August 31, 2021
Risk Transfer Incentive Contract, wot?
Dateline 2021-08-09, Malaysian Reserve:
Uzma Bhd through its wholly-owned subsidiary Uzma Engineering Sdn. Bhd. secured a Work Order Award from PETRONAS Carigali Sdn. Bhd. for the Provision of a Risk Transfer Incentive Contract (RTIC) for Idle Wells Reactivation and Production Enhancement Services for Sabah assets.
In a statement today the company said the contract duration is for three years beginning 13 July 2021 and ending on 12 July 2024 with an estimated contract value of RM29 mil.
The job scope of the contract involves deploying well intervention services to perform idle well reactivation activities at Offshore Sabah.
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Posted by Wata
August 10, 2021
Dateline 2021-08-01, Upstream:
A Sarawak lawmaker has reportedly blamed national oil company Petronas for a new coronavirus outbreak in the state’s oil and gas town Bintulu in Malaysia.
Bintulu Member of Parliament Tiong King Sing claimed that the potentially fatal Covid-19 was found in many of those on board the Grade One Manjung 7 (GOM 7), a Malaysia-flagged anchor handling vessel that had been working for Petronas.
The vessel had entered Bintulu port in Sarawak, East Malaysia in early July.
Tiong alleged that the GOM 7 had failed to carry out the compulsory 14-day vessel quarantine upon arrival as stipulated by the State Disaster Management Committee (JPBN) and had also allowed workers to disembark or others to board during that fortnight.
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Posted by Wata
August 9, 2021
Dateline 2021-07-30, Upstream:
Petrofac has brought on stream its East Cendor oilfield on Block PM 304 offshore Peninsular Malaysia.
East Cendor is the fourth field to be exploited on the block, following Cendor, West Desaru and Irama.
The project comprises the development of a single new wellhead platform (WHP) and installation of a new 6.3-kilometre pipeline linking the field to the existing floating production, storage and offloading vessel Cendor.
Output from East Cendor is expected to peak at more than 7000 barrels per day of oil, which will further extend the economic life of Block PM 304.
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Posted by Wata
August 6, 2021
Dateline 2021-07-30, Offshore Engineer:
Malaysian oil and gas firm Petronas said Friday that Petrofac had brought online the East Cendor field in Block PM304, 40 kilometers offshore Peninsular Malaysia.
The field was developed by Petrofac as the operator and Kuwait Foreign Petroleum Exploration Company and Petronas Carigali as partners.
East Cendor is the fourth in the series of development in Block PM304, after Cendor, West Desaru, and Irama.
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Posted by Wata
August 5, 2021
A bit more clarity for yesterday’s post.
Dateline 2021-07-28:
PETRONAS has awarded Block SK437 offshore Sarawak, Malaysia to PETRONAS Carigali Sdn Bhd (PCSB), Sarawak Shell Berhad (SSB), and Petroleum Sarawak Exploration and Production Sdn Bhd (PSEP), a wholly-owned subsidiary of Petroleum Sarawak Berhad (PETROS).
Block SK437 is located to the southwest of the prolific Central Luconia province, measuring 2015 km2 in size and in water depths of up to 50 m.
SSB is the operator for Block SK437 PSC, with a 85% participating interest, while PCSB and PSEP hold 7.5% each. Both PCSB’s and PSEP’s interests are carried during the exploration phase. SK437 is a new addition to Shell’s existing interests in 15 production sharing contracts in Malaysia, of which eight are located off the coast of Sarawak, whilst the remaining seven are located off the coast of Sabah.
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Posted by Wata
August 4, 2021
Is Shell exiting, or wo’? Maybe it will exit PETRONAS , and enter PETROS?
Oo, and the page has an article titled “Petronas surrenders to Sarawak tax demands as CEO walks“
Dateline 2021-07-29, Energy Voice:
Significantly, Sarawak state-energy company Petroleum Sarawak (PETROS) will hold a minor stake in Block SK437, marking its first involvement in an offshore exploration production-sharing contract (PSC).
Shell will operate the 2,015 sq km block, which lies southwest of the Central Luconia province in waters 50 metres deep, with an 85% interest. Malaysian national oil company (NOC) Petronas Carigali and PETROS will each hold a 7.5% stake in the acreage.
Since the 1970s, significant oil and gas reserves have been discovered offshore the eastern Malaysian state of Sarawak, which have helped supply one of the world’s largest liquefied natural gas (LNG) export plants in Bintulu.
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Posted by Wata
August 2, 2021
Dateline 2021-07-26, Offshore:
Malaysia could contribute about 12% (3.1 bcf/d) of global natural gas production in 2025 from offshore projects coming onstream between 2021 and 2025, according to GlobalData.
The ‘Global Offshore Upstream Development Outlook, 2021–2025’ predicts that 2 bcf/d of gas production in Malaysia in 2025 will come from projects with identified development plans, and 1 bcf/d from early-stage projects currently in the conceptual phase but likely to be approved for development.
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Posted by Wata
August 1, 2021
Dateline 2021-07-23, The Malaysian Reserve:
FAVELLE Favco Bhd’s (FFB) contract wins are a sign of recovery for the oil and gas (O&G) sector, according to analysts.
MIDF Amanah Investment Bank stated that at least five out of the eight contracts clinched by FFB recently are for offshore activities, including the compressor system and upgrade works.
“We concur with FFB’s positive stance on recovery from the impact of Covid-19 pandemic with the vaccine rollout in the countries.
“The group will continue to be vigilant of the economic recovery, especially in the crane sector.
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Posted by Wata
July 31, 2021
Dateline 2021-07-22, Reuters:
Royal Dutch Shell (RDSa.L) launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.
The Anglo-Dutch company announced in March that it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts which are operated by Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas.
The sale process for the two stakes, launched this month, is being run by investment bank J.P. Morgan, according to the sales document.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 