June 24, 2021
Dateline 2021-05-12, The Star:
The oil and gas (O&G) industry is yet to fully recover from the great oil bust of 2014 when the Covid-19 pandemic started in late 2019.
The oil and gas, services and equipment (OGSE) sector has not been spared from the pressure of a low oil price environment that has persisted since 2014.
Apart from the pandemic, value creation was further depressed with the emergence of two other major events last year namely the Opec+ disagreement on supply cuts and the storage shocks amid an oversupply in the oil market.
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Posted by Wata
June 23, 2021
Dateline 2021-05-XX, Vulcan Post:
“Sad is an understatement,” described Sofia who was laid off from her job at an international oil and gas company last year. Worldwide lockdowns to curb the spread of COVID-19 had caused a downturn in demands for oil, which led to Sofia’s fate as a former Field Engineer.
“I was committed to my work and spent longer days working (even on weekends) rather than spending time at home. For someone who was career oriented, it was not easy to face the reality of being unemployed,” she added.
In the back of her mind though, the 27-year-old always knew that fieldwork wasn’t for her. Despite working a STEM graduate’s dream job, the sun’s scorching heat and the laborious tasks of handling 60-inch sledgehammers became too much for her.
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Posted by Wata
June 22, 2021
Dateline 2021-05-10, Arab Times:
The CEO of the Kuwait Foreign Petroleum Exploration Company (KUFPEC) Sheikh Nawaf Saud Al-Sabah told MEED Magazine that the company is negotiating with the Malaysian government on the financial terms related to a major gas discovery off the coast of Malaysia, reports Al-Anba daily. In February, KUFPEC announced its largest ever discovery of hydrocarbons by drilling a well about 90 kilometers off the Malaysian coast. In an interview with MEED Magazine, Sheikh Nawaf explained that the work on the initial engineering designs for the development of the well will begin once the financial terms are agreed upon.
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Posted by Wata
June 21, 2021
Dateline 2021-05-XX, Singapore Business:
Ensuring a safe working environment tops the agenda of responsible companies around the world as they pursue their business KPIs. Using innovative solutions, they strive for zero accidents, lowest occupational health hazards and less downtime to have secure and satisfied employees.
For the last two years, PETRONAS Digital Sdn. Bhd. (PDSB) has embarked on a web-based initiative to foster safer workplaces across the 50 countries where it works — to date, identifying 400,000 unsafe acts or conditions that might lead to serious injuries or incidents and 22,000 potential fatigue-related incidents. The initiative had earned them a trophy at the recently concluded Malaysia Technology Excellence Awards (MTEA), under the Analytics – Oil & Gas category.
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Posted by Wata
June 18, 2021
Can I be an ‘industrial backroom proirity liner’?
Dateline 2021-05-09, Malay Mail:
State-owned oil and gas giant Petroliam Nasional Bhd (Petronas) has confirmed that some of its staff members have received Covid-19 vaccines under phase one of the National Immunisation Programme (NIP).
In a statement, Petronas said these staff members were considered “industrial frontliners” from Labuan who needed to be vaccinated as there was a cluster in Labuan.
“Petronas confirms that a number of its personnel in Labuan have been vaccinated as part of Health Ministry’s prescribed measures to contain the spread of Covid-19 transmission on the island.
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Posted by Wata
June 17, 2021
Dateline 2021-05-08, Borneo Post
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THOSE in the energy sector, specifically in oil and gas (O&G), are given the extra scrutiny when it comes to ESG practice.
Despite the current downturn and uncertainty brought on by Covid-19, oil and gas companies continue to make progress toward a lower-carbon future, in line with the broader energy transition taking place across the entire energy, resources, and industrials sector.
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Posted by Wata
June 15, 2021
Dateline 2021-05-05, Offshore:
International Petroleum Corp. (IPC) has assumed full control of the Bertam field offshore Peninsular Malaysia.
Last month the company acquired Petronas’ 25% participating interest at no cost, although IPC has agreed to take on associated future well decommissioning obligations.
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Posted by Wata
May 28, 2021
Dateline 2021-05-04, Argus Media:
A drilling rig has sunk offshore eastern Malaysia while it was being prepared for work at a ConocoPhillips-operated exploration block.
The NAGA 7 tilted “due to soil rapid penetration” at the WL4-00 site according to its owner, local firm Velesto Energy. All 101 personnel on board were evacuated, and the rig subsequently sank.
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Posted by Wata
May 26, 2021
Dateline 2021-04-30, Offshore:
Jadestone Energy has agreed to acquire various field interests offshore Peninsular Malaysia from SapuraOMV Upstream for $9 million.
The transaction would give Jadestone a 70% operated interest in the PM329 PSC, containing the East Piatu field, and a 60% operated stake in the PM323 PSC, containing the East Belumut, West Belumut, and Chermingat fields.
Combined net production is 6,000 boe/d, and the associated reserves (net to Jadestone) are 12.5 MMboe, including estimates based on further development activities.
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Leave a Comment » | oil and gas | Tagged: Chermingat, East Belumut, East Piatu, Jadestone, SOMV, West Belumut | Permalink
Posted by Wata
May 25, 2021
Dateline 2021-04-26, Offshore:
Petronas has awarded Vestigo Petroleum a production sharing contract (PSC) for the shallow-water South East Collins Cluster, under Malaysia’s new Small Field Asset terms.
The cluster, in water depths of 42-45 m (138-147 ft), 70 km (43 mi) northeast of Labuan Island, comprises the South East Collins and Lokan fields discovered in the 1980s, with combined recoverable reserves estimated at 10 MMstb.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 