Sarawak govt endorses Petros award of oil exploration to Petra Energy

July 21, 2021

Dateline 2021-07-18, Malay Mail:

 The state government has endorsed the conditional award by state-owned Petroleum Sarawak Berhad (Petros) for Sarawak onshore block SK 433 to Petra Energy Development Sdn Bhd, a wholly-owned subsidiary of Petra Energy, and its joint venture partner, Uzma Engineering Sdn Bhd,  a wholly-owned subsidiary of Uzma Berhad.

In a statement today, the Chief Minister’s Office (CMO) said the award is the result of a competitive bidding exercise that was managed by Petros since January this year.

The CMO said this is a significant milestone for Sarawak as it looks forward to the resumption of active exploration and production activities onshore.

…

Leave a Comment » | oil and gas | Tagged: , , , | Permalink
Posted by Wata

More oil and gas companies going green

July 20, 2021

Dateline 2021-06-18, The Star:

Amid greater calls to address the climate change agenda, more local oil and gas (O&G) companies are taking steps to prepare for a greener future, including through commitments to reduce carbon emission and diversifying their investments into renewable energy (RE) assets.

Notably, O&G companies have been targets for scrutiny as they are seen to be operating in a highly carbon intensive business.

But contrary to public perception, BIMB Securities Research pointed out that many O&G companies listed on Bursa Malaysia are actually environment, social and governance (ESG) friendly companies – although they are stronger in the social and governance aspects.

…

Leave a Comment » | oil and gas | Permalink
Posted by Wata

Norwegian oil firm may face action for ‘misleading’ Petronas

July 19, 2021

Dateline 2021-06-11, Malaysiakini:

Norwegian oil services firm Aker Solutions said on Thursday one of its managers was being questioned by Malaysian authorities and three sources familiar with the case said they expected charges to be filed today.

Malaysia’s Anti-Corruption Commission (MACC) has been investigating allegations that Norway’s biggest oil services company made false representations to win licences from state energy group Petronas that are normally reserved for companies that meet ethnic quota requirements under Malaysian law.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: | Permalink
Posted by Wata

Hess’ latest pact with Petronas lays foundation for potential Malaysia exit

July 18, 2021

Dateline 2021-06-10, Peril of Africa (my sources are everywhere)

Petronas and Hess have agreed amendments to an existing upstream gas sales agreement for fields offshore Malaysia that cements the value of the US-based company’s North Malay Basin assets. This makes any potential divestment process easier as Hess focuses on its prolific acreage offshore Guyana.

“This gas sales agreement now cements the value of the NMB (North Malay Basin) and lays the groundwork for a sale as Hess needs billions of dollars for Guyana,” a Kuala Lumpur-based industry source told Energy Voice.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Company senior vice president charged with cheating O&G firm

July 17, 2021

Dateline 2021-06-11, The Malaysian Reserve:

A senior vice-president of an engineering company was charged in the Sessions Court here, today with duping a leading oil and gas company into listing his company as a qualified company with Bumiputra status, three years ago.

Ahmad Hatta Kamaruzzaman (picture), 50, who is also head of Aker Engineering Malaysia pleaded not guilty after the charge against him was read before judge Izralizam Sanusi.

The accused, as an agent of Aker Solutions Group, was charged with intentionally submitting documents for the purpose of duping the oil and gas company.

It was for the purpose of listing Aker Engineering Malaysia as a qualified company with Bumiputra status, when the accused knew that it was not true.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

PTTEP, Petronas aiming for Sarawak gas double

July 16, 2021

Dateline 2021-06-09, Upstream Online:

Thailand’s national upstream company PTTEP is set to spud imminently the Nangka-1 exploration well on the Block SK 147 production sharing contract offshore Sarawak in Malaysia’s exclusive economic zone.

Borr Drilling’s jack-up rig Saga, which was last operating on the Medan Helang D1-1 well, has been lined up for the Nangka wildcat.

…

Leave a Comment » | oil and gas | Tagged: , , , , | Permalink
Posted by Wata

Floating LNG sector showing its strengths

July 15, 2021

“Operating FLNG units is no more challenging that operating onshore liquefaction facilities” Really?

Dateline 2021-06-04, Upstream Online:

Floating liquefied natural gas contractors are ready to pounce on fresh opportunities in the growing sector after a clutch of eye-catching developments in Asia, Africa and beyond have proven the technology.

Originally envisaged and developed to exploit remote or stranded gas resources, FLNG is currently being deployed in both deep and shallow waters and has even been used to produce from onshore fields.

The technology is also gaining increasing traction as a development option where onshore liquefaction may prove challenging due to security issues, a lack of infrastructure or other factors.

Operating FLNG units is no more challenging that operating onshore liquefaction facilities, Amir Hamzah Ghazali, head of floating LNG at Malaysia’s national oil company Petronas, told Upstream’s “The Future of Floating Liquefied Natural Gas” digital event last week.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Petronas, Hess said agreed to amend gas sale agreement

July 14, 2021

Dateline 2021-06-07, The Edge:

Petroliam Nasional Bhd (Petronas) and US-based Hess Corp’s subsidiary Hess Malaysia are said to have agreed to amendments made to their existing upstream gas sales agreement (UGSA) to include the sale and purchase of gas produced from the North Malay Basin (NMB) oil and gas field located offshore Peninsular Malaysia.

In a statement today, Hess Corp said the UGSA governs the sale and delivery of gas from the NMB project to Petronas and helps Hess Corp meet its supply and sale commitments in Peninsular Malaysia.

Zhiyong Zhao, vice president of Hess Asia, said in the statement: “The amended UGSA delivers access to new gas supplies that are critical to Malaysia’s economic prosperity and energy security.”

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Repsol Sells E&P Assets in Malaysia, Vietnam to Hibiscus Petroleum

July 13, 2021

Dateline 2021-06-01, Offshore Engineer:

Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.

Repsol said that the sale of its upstream assets in Malaysia and in Block 46 CN in Vietnam supported its plan to reduce its presence from 25 to 14 core countries.

Repsol said it was concentrating its upstream activity on 14 key projects centered around producing basins and executed through lean modular development, prioritizing value over volume.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

Federal Government cedes licensing for the importation, distribution and retail of Liquified Petroleum Gas in Sarawak to State Government

July 12, 2021

Dateline 2021-05-31, Skrine:

The importation, distribution and retail of liquified petroleum gas in the State of Sarawak will be regulated by the State Government of Sarawak commencing 1 June 2021.
 
Under the Distribution of Gas Ordinance, 2016 (Chapter 72) of Sarawak (“Ordinance”), which came into operation on 1 July 2018, various activities relating to the importation, distribution and retail of gas, including liquified petroleum gas, in the State of Sarawak will require a licence issued by the Director of Gas Distribution under the Ordinance.
 
To this end, the Federal Government of Malaysia has gazetted the Notification of Exemption (Amendment) 2021 (“Amendment Notification”) and the Control of Supplies (Exemption) Order 2021 (“Exemption Order”), both of which will come into operation on 1 June 2021.

…

Leave a Comment » | Malaysia | Tagged: , | Permalink
Posted by Wata

« Previous Entries
Next Entries »