May 21, 2018
Dateline 2018-03-21, Upstream Online:
Malaysia’s national oil company Petronas has delayed the potential divestment of a significant stake in Block SK 316 offshore Sarawak, East Malaysia that is home to the giant Kasawari gas field.
There has been a delay in the process, PTTEP President Phongsthorn Thavisin said on the sidelines of OTC Asia. The Thai national upstream player is still interested in coming on board this gas-rich acreage and would “normally be interested in 10% to 20% of such a prize, added Phongsthorn.
Petronas is set to this year decide whether to line up a partner for Block SK 316 or whether to solely pursue the exploitation of Kasawari, which has an estimated recoverable resource of 3 trillion cubic feet of gas.
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Posted by Wata
May 20, 2018
Dateline 2018-03-21, Reuters:
Mubadala Petroleum, Petronas and Royal Dutch Shell will spend more than $1 billion to develop Malaysia’s Pegaga gas field, aiming to produce gas by the third quarter of 2021, Abu Dhabi-based Mubadala said on Wednesday.
The project in Block SK320, located in the Central Luconia province, offshore the East Malaysian state of Sarawak, will now proceed to the construction and installation stage, the company said in a statement.
Mubadala is the operator of the block with a 55 percent share while Petronas Carigali holds a 25 percent interest and Sarawak Shell holds 20 percent.
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Posted by Wata
May 19, 2018
Deadline 2018-03-15, FMT:
State rights activist Zulfaqar Sa’adi has voiced concern over the possibility that the federal government will eventually claim to be the rightful owner of oil and gas resources belonging to Sarawak.
Speaking to FMT, he said he feared that Putrajaya would interpret its right of sovereignty over the states of the federation as meaning that it could claim property rights as well.
That would be erroneous, he said, citing Section 75 of the Malaysia Agreement 1963 (MA63) and Article 12 (1) of the Sarawak constitution.
He said the documents explicitly showed that lands, including those covered by water, as well as everything attached to them, were state property.
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Posted by Wata
May 18, 2018
Dateline 2018-03-05, The Edge:
Petroliam Nasional Bhd (Petronas) is set to increase its capital expenditure for the first time in three years on the back of the recovery in oil prices and its ongoing cost-efficiency drive that boosted profit in 2017 to a level not seen since 2013.
Petronas will spend “around RM55 billion” this year on capex with a higher commitment to upstream development. The national oil firm spent RM44.5 billion on capex in 2017 — down 11.7% from 2016 — with a focus on the downstream sector.
“We are in a stronger position to execute our long-term growth strategy,” president and CEO Tan Sri Wan Zulkiflee Wan Ariffin — better known as Wan Zul — told reporters at the group’s 2017 results briefing last week.
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Posted by Wata
May 17, 2018
Isn’t this kinda low on the scale of rates for bribes in O&G? And why aren’t they releasing names?
Dateline 2018-03-11, Malay Mail:
The magistrate’s court here today extended the remand order of an oil and gas company engineer by four days, beginning tomorrow, to facilitate investigations into alleged soliciting and accepting bribes amounting to RM361,000.
Magistrate Mohd Dinie Syazwan Ab Syukor allowed the remand extension until March 15 after the Malaysian Anti-Corruption Commission filed an application in relation to the matter.
At the same time, the magistrate allowed the suspect’s wife to be released on a RM30,000 bail in one surety.
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Posted by Wata
May 15, 2018
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Posted by wahidahzakaria
May 14, 2018
What’s a petroleum university? A university where the labs include a fully function wellhead? And Miri is a resort city?
Dateline 2018-03-11, Borneo Post:
Being home of the first oil well in the country, Miri should have a petroleum university and an information communication technology (ICT) university built here.
Chairman of UPP Pujut branch Bruce Chai said Miri had vast human capital to support such institutions to be sited here.
“This Resort City has such great human capital with diverse fields of knowledge that have been nurtured over 100 years or so as the oil and gas centre of Malaysia.
“Our economy and business culture has always been a step ahead of most towns and cities in Malaysia because of the transfer of technology and knowledge brought about by the industry,” he said when contacted yesterday.
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Posted by Wata
May 13, 2018
Dateline 2018-03-10, FMT:
While the Sarawak government should be lauded for re-asserting statutory regulatory control over its oil and gas resources, Sarawakians ought to be wary and fully understand the implications of the recent announcement, says Jeffrey Kitingan.
The president of Sabah opposition party, Star, said in a statement today that he agreed with Sarawak Chief Minister Abang Johari Openg on the constitutional right of the Borneo states over its natural resources, including oil and gas, as per the State List in the 9th Schedule of the federal constitution.
“Land is clearly a state matter and the development of these resources by the federation under item 8(j) of the Federal List is subject to Item 2(c) of the State List.
“Under Section 24 of the Sabah Land Ordinance (Cap. 68), all minerals, precious stones and mineral oils which includes petroleum and gas belongs to the Sabah government,” the Bingkor assemblyman said.
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Posted by Wata
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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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 