Dateline 2021-05-08, Borneo Post
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THOSE in the energy sector, specifically in oil and gas (O&G), are given the extra scrutiny when it comes to ESG practice.
Despite the current downturn and uncertainty brought on by Covid-19, oil and gas companies continue to make progress toward a lower-carbon future, in line with the broader energy transition taking place across the entire energy, resources, and industrials sector.
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Dateline 2021-05-06, Malay Mail:
Malaysia, through the Atomic Energy Licensing Board (AELB), is committed to meeting its international obligations, including in matters pertaining to controlling the emission of radionuclides from nuclear installations, into the environment.
It said, during normal operations, a nuclear installation will release part of radionuclides, including tritium, into the environment, usually into rivers, sea and the air and any emissions done need to follow international standards and conditions set by a country’s authorities.
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Dateline 2021-05-05, Offshore:
International Petroleum Corp. (IPC) has assumed full control of the Bertam field offshore Peninsular Malaysia.
Last month the company acquired Petronas’ 25% participating interest at no cost, although IPC has agreed to take on associated future well decommissioning obligations.
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Dateline 2021-05-04, Reuters:
Oil producer ConocoPhillips (COP.N) said all staff were safely evacuated from a drillship that listed and sank off the coast of Malaysia on Tuesday.
The Naga 7 drillship was being placed at a site off the coast of Sarawak state when one leg of the jack-up rig penetrated the soil, according to owner Velesto Energy Bhd (VELE.KL). No drilling had begun.
A total of 101 employees were transferred to rescue vessels, according to Velesto, which said it had begun an investigation and was evaluating recovery options. Jack-up rigs are generally designed to work in shallow waters.
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Process Safety engineers never forget.
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Dateline 2021-05-04, Argus Media:
A drilling rig has sunk offshore eastern Malaysia while it was being prepared for work at a ConocoPhillips-operated exploration block.
The NAGA 7 tilted “due to soil rapid penetration” at the WL4-00 site according to its owner, local firm Velesto Energy. All 101 personnel on board were evacuated, and the rig subsequently sank.
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Dateline 2021-05-01, Malay Mail:
An Indonesian man was killed while three others suffered minor injuries when two crude oil tanks caught fire at the Emery Oleochemicals plant in Telok Panglima Garang Industrial area today.
Selangor Fire and Rescue Department director Norazam Khamis said in a statement today that they received a distress call at 5.36pm and firefighters from the Telok Panglima Garang, Banting and Andalas Fire and Rescue stations were deployed to the scene.
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Dateline 2021-04-30, Offshore:
Jadestone Energy has agreed to acquire various field interests offshore Peninsular Malaysia from SapuraOMV Upstream for $9 million.
The transaction would give Jadestone a 70% operated interest in the PM329 PSC, containing the East Piatu field, and a 60% operated stake in the PM323 PSC, containing the East Belumut, West Belumut, and Chermingat fields.
Combined net production is 6,000 boe/d, and the associated reserves (net to Jadestone) are 12.5 MMboe, including estimates based on further development activities.
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Dateline 2021-04-26, Offshore:
Petronas has awarded Vestigo Petroleum a production sharing contract (PSC) for the shallow-water South East Collins Cluster, under Malaysia’s new Small Field Asset terms.
The cluster, in water depths of 42-45 m (138-147 ft), 70 km (43 mi) northeast of Labuan Island, comprises the South East Collins and Lokan fields discovered in the 1980s, with combined recoverable reserves estimated at 10 MMstb.
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Dateline 2021-04-27, Straits Times:
Malaysia is seeking to rescue its ailing oil and gas ecosystem with an ambitious 10-year plan after fuel prices were battered last year by the Covid-19 pandemic.
The National Oil & Gas Services and Equipment (OGSE) Industry Blueprint 2021-2030 comes after nearly two-thirds of over 4,000 vendors fell off the radar, victims of a “double whammy”.
Demand for energy and transportation tanked during the pandemic and this came on top of the rout in oil markets between 2014 and 2016.
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Leave a Comment » | investment, oil and gas | Tagged: OGSE | Permalink
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Wata - Malaysian Oil and Gas Engineer 