From the Edge: Petronas licence needed for O&G upstream biz in Malaysia

November 3, 2011

But, but players involved in the new risk sharing contracts have engaged fabricators and design houses who not only don’t have PETRONAS licenses, heck they aren’t even in Malaysia. Seen how busy a neighboring country is? You know, the one which has hired a past PETRONAS president?

Dateline 2010-10-28:

Petroliam Nasional Bhd has categorically stated that all companies wishing to start or continue any business or service related to Malaysia’s oil and gas upstream operations and activities must apply for a licence from the national oil company.

Petronas said on Friday, Oct 28 that the policy, enforced under the regulations following the enactment of the Petroleum Development Act, 1974, has not changed, and “applies to all local and foreign companies, service providers and suppliers”.

It was responding to recent media reports claiming that Petronas had decided “to do away” with its licensing system for companies involved in Malaysia’s upstream O&G industry.

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From Free Malaysia Today – Dormant company gets RM5.8b LNG project

July 19, 2011

I’m dormant, why didn’t they pick me?

Dateline 2011-07-02:

The Perak DAP today lodged a report against the Barisan Nasional state government for misusing its power in awarding a RM5.8 billion project to a RM100 dormant company to import liquified natural gas (LNG) from Qatar.

The project is located in Segari, Manjung.

The report was lodged with the Malaysian Anti-Corruption Commission (MACC).

“This is a clear case of misuse of power by BN in giving this RM5.8 billion project to the RM100 dormant company named Atigas Technology Sdn Bhd,” party state deputy chief V Sivakumar said at a press conference. Also present were two other Pakatan members.

…

 

3 Comments | business opportunity, Malaysia, Malaysian election, oil and gas | Permalink
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From The Star – Bumi Armada’s shares in high demand

July 17, 2011

Change ‘shouldn’t’ to ‘will pay triple for to’, remove the subsidies altogether, create a zippy (doesn’t have to be efficient) public transport network, and I’ll be happier

Dateline 2011-07-02:

A cleverly-crafted fund raising exercise, offshore oil and gas services provider Bumi Armada Bhd’s initial public offering (IPO) has created an “artificially high demand” for the company’s shares amongst institutional investors in lieu of its flotation onto the Main Market of Bursa Malaysia this month, analysts and market observes say.

Market talk has been rife that Bumi Armada’s IPO has garnered strong interest from foreign and local institutional investors, with sources disclosing that the company saw its institutional offer 5.6 times oversubscribed on the first day its bookbuilding exercise, which had commenced on June 28 and is scheduled to close next Friday before the institutional price is determined on July 11.

…

You can subscribe to an online version of the paper at the e-browse site. The site technology is a bit out of date. You have to use IE7-8 to pay for a subscription, and there is no app. How will I be able to read The Star on my Nokia N95?

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From Business Times – Hibiscus Petroleum to only venture into E&P

July 16, 2011

Dateline 2011-06-30:

Hibiscus Petroleum Bhd will utilise its initial public offering (IPO) proceeds of between RM150 million and RM300 million to acquire stakes in one to three oil and gas exploration and production (E&P) companies.

“We intend to only venture into E&P opportunities, from low to moderate risk onshore opportunities and low risk shallow water offshore opportunities that have high upside potential,” said Managing Director Dr Kenneth Pereira after launching the company’s IPO prospectus here today.

Hibiscus Petroleum, the first special purpose acquisition company (SPAC) to be listed on Bursa Malaysia, is scheduled for listing on the Main Market on July 25.

…

 

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From Business Times – Sweden’s Lundin gets majority interest in block

June 28, 2011

Dateline 2011-06-14:

Sweden’s Lundin Petroleum has won a majority working interest to operate Block PM307 offshore Peninsular Malaysia, further strengthening its presence in the country’s oil and gas industry.

Its subsidiary, Lundin Malaysia B.V., has entered into a deal with Petronas Carigali Sdn Bhd, the exploration and production arm of Petroliam Nasional Bhd (Petronas) early this month.

Under the deal, Lundin bought a 75 per cent interest and operatorship, while Petronas Carigali holds the remaining 25 per cent interest.

With Block PM307, Lundin now operates a total of six blocks in Malaysia. The blocks in Peninsular Malaysia are PM307, PM308A and PM308B, which are contiguous.

The blocks in Sabah consist of SB303, SB307 and SB308, which are also contiguous

…

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From Bernama – Anifah Takes PETRONAS to Task

May 7, 2011

Out of curiosity, is there some resurgence of East Malaysia citizens who wish to partake in the nation’s development closer to home?

Dateline 2011-04-30:

Foreign Minister Datuk Seri Anifah Aman took Petronas to task Saturday, saying that the national oil corporation did not give opportunities to the Bumiputera community in Sabah.

He said the only thing to show that Petronas was open to working with local companies was a memorandum of understanding (MOU) it signed with the Malay Chamber of Commerce Malaysia (DPMM) with regard to its oil and gas project in Kimanis.

Even then, it was not good enough as the MOU was not legally binding and therefore not enforceable, he said when opening the DPMM Sabah chapter’s 13th annual general meeting here Saturday.

Anifah noted that Petronas, upon embarking on the multi-billion ringgit project, had sidelined local companies and engaged concessionaries from outside Sabah.

…

1 Comment | engineering, Malaysia, oil and gas | Permalink
Posted by Wata

From Bloomberg – Petronas Shut Refinery Because of Power Loss

May 6, 2011

Loss of power, loss of refinery, loss of fuel … loss of power?

Dateline 2011-04-27:

Petroliam Nasional Bhd, Malaysia’s state-owned oil company, said its Melaka refinery was forced to shut yesterday after losing power from the national grid, the Malaysian news agency Bernama reported.

PETRONAS, as the company is known, is resuming operations, according to Bernama, which cited a statement by the company.

A call to Petronas’s head office in Kuala Lumpur wasn’t answered when Bloomberg News phoned today.

…

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From Upstream Online – MMHE denies Sime asset talks

May 5, 2011

Ah, did they or didn’t they?

Dateline 2011-04-27:

The heavy engineering unit of state-run Petronas has denied rumours it is in talks to buy oil and gas assets from fellow Malaysian company Sime Darby.

A spokesperson for Malaysia Marine and Heavy Engineering (MMHE) told Upstream today that there was no basis to reports the company was looking to buy any assets from Sime.

When questioned if the companies had entered any form of discussions over the assets the spokesperson simply replied “not at the moment.”

However there is little doubt that MMHE would welcome discussions to expand its current yard capacity.

…

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From Upstream Online – PETRONAS gets rights to border field

May 4, 2011

Does this strengthen Kelantan’s compensation claim?

Dateline 2011-04-25:

PETRONAS said it signed a unitisation agreement with the authority for the Bumi field in Block PM 301 and the Bumi South field in Block A-18 that firms up an earlier agreement inked in 2008.

“The unitisation agreement gives PETRONAS rights to the reserves in the unitised area, which has an estimated ultimate recovery of 1.252 trillion standard cubic feet of gas,” PETRONAS said in a statement.

…

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From Reuters – Malaysia’s Sime unit bags $384 mln fabrication job

May 3, 2011

Dateline 2011-04-25:

says unit Sime Darby Engineering Sdn Bhd has won a 1.15 billion ringgit ($384.3 million)contract to contruct topside facilities for the Kebabangan Northern Hub Development project off the coast of Malaysian Borneo state of Sabah.

The project is managed by Kebabangan Petroleum Operating Company, a joint venture between Malaysia’s state oil firm Petronas , ConocoPhillips’s local unit and a subsidiary of Shell (RDSa.L).

…

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