DAP: Sarawak must bring 2 Acts on oil and gas rights to court

May 12, 2018

Dateline 2018-03-10, FMT:

A Sarawak DAP leader says the only way for Sarawak Chief Minister Abang Johari Openg to redeem himself following his claim that the Petroleum Development Act 1976 (PDA) and the Territorial Sea Act 2012 (TSA) are null and void is by taking the issue to court.

Irene Mary Chang, who is Sarawak DAP director of women’s affairs’ bureau, said it was wrong of Johari to say that these two laws are not applicable in Sarawak anymore following his announcement on Tuesday that the state would assume full regulatory authority over the upstream and downstream aspects of the oil and gas industry in Sarawak.

“To declare these two legislations as null and void and therefore have no application in Sarawak, the CM has to first bring the matter before the Courts of Law for such a declaration.

“And until the Courts declare as such, the acts are in force and are applicable in Sarawak. To say otherwise is to give people false hope and the state government owes it to the people to set the matter right,” she said.

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Petronas: We have three-pronged strategy

May 11, 2018

Why does this feel like the sharp end of a trident?

Deadline 2018-01-26, The Star:

Petroliam Nasional Bhd (Petronas) says it has a three-pronged strategy this year which will help it focus on growth.

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said the national oil and gas firm wants to expand its core business as well as diversify but is mindful of its cash position.

“One, we are still looking at our cash. Secondly, we want to expand our core business. We are a fully integrated company and I believe in this business model.

“We are looking at ways to extend the value chain of our business,” Wan Zulkiflee was quoted as saying in an interview at the World Economic Forum here.

“Thirdly, we are looking into things that are new to Petronas. For example, we are looking at the potential of being involved in renewables such as solar and other new energies,” he said.

He said a congruence of many events, particularly the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec voluntary production cuts, has helped prop up oil prices.

“We also see some supply disruption in Libya. The demand side is looking good globally and we expect this to continue in the next few years.”

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Business as usual for O&G firms in Sarawak for now

May 10, 2018

Dateline 2018-03-13, Malaysian Reserve:

Oil companies operating in Sarawak are expected to abide by the agreements signed with Petroliam Nasional Bhd (Petronas) for oil and gas (O&G) activities, despite the East Malaysia state’s hydrocarbon resources ownership claims.

Under the Petroleum Development Act 1974 (PDA), oil exploration and hydrocarbon related activities will require the approval from the state-owned energy company.

But resource-rich Sarawak’s announcement to assume control over its natural resources has triggered questions over the past approvals received by oil companies. Petronas is believed to have some 60 oilfields in Sarawak with an average production capacity of 850,000 barrels a day, either produced by the energy company or through production sharing contracts (PSCs).

Petronas partners exploration and production (E&P) companies like Royal Dutch Shell plc, JX Nippon Oil and Gas Exploration Corp, and Murphy Oil Corp. Shell was the first company to explore O&G in Sarawak.

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Clarity on Petros vital

May 9, 2018

Especially for us boutique service providers:

Dateline 2018-03-09, NST:

SARAWAK’s state oil corporation, Petroleum Sarawak Bhd (Petros), was officially launched earlier in the week by Chief Minister Datuk Patinggi Abang Johari Abang Openg in Kuching.

With a symbolic digital signature, the state chief executive finally made concrete a collective state aspiration to be an active player in the oil and gas sector, which Abang Johari described as strategically important to the socio-economic development objectives of Sarawak.

He marked the symbolic launch with a significant gesture in handing over to Petros chairman Tan Sri Hamid Bugo a state government licence, granting the new oil corporation the rights to mine oil and gas in Sarawak.

Abang Johari said: “Petros must build on its strategic presence in Sarawak to grow and deliver sustainable economic benefits via its business model, while, at the same time, safeguarding the interests of our state and its resources.”

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IGL Training – 2018-07 HAZOP Training for Team Members

May 8, 2018

IGL SERVICES SDN BHD is glad to invite you to take part in our training course that listed below:

HAZOP Training for Team Members

Date:       3rd July 2018

Trainer:   Ir Razmahwata Mohd Razali

Venue:    Hilton, Petaling Jaya

For Further Information & Registration: Visit here

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Saturday Star 2018-05-05 – Job Opportunities

May 7, 2018

Happy ‘who shall I vote for’ week. IGL has pivoted into training, so book your seats now.

We’re thinking of republishing Young Turks of PETRONAS, but it’s a minimum 500 book printing run. Do I have enough interested persons to purchase?

Donate to your favorite charity (me), buy my recommendations, or through my Amazon store. Or get the Young Turks series (3 books until I can get YTP republished). Where are those corporate sponsors? Or throw donations at me, my camera dive case flooded, and I need a new replacement. Heck, if you want to send me a Canon 5D Mk III plus dive case, I will not say no.

  • I have a feeling that The Star isn’t the preferred O&G job recruitment portal now, and they have moved adverts to another online presence (I bought a dead tree edition this week). I see more adverts via social media. What do you think, is it a step change that the papers need to embrace?
  • I’m looking for jobs for 3Q2018. Send me your POs.

Food choice of the week? Apparently, IEM sponsonsed meals

This week, may I suggest you have a peek at Dakwah Corner? They have branches in Subang Parade, PJ Section 14, Ampang Park (okay, forget about the Ampang Park branch)

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Sarawak’s claim on oil resources could change sector’s dynamics

May 6, 2018

Dateline 2018-03-08,  The Malaysian Reserve:

The Sarawak government’s announcement that it is taking full regulatory control over its oil and gas (O&G) resources could change the dynamics of the sector which has been for more than four decades regulated under one law.

The Petroleum Development Act 1974 (PDA) gave the exclusive rights of exploring, exploiting, winning and obtaining petroleum, whether onshore or offshore in Malaysia, to state-owned oil company Petroliam Nasional Bhd (Petronas).

Resource-rich Sarawak announced it would assume full regulatory authority over the O&G industry upstream and downstream activities in the state by July this year.

The announcement was made by Sarawak Chief Minister Datuk Patinggi Abang Johari Tun Openg when he launched Petroleum Sarawak Bhd (Petros) in Kuching on Tuesday.

Abang Johari was reported as saying that anyone and companies involved in the O&G industry in the state must have the necessary licences, permits, leases and approvals required either under the state’s Oil Mining Ordinance, or the Gas Distribution Ordinance.

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Sarawak’s Humble Journey In The O&G Industry

May 5, 2018

Dateline 2018-03-07, MalaysianDigest:

Sarawak’s humble journey in the oil and gas (O&G) industry started with the commissioning of the first oil well, known as the “Old Lady” in Miri, on Dec 22, 1910.

Sarawak’s first oil refinery was built by Shell at Tanjung Lobang, Miri, and subsequently moved to Lutong, Miri.

In 1920, the Rajah issued what was known as “the Shell Concession Order”, designating the area in Miri for the exploration and mining of oil by Sarawak Oilfields Limited, owned by Shell.

In the 1930s, the Dutch and the British began their exploration for oil offshore Baram.

In 1952, the Sarawak colonial government issued an oil mining lease in the form of a deed to Sarawak Oilfields, giving the company the liberties, right and privileges to explore and mine all “the petroleum lying or within, under or throughout the territory comprising the colony of Sarawak, including lands beneath all territorial waters”.

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UPDATE 2-Malaysia’s Petronas ramps up spending as profit surges

May 4, 2018

When will it spill down to us bottom feeders?

Dateline 2018-03-02, Reuters:

Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, pledged on Friday to ramp up its growth and spending plans this year following a sharp rise in profits, even as it cautioned about the sustainability of higher oil prices.

Petronas, like other oil majors, has taken a hit from lower oil prices, but sharp cost cuts – along with some recent stability in oil prices – helped the company boost profits and margins despite lower production.

Net profit for the fourth quarter ended December rose to 18.2 billion ringgit ($4.65 billion) from 11.3 billion ringgit in the same quarter last year, while revenue rose 13.8 percent to 61.8 billion ringgit.

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Analysts: 2018 a better year for O&G sector, but not its workers

May 3, 2018

Hah!

Dateline 2018-03-08, FMT:

The oil and gas sector will fare better in 2018, on the back of higher oil prices.

But this may not translate to many new jobs or higher salaries, say industry sources.

Speaking to FMT, one oil and gas analyst said while recent developments at home and abroad were encouraging, companies were likely to remain cautious with spending.

“I estimate that throughout 2018, the oil price will be between US$60 and US$65 per barrel. Petronas is basing its budget on a more conservative US$52 per barrel,” said the analyst who spoke on condition of anonymity.

“The fact that the oil price now sits above the US$60 per barrel mark brings some ‘sunlight’ into the sector.”

Still, he said, the industry, which in recent years saw massive cutbacks and retrenchments due to plummeting prices, was a long way from full recovery.

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