Dateline 2022-12-22, The Star:
Industry observers and analysts are of the general opinion that 2023 could be a bright year for the oil and gas (O&G) industry, by and large mirroring the outlook that local integrated O&G titan Petroliam Nasional Bhd (PETRONAS) has cast on the prospects of the sector as well as its own.
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Dateline 2022-12-22, Energy-pedia:
International Petroleum Corp (IPC) has announced that IPC’s subsidiaries, IPC Malaysia and IPC SEA Holding, have signed a letter of agreement with PETRONAS to extend the Block PM 307 Production Sharing Contract (PM 307 PSC) covering the Bertam Field, offshore Peninsular Malaysia from August 15, 2025 until August 14, 2035.
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Dateline 2022-12-22, MarketScreener:
PTTEP announces another gas discovery in Malaysia from the exploration well, Paprika-1, in Block SK410B. The discovery provides PTTEP with a further development opportunity in Northern Sarawak and supports the company’s long-term growth.
Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that PTTEP’s subsidiary PTTEP HK Offshore Limited (PTTEP HKO) commenced the drilling of Paprika -1 wildcat well in Block SK410B in July 2022. The well was drilled to a total depth of 3,348 meters and encountered gas pay in clastic reservoirs. PTTEP and partners – KUFPEC and PETRONAS Carigali Sdn Bhd, previously made a major gas discovery at Lang Lebah structure within the same block.…
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Dateline 2022-12-22, NST:
Economists believe the government’s decision to transfer full regulatory control of gas supply to the Sabah government signifies a step ahead in efforts to uphold the Malaysia Agreement 1963 (MA63).
This, they said, could also aid Sabah by giving it better knowledge and timely information on the local gas supply and demand conditions, enabling the state to set prices.
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Dateline 2022-12-13, Offshore Technology:
Sarawak Shell Berhad, a Shell subsidiary, has agreed to sell its stake in two offshore production sharing contracts (PSC) in Malaysia’s Baram Delta to Petroleum Sarawak, an exploration and production firm.
The stakes would sell for $475m, with extra payments of up to $50m between 2023 and 2024, depending on commodities prices. The deals go into effect on 1 January 2023, and the company expects the deals to be finalised in early 2023, subject to the completion of requirements such as Petronas’ regulatory approval and Petronas Carigali Sdn Bhd’s consent.
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Dateline 2022-12-12, Offshore Energy:
Perunding Ranhill Worley (PRW), a subsidiary of Ranhill, has been awarded a deal for detailed design engineering (DDE) services of a platform, which will be powered by renewable energy and deployed at a Shell-operated gas project offshore Malaysia.
Ranhill disclosed last week that Perunding Ranhill Worley was awarded a contract for detailed design engineering (DDE) services, including follow on engineering (FOE) of a fixed solar-powered offshore platform, for the Sarawak Shell Berhad-operated Rosmari-Marjoram gas project. Situated 220 kilometres off the coast of Bintulu, Sarawak, this project will be powered by renewable energy.
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Dateline 2022-12-12, The Korea Economic Daily:
POSCO Holdings Inc., the holding company of South Korea’s top steelmaker POSCO, said on Monday it has joined forces with Malaysia’s energy firm Petroleum Sarawak Bhd to push ahead with a carbon capture and storage project in Sarawak, Malaysia.
POSCO International Corp., POSCO Engineering & Construction Co. and Petroleum Sarawak, more commonly known as Petros, have signed a memorandum of understanding on the CCS project, according to the Korean company.
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Dateline 2022-12-12, Reuters:
Malaysia’s state energy firm Petronas said on Monday it would work with JX Nippon Oil & Gas Exploration Corp on a joint proposal to monetise gas potential in the Bujang, Inas, Guling, Sepat and Tujoh (BIGST) fields located off the shores of peninsular Malaysia.
The BIGST fields are located off Kerteh, Terengganu in eastern Malaysia, Petronas said.
Carbon capture and storage (CCS) technology will be key to monetising the fields as they contain high carbon dioxide, Petronas said, adding that it will be the first CCS project in Peninsular Malaysia.
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Dateline 2022-12-07, Offshore Energy:
Petronas Carigali (PCSB), a wholly-owned subsidiary of Malaysia’s state-owned energy giant Petronas, has made a new oil and gas discovery in Block SK 306, offshore Malaysia.
Petronas announced this oil and gas discovery at the Nahara-1 well in Block SK 306 on Wednesday and explained that PCSB is the operator of the block, with 100 per cent participating interest in its Production Sharing Contract (PSC).
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Why not reduce at the source? Because you can’t make a profit.
Dateline 2022-11-29, Upstream:
Malaysia’s national upstream company Petronas Carigali has taken the final investment decision on its Kasawari carbon capture and storage (CCS) — Kasawari phase two — development offshore Sarawak, East Malaysia.
The CCS project, located in Block SK 316 about 200 kilometres offshore Bintulu, is expected to reduce carbon dioxide volumes emitted via flaring by 3.3 million tonnes of CO2 equivalent annually, making it one of the largest offshore CCS projects in the world.
Petronas Carigali’s chief executive Hasliza Othman said: “The FID marks a crucial stage in the progress of CCS solutions.
“This project is expected to become the catalyst in achieving end-to-end CCS capability development within Petronas and the first step in unlocking Malaysia’s potential as a regional CCS solutions hub.”
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Wata - Malaysian Oil and Gas Engineer 