Malaysia introduces tax incentives in boost for CCS

January 12, 2023

Time for that backyard calcium carbonate generator.

Dateline 2022-10-10, Energy Voice:

Malaysia’s 2023 budget announced on Friday introduces a raft of tax incentives for carbon capture and storage (CCS) as the country aims to become a regional hub for the nascent sector.

The news will be welcomed by Malaysia’s national energy company Petronas which is pushing hard to develop the nation’s CCS industry and attract overseas partners. Malaysia has already embarked on aggressive plans to promote CCS in Southeast Asia with the goal of developing natural gas fields with high contaminant levels and decarbonising its economy simultaneously.

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Tales from the Engineering Floor – Hiring

January 11, 2023

Position
Graduate Engineer

Background
An small engineering oil and gas company (IGL Services Sdn Bhd), http://www.igl.com.my is looking for graduate(s). The role will be to support the company in both technical and administrative roles.

Qualification
A background in chemical engineering. Final GPA 3+.
Self starter.
Good communication skills, either Bahasa or English. Good document writing skills are essential.
Motivated individual, with firm analytical and logical skills.

Location
Will be based in or around Puchong Prima, Selangor.

Functional Position
The candidate will be reporting to lead engineer.

Remuneration
EPF, Socso and mandatory contributions

Notes
As small company, roles will be assigned per business requirements.
An technical written test will be conducted as part of the interview process.

Contact: enquiries@igl.com.my with subject “Graduate 2023-01”
Closing date: 2023-1-31

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LETTER | Malaysia’s O&G assets lost at South China Sea

January 11, 2023

Dateline 2022-10-08, Malaysiakini:

Ongoing debate and disputes over the territorial waters of the South China Sea (SCS) may now have escalated to the point where Malaysia is set to lose out on its oil and gas assets in the region.

As one of the main economic contributors to the country, Malaysia cannot afford to lose these assets and there is a need for a “wake-up call” for Malaysia to aggressively act now and defend its oil and gas assets at the SCS region rather than taking a “soft diplomatic” approach over the situation.

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Petronas pipeline leak hit part of Malaysia’s LNG exports

January 10, 2023

Dateline 2022-10-10, Reuters:

Contracts to export Malaysian liquefied natural gas (LNG) that sources gas from the northern Borneo state of Sabah are under force majeure following a pipeline leak, trade sources said on Friday.

Malaysia LNG, majority owned by Petronas, declared force majeure on LNG supplies to its customers due to a leak on the Sabah-Sarawak Gas Pipeline on Sept. 21, a Mitsubishi Corp (8058.T) spokesperson said on Thursday.

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Petronas pipeline leak hit part of Malaysia’s LNG exports -sources

January 6, 2023

Historical, don’t sell your shares.

Dateline 2022-10-07, Nasdaq:

Contracts to export Malaysian liquefied natural gas (LNG) that sources gas from the northern Borneo state of Sabah are under force majeure following a pipeline leak, trade sources said on Friday.

Malaysia LNG, majority owned by Petronas, declared force majeure on LNG supplies to its customers due to a leak on the Sabah-Sarawak Gas Pipeline on Sept. 21, a Mitsubishi Corp 8058.T spokesperson said on Thursday.

This came after Petronas declared force majeure on gas supplies to Malaysia LNG, in which Mitsubishi also owns a stake.

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Gumusut-Kakap deepwater field achieves 1st oil production

January 5, 2023

Dateline 2022-10-03, The Malaysian Reserve:

THE Gumusut-Kakap (GK) Phase 3 deepwater development project on the east coast of Sabah achieved its first oil production on July 31, 2022, as two new oil producer wells and two water injector wells were drilled.

Petronas said once the project is fully completed in the first quarter of 2023 (1Q23), the four wells will add around 25,000 barrels per day to GK’s existing production capacity.

Sabah Shell Petroleum Co Ltd is the operator of the GK project, in partnership with Petronas Carigali Sdn Bhd, ConocoPhilips Sabah Ltd, PTT Exploration and Production Public Co Ltd, and PT Pertamina Malaysia Eksplorasi Produksi.

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Shell to invest in second Malaysia oil, gas project in a month

January 4, 2023

Dateline 2022-10-03, Reuters:

Shell PLC announced a second investment in Malaysia’s oil and gas sector in a month as the major and its partners, including Petronas, aim to revive output in an environment of tight global supply.

Shell’s decisions come after the war in Ukraine disrupted Russian oil and gas supplies and boosted prices. Oil and gas producers in Asia are struggling to sustain output after years of under-investment in the sector as international companies scaled back to focus on exploration and production in Africa and the Americas.

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Mubadala makes gas find off Malaysia

January 2, 2023

Dateline 2022-09-27, Market Screener:

UAE-based Mubadala Petroleum and its partners Shell and Malaysia’s Petronas have made a sizable natural gas discovery at Block SK320 off the coast of Bintulu, Sarawak, in Malaysia, Petronas said on September 20.

The discovery was made with a well drilled to a depth of 1,680 metres. The well encountered a gas column more than 110 metres in length, in good-quality carbonate reservoirs.

Mubadala operates the block with a 55% stake, while Petronas has 25% and Shell has 20%.

In a statement, Petronas said the find added to “a string of exploration successes in the Central Luconia region,” and confirmed the “large potential” of the region’s carbonate play.

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Hess Starts Gas Production from NMB Phase 3 Project Offshore Malaysia

December 30, 2022

Dateline 2022-09-26, Offshore Engineer:

U.S. oil firm Hess has started gas production from the North Malay Basin (NMB) Phase 3 project in Block PM302, located 290 kilometres offshore Peninsular Malaysia.

Malaysian oil and gas giant Petronas shared the news of production startup on Monday.

Block PM302 is operated by Hess Corporation’s subsidiary, Hess Exploration and Production Malaysia B.V. (Hess) with a 50 percent participating interest, in partnership with Petronas Carigali Sdn Bhd, which owns the remaining 50 percent.

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Hess Starts Gas Production from NMB Phase 3 Project Offshore Malaysia

December 13, 2022

Dateline 2022-09-23, OE:

U.S. oil firm Hess has started gas production from the North Malay Basin (NMB) Phase 3 project in Block PM302, located 290 kilometres offshore Peninsular Malaysia.

Malaysian oil and gas giant Petronas shared the news of production startup on Monday.

Block PM302 is operated by Hess Corporation’s subsidiary, Hess Exploration and Production Malaysia B.V. (Hess) with a 50 percent participating interest, in partnership with Petronas Carigali Sdn Bhd, which owns the remaining 50 percent.

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