The best is yet to come: Firouz champions Malaysia’s opportunities

May 12, 2022

Dateline 2022-04-14, Upstream Online:

Into its second century, Malaysia might be perceived as a mature hydrocarbon province, but the nation still has little trouble attracting fresh upstream investment, which Petronas senior vice president of Malaysia Petroleum Management (MPM), Mohamed Firouz Asnan, attributes to the continuous commercial innovation to develop production sharing contract (PSC) models for the various asset types or opportunities.

“This incentivises investors to come to invest in Malaysia to participate in the continued development of hydrocarbon resources in the country ever since the first production in the town of Miri in 1910,” Firouz says.

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Posted by Wata

Petronas confirms arrest of employee by MACC

May 11, 2022

A junior level executive? Really? And will see people jumping out of MACC headquarters to protect any higher ups?

Dateline 2022-04-09, The Edge:

Petroliam Nasional Bhd (Petronas) has confirmed that one of its junior level executives has been arrested by the Malaysian Anti-Corruption Commission (MACC) for suspected graft.

In a statement on Saturday, the national oil company said it is committed to fully cooperate with the MACC in its investigations, and it staunchly condemns all forms of misconduct among its employees.

“To this end, Petronas has been working closely with the MACC since 2012 and will continue this collaboration to stamp out corruption within the group.

“The group has zero tolerance against corruption and will continue to leverage its internal mechanisms to prevent corrupt behaviour,” it added.

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23 Tcf of gas resources require CCS in Malaysia

May 11, 2022

Dateline 2022-04-14, Upstream Online:

National oil company Petronas has identified more than 46 trillion cubic feet of potential storage in depleted gas reservoirs offshore Peninsular Malaysia and Sarawak that could be used to sequester carbon dioxide produced from about 23 trillion cubic feet of Malaysian gas resources that have yet to be developed.

Petronas’ upstream activities are forecast to require some 60% of the carbon capture and would be available as early as 2028,” says Wan Atikahsari Wan Zakaria, senior manager, Sarawak resource development and management at Petronas.

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I disagreed with Dr M’s Sapura bailout during PH rule, Rafizi tells Najib

May 10, 2022

Yes, Mr Incoming PM.

Dateline 2022-04-06, FMT:

KR vice-president Rafizi Ramli says he had disagreed with the Pakatan Harapan government’s decision to bail out Sapura Energy Bhd through the injection of funds from Permodalan Nasional Bhd (PNB) in 2019.

The former Pandan MP said he had no influence or position in the PH government but had spoken out against several decisions made by then prime minister Dr Mahathir Mohamad.

“I had disagreed with the decision by the Dr Mahathir Mohamad-led PH government to inject PNB funds to save Sapura,” he said in a statement today.

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Keep Sapura’s huge oil reserves out of foreign hands, says Najib

May 9, 2022

Yeah, gomen, listen to your Glorious Leader. Maybe MOGEC or MOGSC should take over ownership. Or MTEM.

Dateline 2021-04-02, FMT:

Former prime minister Najib Razak insists that the government offer a loan guarantee to Sapura Energy Bhd in order to save its oil reserves from falling into foreign hands before its full potential can be realised.

He said the company’s subsidiary, Sapura OMV, owned oil and gas reserves of 264 million barrels with a gross value of RM110.8 billion.

If the subsidiary is put up for sale, as is being speculated, Sapura’s joint venture partner OMV of Austria, would likely be the first choice buyer as it already holds a 50% stake in Sapura OMV with the remaining 50% held by Sapura Energy.

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Malaysia Targets 40 Percent Renewable Energy By 2035

May 8, 2022

Guess this will be after the next 4 pandemics. Probably need more energy storage solutions.

Dateline 2022-04-1, Lowyat.net:

Renewable energy is all the rage these days, and for good reason. The good news is, it looks like Malaysia is taking steps to rely more on them. The government is looking to increase green energy generation to 40% of the country’s energy supply by 2035.

Energy and Natural Resources minister Takiyuddin Hassan said that the ministry has set targets for renewable energy contribution for the country in its energy transition plan. The first is the aforementioned 40% green energy supply by 2035. He says that the “installed capacity for renewable energy in Malaysia so far is 8700MW, while y 2035 the capacity is projected to double to 18000MW”.

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Malaysia Targets 40 Percent Renewable Energy By 2035

May 7, 2022

Dateline 2022-04-01, Lowyat.net:

Renewable energy is all the rage these days, and for good reason. The good news is, it looks like Malaysia is taking steps to rely more on them. The government is looking to increase green energy generation to 40% of the country’s energy supply by 2035.

Energy and Natural Resources minister Takiyuddin Hassan said that the ministry has set targets for renewable energy contribution for the country in its energy transition plan. The first is the aforementioned 40% green energy supply by 2035. He says that the “installed capacity for renewable energy in Malaysia so far is 8700MW, while y 2035 the capacity is projected to double to 18000MW”.

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Malaysia not exporting renewable energy, says Takiyuddin

May 6, 2022

Why is this a thing?

Dateline 2022-03-31, The Edge:

The government does not export the renewable energy it produces, but instead uses it to attract more investors to the country, said Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan.

He said renewable energy was a top choice of a majority of foreign investors, especially those who chose to apply green technology in their industrial operations or investments.

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Enhancing the Engineering Profession

May 5, 2022

First off, I am all for continuous education. However, if you are taking a Masters to enhance your first degree so as to be able to register with the Board of Engineers, Malaysia, please ask them first. And understand, if your first degree is NOT engineering, then this won’t help you towards your BEM registration.

And this is moot in the near future, as their will be no top-up allowance for unrecognized first degree.. unless you register as a engineering technologist, and then top up? Loophole galore.

Dateline 2022-03-XX, The Star:

THE engineering field is not just a competitive profession but it is also constantly evolving. Therefore it is important to keep updated with the latest headways in the industry.

One effective way of doing so is pursuing a higher degree to enhance career opportunities within the field.

Monash University Malaysia’s Master of Applied Engineering (MAppE) at the School of Engineering is designed for fresh graduates and working adults with science and engineering academic backgrounds.

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Petronas is NOT acquiring cash-strapped Sapura Energy

May 4, 2022

Let’s see if this pans out for the historic record.

Dateline 2022-03-29, Upstream Online:

Malaysia’s national oil company Petronas is not going to be acquiring cash-strapped compatriot contractor Sapura Energy, which would have brought it under the same group as rival contractor Malaysia Marine & Heavy Engineering (MMHE) and shipping giant MISC.

Referencing news reports, comments in the media and recent speculation on its purported “talks with the government on a proposal to take a significant stake” in Sapura Energy, Petronas told Upstream that it “wishes to categorically deny these reports and speculation”.

“We have always been and will continue to be strictly guided by an established framework for any investment or divestment consideration,” said Petronas.

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