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.
Leave a Comment » | 
oil and gas | Tagged: Bertam, IPC | 
Permalink
Posted by Wata
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.
…
Leave a Comment » | Safety | Tagged: ConocoPhillips, Naga 7 | Permalink
Posted by Wata
Process Safety engineers never forget.
Leave a Comment » | Chemical | Permalink
Posted by Wata
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.
…
Leave a Comment » | oil and gas, Safety | Tagged: Naga 7, Velesto | Permalink
Posted by Wata
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.
…
Leave a Comment » | Safety | Tagged: Emery Oleochemicals, Norazam Khamis, Telok Panglima Garang | Permalink
Posted by Wata
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.
…
Leave a Comment » | oil and gas | Tagged: Chermingat, East Belumut, East Piatu, Jadestone, SOMV, West Belumut | Permalink
Posted by Wata
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.
…
Leave a Comment » | oil and gas | Tagged: Lokan, Petronas, South East Collins, Vestigo | Permalink
Posted by Wata
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.
…
Leave a Comment » | investment, oil and gas | Tagged: OGSE | Permalink
Posted by Wata
Dateline 2021-04-23, Reuters:
Malaysia’s government on Wednesday enacted a new emergency law allowing it to use funds derived from oil and gas contributions to pay for vaccine procurement, as it looks to ramp up its COVID-19 vaccination programme.
The ordinance will allow the government access to use the 17.4 billion ringgit ($4.23 billion) parked under the national trust fund to secure vaccines “for an epidemic of any infection disease”, according to the law published in the federal gazette.
The trust fund, which takes contributions from state energy company Petronas (PETR.UL) and others involved to petroleum exploitation, was set up to support infrastructure and other development and provide federal loans to Malaysia’s states.
…
Leave a Comment » | Malaysian election, oil and gas | Permalink
Posted by Wata
Dateline 2021-04-21, OE:
Malaysia’s Petronas has awarded the Production Sharing Contract (PSC) for the South East Collins Cluster under the newly introduced Small Field Asset (SFA) PSC terms, to Vestigo Petroleum.
The South East Collins Cluster, located in water depths of 42 to 45 meters 70km northeast of Labuan Island, comprises two fields, South East Collins and Lokan which were discovered in the 1980s. With a combined estimated recoverable of 10MMstb, the South East Collins Cluster is now primed for development under the new SFA PSC terms, Petronas said.
…
Leave a Comment » | oil and gas | Tagged: Collins Cluster, Lokan | Permalink
Posted by Wata
Paypal donations accepted.
Wata - Malaysian Oil and Gas Engineer 