Tell me why nearshore is a specific thang?
Dateline 2021-12-01, Upstream:
Malaysian state-run oil and gas giant Petronas has dished out two front-end engineering and design contracts for a nearshore floating liquefied natural gas project in Sabah, East Malaysia.
Petronas revealed on Wednesday that it had awarded FEED contracts on the project to Italy’s Saipem as well as to a consortium involving Japan’s JGC and South Korea’s Samsung Heavy Industries.
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Dateline 2021-11-30, UO:
PTTEP has scored another exploration success offshore Sarawak, Malaysia, with its second consecutive discovery well in Block SK417.
The first discovery well — Dokong-1 — was announced in February, hitting more than 80 metres of pay in a gas column.
Provisional results of the second well — Nangka-1 — were announced on Tuesday by the Malaysian national oil company Petronas which partners PTTEP in SK417 with a 20% interest.
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Dateline 2021-11-30, Reuters:
Malaysia’s state oil agency Petronas (PETR.UL) said on Tuesday it had discovered gas in its Nangka-1 wildcat exploration well in Block SK417, located in the shallow waters of Baram Province.
“The Nangka-1 well was successfully drilled to a total depth of 3,758 metres in September 2021. The sweet gas was discovered in the Middle to Late Miocene Cycle VI clastic reservoirs, further validating the hydrocarbon potential in the surrounding areas,” the company said in a release.
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Dateline 2021-11-29, FMT:
Oil royalty payments depend on agreements between states and the federal government and have nothing to do with territorial waters, said former minister Zaid Ibrahim.
The former law minister said this in response to finance minister Tengku Zafrul Aziz’s remarks that there would be no oil royalty payment to any state in the peninsula, including Kelantan.
In a written reply to the Dewan Rakyat, Tengku Zafrul had said although petroleum production was being carried out close to Kelantan, it was taking place outside the state’s waters. He added that Kelantan would continue to receive “wang ehsan” (goodwill payment) for petroleum produced off its coast.
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And history repeats itself, I think it was the exact same quote back then.
Dateline 2021-11-29, FMT:
There is no such thing as the payment of “wang ehsan” (compassionate money) to states under the Petroleum Development Act, says Tengku Razaleigh Hamzah, founding chairman of Petronas.
The veteran politician said the agreement between Petronas and the respective state governments was for the oil company to pay the states 5% in cash payments in exchange for them vesting their hydrocarbon or oil and gas rights in Petronas.
There was no mention of any wang ehsan in the Act’s vesting deed, he maintained, while the 5% figure came out of calculations performed by former Sarawak chief minister Abdul Rahman Ya’kub, which was jointly agreed upon by the states and Petronas.
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Dateline 2021-11-26, FMT:
The Kelantan state government has expressed disappointment with Putrajaya’s confirmation that Petronas will not be paying any oil royalty to the state.
Finance minister Tengku Zafrul Aziz had said yesterday that there will be no oil royalty payment to any state in the peninsula, including Kelantan.
He said Kelantan would continue to receive “wang ehsan” (goodwill payment) for petroleum produced off its coast.
Kelantan deputy menteri besar Mohd Amar Nik Abdullah said Tengku Zafrul’s announcement, which was published in HarakahDaily, was shocking.
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Dateline 2021-11-18, The Chemical Engineer:
PETROFAC has been awarded a US$96m contract by Petronas to build a new gas plant onshore at Tanjung Kidurong in Bintulu, Malaysia.
The engineering, procurement, construction and commissioning (EPCC) contract is for a new 390m ft3/d plant known as the Bintulu Additional Gas Sales Facilities 2. The development includes a process and utilities unit, effluent treatment unit, metering skid, fire water tank, pumps, flare system and main substation building. It will also conduct brownfield modifications and tie in with the existing plant located in Bintulu, Sarawak.
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I’ve been out circulation, when did this energy crunch start?
Dateline 2021-11-17, NST:
The world is facing an energy crisis where the demand for energy commodities exceeds supply and this is causing volatility in short-term pricing with global spot prices for natural gas reaching the highest level this year.
However, the impact of the energy crisis on Malaysia has not been alarming.
On October 5, 2021, in the Dewan Rakyat, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed assured that Malaysia has managed its energy security despite the price increase in energy commodities, namely coal and liquefied natural gas (LNG).
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Dateline 2021-11-15, Energy Voice:
China has again been contesting Malaysian oil and gas activity in the South China Sea. This time Beijing has been targeting Thai state-backed upstream player PTT Exploration & Production’s (BKK:PTTEP) upstream drilling operations offshore Sabah.
A Chinese survey ship, the Da Yang Hao, was sent to waters within Malaysia’s continental shelf to carry out its own survey. “The apparent trigger for its deployment were the activities of the West Capella, a drillship no stranger to oil and gas standoffs, contracted since July by Thailand’s PTTEP for drilling in the Siakap North Petai oil field in Malaysia’s Block K,” the Asia Maritime Transparency Initiative (AMTI) said in its latest report.
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Umm, does that mean I won’t get those million dollar contracts this year? Hey, and 3 quarters of profits is 3 quarters more than me. Could I get some POs from you, dear reader?
Dateline 2021-11-11, The Edge:
SAPURA Energy Bhd is arguably the biggest Malaysian casualty of the meltdown in oil prices more than five years ago.
Despite oil prices having gained more than 60% year to date and Brent Crude breaching the US$85 per barrel band in late October, the company has not been faring well. In the last 10 quarters, it managed to muster only three quarters of profits, and for its second quarter ended July (2QFY2022), it suffered a net loss of RM1.52 billion from RM747.11 million in revenue. In the corresponding period a year ago, it chalked up net profits of RM23.74 million from RM1.22 billion in revenue.
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Wata - Malaysian Oil and Gas Engineer 