Petronas seeks investors to revive Malaysian upstream as majors exit

October 26, 2020

Dateline 2020-09-22, Energy Voice:

After reporting a $5 billion loss, Malaysian national oil company (NOC) Petronas is eager to see new money flow into its domestic upstream sector, especially as the majors, such as ExxonMobil, seek to exit the Southeast Asian nation.

Industry sources told Energy Voice that Petronas – the sole manager of Malaysia’s oil and gas reserves – is exploring ways to open up its upstream sector to mid and late-life operators. Traditionally, the NOC, has been very particular about who can operate the country’s upstream assets, preferring giant players, such as Shell, ExxonMobil and ConocoPhillips.

But this mindset is changing as most of the major foreign companies have put their Malaysian assets up for sale. Petronas now needs to find new investors, especially companies with experience squeezing more oil and gas from ageing and marginal fields.

…

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

SK408 Gas Fields Development Project, Offshore Sarawak

October 25, 2020

Dateline TBA, Offshore Technology:

SK408 gas fields development project is located within the SK408 Production Sharing Contract (PSC) area, approximately 120km offshore Sarawak in Central Luconia Gas Province, Malaysia.

The project includes five natural gas and condensate fields, namely Gorek, Larak, Bakong, Teja, and Legundi.

The gas fields development project is being developed jointly by SapuraOMV Upstream (40%), Sarawak Shell Berhad (30%) and Petronas Carigali (30%). The phase one development of the SK408 project includes the commercialisation of the gas reserves from the Gorek, Bakong, and Larak fields.

The final investment decision (FID) on the development of the three fields under the first phase was made in April 2018.

…

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

Husam says submitting four O&G-related proposals on Kelantan economic development to PM

October 24, 2020

Dateline 2020-09-20, Malay Mail:

Parti Amanah Negara’s Datuk Husam Musa said he will submit four proposals on Kelantan’s economic development related to the oil and gas (O&G) industry to Prime Minister Tan Sri Muhyiddin Yassin.

Husam, who is Kota Baru Amanah chief and adviser to the party, said the proposals that will be sent following the conclusion to the Sabah state election, were previously submitted to former prime minister Tun Dr Mahathir Mohamad by way of four letters last year.

“Even though Kelantan is under the leadership of PAS, I as a senator have written at least four letters to Dr Mahathir in an effort to further improve Kelantan’s economy.

“God willing these proposals will be submitted after the Sabah state election. If before this I have not copied to the state government, it will be sent to the mentri besar this time,” he was quoted as saying by Sinar Harian.

…

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

ASEAN BIZ CHAT FOR ENGINEERING (ABC4E) & VIRTUAL EXHIBITION 2020 – 24th November 2020

October 24, 2020

It is this time of the year for this remarkably talented group of engineers who get together and toy with the creative side of their brains to invent a sensation for the engineering fraternity.

Engineering is not just about bolts and nuts nor quantum physics. But engineering can signify a new spectrum. It creates energy, frequency, and vibration, networking, business opportunities, and diversification.

The ASEAN Engineering Register Commission (AER) under the governing body of the ASEAN Federation of Engineering Organisations (AFEO) proudly presents “ASEAN BIZ CHAT FOR ENGINEERING (ABC4E) & VIRTUAL EXHIBITION 2020″ (#abc4e).

Come and join us for an afternoon treat filled with engineering experts around ASEAN, sharing their expertise and business opportunities that await you in their respective countries.

WE ARE PROVIDING VIRTUAL EXHIBITION PLATFORM FOR THOSE WHO WISH TO PROMOTE YOUR COMPANY’S PRODUCTS AND SERVICES.

OR join as a participant.

This event will surely be a mouth-watering experience and flavor that will satisfy your business development appetite.

ASEANising Engineers for A Prosperous ASEAN Community

Register Now!

abc4e-poster-r3Download

← Back

Thank you for your response. ✨

Leave a Comment » | oil and gas | Permalink
Posted by lalli1910

Sarawak Petroleum Contractors Association advises Miri residents to avoid Canada Hills

October 23, 2020

I posit an alternate theory that this is where the lizard men will emerge from Tarzan’s land at the center of the earth (be well read on the originals, people).

Dateline 2020-09-18, Malay Mail:

The Sarawak Petroleum Contractors Association (SPECA) has asked Miri residents not to enter abandoned oil well sites for their own safety as one location around Canada Hill in the city is believed to be emitting gas.

Its president, Datuk Rahman Lariwoo today said this was because members of the public had found a hole foaming, believed to be leaking liquefied natural gas at one of the sites of an abandoned oil well in the area recently.

“Actually, the discovery does not show that there are still sources of oil and gas around Miri city but it is probably a leakage from the waste materials of an abandoned oil well and is hazardous to the public,” he said during a press conference here.

…

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

No way Sabah, Sarawak can get 20% oil royalty from govt, says Bung

October 22, 2020

Dateline 2020-09-17, FMT:

Sabah Barisan Nasional election chief Bung Moktar Radin doesn’t understand why Pakatan Harapan has pledged to increase the oil royalty payment for Sabah and Sarawak to 20%, claiming it could not be done.

Bung said increasing the oil royalty for the states was not easy as it involved pre-existing agreements with oil corporations, including international ones.

“We have done our research on the Malaysia Agreement 1963 on oil royalty and there is no way we can get the 20% from the federal government,” he told reporters after a ceramah in this interior Sabah district today.

“The agreement was signed after our independence with international corporations, including big firms from outside the country.

…

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

Petronas pays over 2bn ringgit in sales tax to Sarawak

October 21, 2020

If TSWZ stepped down due to “fighting demands”, what does that say of the current leadership?

Dateline 2020-09-18, Argus:

Malaysia’s state-owned Petronas has paid the country’s Sarawak state over 2bn ringgit ($480mn) in sales taxes on oil products for 2019, putting a dent in the oil firm’s coffers just weeks after it posted a 21bn ringgit loss for April-June.

“The payment represents Petronas’ full and final settlement for the sales tax for the year 2019 and is evidence of Petronas’ commitment towards achieving a commercial resolution,” the company said. “The payment for year 2020 will be made upon assessments by the Sarawak Comptroller of State Sales Tax.”

The move follows a long dispute that led to Petronas’ former chief executive Wan Zulkiflee Wan Ariffin stepping down after fighting demands by Sarawak, the country’s biggest oil-producing state, for additional tax payments.

…

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

Sarawak to finally receive SST cheque from Petronas tomorrow

October 20, 2020

Apparently, they were still waiting.

Dateline 2020-09-16, Malay Mail:

Sarawak’s endeavour to reclaim its rights on its oil and gas resources will reach a milestone tomorrow with Petroliam Nasional Berhad (Petronas) finally handing over a cheque to the state government for the State Sales Tax (SST).

According to a media invite from the Chief Minister’s Office today, Chief Minister Datuk Patinggi Abang Johari Tun Openg will receive the cheque from Petronas at Wisma Bapa Malaysia here at 4pm.

…

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

Sarawak to finally receive SST cheque from Petronas tomorrow

October 19, 2020

Will the check bounce?

Dateline 2020-09-16, Malay Mail:

Sarawak’s endeavour to reclaim its rights on its oil and gas resources will reach a milestone tomorrow with Petroliam Nasional Berhad (Petronas) finally handing over a cheque to the state government for the State Sales Tax (SST).

According to a media invite from the Chief Minister’s Office today, Chief Minister Datuk Patinggi Abang Johari Tun Openg will receive the cheque from Petronas at Wisma Bapa Malaysia here at 4pm.

…

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

Malaysia is burning more coal now than it did 20 years ago

October 18, 2020

We didn’t have Netflix 20 years ago, did we? And if we don’t build more power plants under the current energy framework, then we don’t get to watch the League games, init?

Dateline 2020-09-15, The Star:

Sahabat Alam Malaysia refers to Mangai Balasegaram’s recent columns in StarLifestyle about Malaysia’s coal-fired power plants, and wish to express our wholehearted support for her call to stop building more of them (online at bit.ly/star_coal1 and bit.ly/star_coal2).

In the interest of mitigating the climate crisis, we urge the Malaysian government to halt the country’s reliance on coal as a energy source and urgently expedite efforts to reform the energy sector towards renewable energy and away from a dependence on greenhouse gas-emitting fossil fuels.

…

Leave a Comment » | Renewable Energy | Tagged: | Permalink
Posted by Wata

« Previous Entries
Next Entries »