PETRONAS Carigali, Shell and PETROS EP awarded exploration acreage offshore Malaysia

August 5, 2021

A bit more clarity for yesterday’s post.

Dateline 2021-07-28:

PETRONAS has awarded Block SK437 offshore Sarawak, Malaysia to PETRONAS Carigali Sdn Bhd (PCSB), Sarawak Shell Berhad (SSB), and Petroleum Sarawak Exploration and Production Sdn Bhd (PSEP), a wholly-owned subsidiary of Petroleum Sarawak Berhad (PETROS).

Block SK437 is located to the southwest of the prolific Central Luconia province, measuring 2015 km2 in size and in water depths of up to 50 m.

SSB is the operator for Block SK437 PSC, with a 85% participating interest, while PCSB and PSEP hold 7.5% each. Both PCSB’s and PSEP’s interests are carried during the exploration phase. SK437 is a new addition to Shell’s existing interests in 15 production sharing contracts in Malaysia, of which eight are located off the coast of Sarawak, whilst the remaining seven are located off the coast of Sabah.

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Shell wins Malaysia offshore exploration block

August 4, 2021

Is Shell exiting, or wo’? Maybe it will exit PETRONAS , and enter PETROS?

Oo, and the page has an article titled “Petronas surrenders to Sarawak tax demands as CEO walks“

Dateline 2021-07-29, Energy Voice:

Significantly, Sarawak state-energy company Petroleum Sarawak (PETROS) will hold a minor stake in Block SK437, marking its first involvement in an offshore exploration production-sharing contract (PSC).

Shell will operate the 2,015 sq km block, which lies southwest of the Central Luconia province in waters 50 metres deep, with an 85% interest. Malaysian national oil company (NOC) Petronas Carigali and PETROS will each hold a 7.5% stake in the acreage.

Since the 1970s, significant oil and gas reserves have been discovered offshore the eastern Malaysian state of Sarawak, which have helped supply one of the world’s largest liquefied natural gas (LNG) export plants in Bintulu.

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One injured after underground tank at Sibu petrol station catches fire

August 3, 2021

Why is the IEM OGMTD not making press statements about this? First thing is, how the heck does an underground tank catch fire? There ain’t enough oxygen.

Dateline 2021-07-27, Malay Mail:

An employee was injured after the underground tank at a petrol station at Jalan Brother Albinus here caught fire around 10am today.

An explosion was heard as the fire sent a thick plume of smoke high above the side of the petrol station.

Members of the public in the vicinity were seen running helter-skelter.

Staff of the petrol station managed to put out the fire with fire extinguishers before it caused further damage.

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Malaysia steps up offshore gas production

August 2, 2021

Dateline 2021-07-26, Offshore:

Malaysia could contribute about 12% (3.1 bcf/d) of global natural gas production in 2025 from offshore projects coming onstream between 2021 and 2025, according to GlobalData.

The ‘Global Offshore Upstream Development Outlook, 2021–2025’ predicts that 2 bcf/d of gas production in Malaysia in 2025 will come from projects with identified development plans, and 1 bcf/d from early-stage projects currently in the conceptual phase but likely to be approved for development.

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Favelle Favco contract win reaffirms O&G sector recovery

August 1, 2021

Dateline 2021-07-23, The Malaysian Reserve:

FAVELLE Favco Bhd’s (FFB) contract wins are a sign of recovery for the oil and gas (O&G) sector, according to analysts.

MIDF Amanah Investment Bank stated that at least five out of the eight contracts clinched by FFB recently are for offshore activities, including the compressor system and upgrade works.

“We concur with FFB’s positive stance on recovery from the impact of Covid-19 pandemic with the vaccine rollout in the countries.

“The group will continue to be vigilant of the economic recovery, especially in the crane sector.

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Shell launches sale of stakes in Malaysian oil and gas fields -document

July 31, 2021

Dateline 2021-07-22, Reuters:

Royal Dutch Shell (RDSa.L) launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.

The Anglo-Dutch company announced in March that it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts which are operated by Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas.

The sale process for the two stakes, launched this month, is being run by investment bank J.P. Morgan, according to the sales document.

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Jadestone gets approval for acquisition of Malaysia assets

July 30, 2021

Dateline 2021-07-16, ShareCast:

Asia-Pacific-focused oil and gas production company Jadestone Energy announced on Friday the satisfaction of all conditions required to complete its proposed acquisition of the peninsular Malaysia assets of SapuraOMV Upstream, including the approval of Malaysia’s national oil company Petronas.

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Hibiscus Petroleum receives waiver of pre-emption rights on Repsol assets, comes closer to concluding US$212.5m acquisition

July 29, 2021

Dateline 2021-07-14, The Edge:

One of the conditions precedent in Hibiscus Petroleum Bhd’s acquisition of upstream oil and gas assets from Spanish oil major Repsol has been fulfilled, which brings the oil explorer one step closer to concluding its acquisition of the latter’s upstream assets in Malaysia and Vietnam.

In a statement, Hibiscus said that it has been informed by Repsol Exploración S.A that the waiver and/or expiry of pre-exemption rights held by Petronas Carigali Sdn Bhd and PetroVietnam Exploration Production Corp under each of the relevant joint operation agreement for the assets had been satisfied.

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Malaysia picks new chairman for state-run Petronas

July 28, 2021

Dateline 2021-07-12, Reuters:

Malaysia has appointed Mohd Bakke Salleh as the chairman of state energy firm Petroliam Nasional Berhad (Petronas), the prime minister’s office said on Monday.

The change comes as Petronas is recovering from a demand slump caused by the COVID-19 pandemic.

Mohd Bakke will replace Ahmad Nizam Salleh, who had served as chairman since 2018, effective Aug. 1.

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Call for Malaysia to liberalise solar power industry

July 27, 2021

Dateline XXX, The Star:

THE atmosphere in Malaysia’s once-boring solar power industry has completely changed in recent years.

Between 2014 and 2019, solar is the only renewable energy (RE) source that has grown by a whopping 432% in installed capacity.

The soaring appetite for solar power was thanks to conducive government policies such as tax incentives, apart from cheaper photovoltaic systems, that encouraged solar energy adoption across the commercial and residential sectors.

The growth is further strengthened by the entry of non-power producers into the industry and the growing need for companies to boost their environmental, social and governance (ESG) profiles.

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