt a term from the Interwebs, paraphrasing (it applied to bodyweight control) “Calorie control begins in the kitchen” How about gomen shelf the CCS, and look at streamlining the kitchen? Imagine the saman revenue.

Dateline 2021-10-06, Reuters/LeaderPost:

Malaysia’s Petronas plans to scale up a carbon capture and storage (CCS) project as part of the second phase of development at the Kasawari gas field off Sarawak, its CEO said.

The CCS project at the field, which is estimated to hold 3 trillion cubic feet of gas reserves, is key to the state energy firm’s plans to achieve net zero greenhouse gas emissions by 2050.

Petronas upstream investment approvals to accelerate

October 27, 2021

Dateline 2021-10-18, Energy Voice:

Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.

The number of final investment decisions (FIDs) made by Petronas in 2020 dropped by 70% over the previous year and is set to be down by 85% this year from the 2019 level, Rystad said in its latest report.

“Petronas has so far this year sanctioned four key projects in Malaysia and Indonesia: the Jerun, Timi and Bakau non-associated gas developments offshore Sarawak, and the Kaliberau Dalam early production system project in Indonesia,” said Rystad.