Hibiscus Wraps Infill Drilling Campaign Offshore Malaysia

November 26, 2020

Dateline 2020-11-02, Offshore Engineering:

Malaysia’s Hibiscus Petroleum completed the St Joseph minor sands infill and major sands redevelopment infill drilling campaign in its North Sabah PSC, Malaysia.

The offshore drilling campaign involved the drilling and completion of four infill oil producers on the St Joseph Jacket-F (“SJJT-F”) platform. 

Through the infill drilling development campaign, Hibiscus says it has added an instantaneous incremental 2,200 barrels per day of crude oil production and added approximately 4 million stock tank barrels of incremental life of field gross reserves.

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Malaysia’s Petronas eyes net-zero emissions by 2050

November 25, 2020

Dateline 2020-11-03, Argus (not Argos):

Malaysian oil and gas producer Petronas has announced an aspiration to achieve net-zero emissions by 2050, making it the first state-owned Asian energy company to set such a goal.

“We are making this commitment to make a positive change — not only to ride the energy transition — but because a fundamental shift is needed and the organisation wants to be part of the solution, for the world that yearns for a path towards a more sustainable future,” Petronas chief executive Tengku Muhammad Taufik said.

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Deep Producer 1: Was there ever a plan to stay afloat?

November 24, 2020

Dateline 2020-11-02, FMT:

With the Deep Producer 1 languishing in Dubai pending a court auction for US$6.2 million in wharfage and related charges, questions are being asked as to the viability of its acquisition.

In March 2011, Ramunia Holdings Berhad (now TH Heavy Engineering Berhad or THHE), entered into a preliminary agreement to secure marketing rights to the vessel to allow it to bid for FPSO projects.

Ramunia went on to acquire the vessel for US$82.5 million, a 36.5% discount on its market value, substantially financed by bank borrowings.

The discount aside, Ramunia’s other justification for the acquisition was less clear. At the time, the company’s own disclosure sheet merely referred to “the prospects of time charter arrangement for any FPSO projects being secured”, but without specific details.

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Sarawak issues leases on two oil fields to Petros

November 23, 2020

Dateline 2020-10-30, FMT:

The Sarawak government has issued mining leases to its oil and gas (O&G) company, Petroleum Sarawak Bhd (Petros), to carry out mining of O&G in two fields, in Miri and Marudi.

It marked the beginning of efforts to exercise the state’s constitutional rights to regulate onshore oil mining.

Chief Minister Abang Johari Openg who made the announcement tonight said the leases were for the Adong Kecil West field in Miri district and the Engkabang block in Marudi district.

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Widow demands explanation for ship-rig collision off Miri

November 22, 2020

Was it manslaughter? Accidental death? Act of God (insurance companies’ favourite get out clause)?

Go start a fund for the widow. Better yet, go get the big companies’ HSSE departments to adopt the children.

Dateline 2020-10-29, FMT:

A woman whose husband died on board a ship that collided with an oil rig last Tuesday is demanding an explanation for what she called an act of negligence by the ship’s management.

Nateshwari Dhusan, the widow of Aaron Michael Rajasgara, one of two persons who died in the accident, told The Borneo Post that she felt hopeless and wanted answers about what had happened.

“What were the captain, chief mate and second mate doing? What were the deck crew doing?“ she asked.

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RE adoption by O&G companies to slow amid low oil price

November 21, 2020

To sound like a broken record, how do I get into this gig?

Dateline 2020-10-30, Malaysian Reserve:

RENEWABLE energy (RE) projects in Malaysia led by oil and gas (O&G) players are expected to decelerate due to high gearing amid low oil price environment.

AmInvestment Bank Bhd (AmInvest) analyst Alex Goh said Yinson Holdings Bhd is the only party — among local service providers — that has taken the plunge by investing US$30 million (RM124.8 million) for a 95% equity stake in Rising Sun Energy Pte Ltd, which has a 160MW solar farm in Bhadla Solar Park Phase II in Rajasthan, India.

“Nevertheless, we envisage a slow adoption of renewable projects by local O&G providers given that a large segment is currently burdened by high gearing amid a low oil price environment,” Goh said in a report yesterday.

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Preventing single hulled vessels from transporting oil will negatively impact the economy, says association president

November 20, 2020

Dateline 2020-10-28, The Star:

The Sarawak and Sabah Shipowners Association is against the implementation of the Malaysia Shipping Notice (MSN) that was enforced in August this year.

Association president Ling Soon King said Wednesday (Oct 28) that the new regulation would impact economic activities that relied on diesel fuel.

The Marine Department of Malaysia had, on Aug 5,2020, issued the MSN, which prohibited existing single hulled, single bottom tankers under the Malaysia Flag from carrying oil irrespective of the age of the ship.

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Oil, gas to play key role for decades despite energy transition: Petronas CEO

November 19, 2020

Dateline 2020-10-28, S&P Global:

Malaysia’s state-run Petronas will be pursuing most of its oil and gas projects, but by using more cost-effective and cleaner processes, as it strongly believes that those fuels will have a major role to play for the next three decades at least, CEO Tengku Muhammad Taufik told the India Energy Forum by CERAWeek Oct. 28.

“Even in the most green of scenarios, oil and gas will still constitute half of the energy basket. We still believe there is life in this business — and not only life, there is promise in it. The only harsh thing is that we need to produce it more cost effectively and cleaner,” he said.

Taufik said that Petronas was carefully looking at its upstream portfolios in about 20 countries to ensure that they delivered value and were cost effective at $40/b — the company’s medium-to-long-term average oil price outlook. In addition, the projects needed to work on containing emissions.

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Plans unveiled for Malaysian hydrogen project

November 18, 2020

Dateline 2020-10-28, H2 View:

ENEOS Corporation, SEFC Energy and Sumitomo Corporation have announced a joint plan to establish a hydrogen supply chain using renewable energy in Malaysia.

The three companies have already signed a Memorandum of Understanding for the project, with plans to commence a feasibility study in January 2021.

Announced last week, the hydrogen supply chain under consideration will involve the production of tens of thousands of tonnes of CO2-free hydrogen at a hydroelectric power station in Sarawak, Malaysia.

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FGV installs its biggest renewable energy biogas power plant in Pahang

November 17, 2020

Dateline 2020-10-28, Malay Mail:

FGV Holdings Bhd’s (FGV) recently installed a biogas power plant at its Triang palm oil mill in Bera, Pahang, the company’s biggest renewable energy biogas power plant to date.

In a statement today, it said the plant has an installed capacity of 2.4 megawatts (MW).

“FGV’s Triang biogas power plant is successfully commissioned and fully-operational after receiving the Feed-in-Tariff (FiT) Completion Date (FiTCD) from the Malaysia Sustainable Energy Development Authority (SEDA) on October 20, 2020,” it said.

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