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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Leave a Comment » | oil and gas | Tagged: COVID19, Labuan, Petronas | Permalink
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.
Leave a Comment » | oil and gas | Tagged: Bertam, IPC | Permalink
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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Leave a Comment » | oil and gas | Tagged: Lokan, Petronas, South East Collins, Vestigo | Permalink
Posted by Wata
May 24, 2021
Dateline 2021-04-27, Straits Times:
Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.
The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a “double whammy”.
Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.
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Leave a Comment » | investment, oil and gas | Tagged: OGSE | Permalink
Posted by Wata
May 21, 2021
Dateline 2021-04-23, Reuters:
Malaysia’s government on Wednesday enacted a new emergency law allowing it to use funds derived from oil and gas contributions to pay for vaccine procurement, as it looks to ramp up its COVID-19 vaccination programme.
The ordinance will allow the government access to use the 17.4 billion ringgit ($4.23 billion) parked under the national trust fund to secure vaccines “for an epidemic of any infection disease”, according to the law published in the federal gazette.
The trust fund, which takes contributions from state energy company Petronas (PETR.UL) and others involved to petroleum exploitation, was set up to support infrastructure and other development and provide federal loans to Malaysia’s states.
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Posted by Wata
May 20, 2021
Dateline 2021-04-21, OE:
Malaysia’s Petronas has awarded the Production Sharing Contract (PSC) for the South East Collins Cluster under the newly introduced Small Field Asset (SFA) PSC terms, to Vestigo Petroleum.
The South East Collins Cluster, located in water depths of 42 to 45 meters 70km northeast of Labuan Island, comprises two fields, South East Collins and Lokan which were discovered in the 1980s. With a combined estimated recoverable of 10MMstb, the South East Collins Cluster is now primed for development under the new SFA PSC terms, Petronas said.
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Leave a Comment » | oil and gas | Tagged: Collins Cluster, Lokan | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 