ETP : OGE NKEAs Met Its 2014 KPIs

June 4, 2015

Dateline 2015-04-2015, The Malaysian Reserve:

The oil, gas and energy (OGE) National Key Economic Areas (NKEAs) has met all its 2014 key performance indicators (KPIs) due to closer collaboration between various stakeholders.

“The clear aim of meeting the year’s KPIs drove relevant agencies to work collaboratively to address and resolve issues within aggressive timeframes,” Economic Transformation Programme (ETP) 2014 annual report said.

Under the OGE NKEAs, the report has outlined key takeaways for 13 entry point projects (EPPs) including rejuvenating existing fields via enhanced oil recovery (EOR), developing marginal fields, intensifying exploration activities, encouraging investments in the oil and gas (O&G) services and attracting multinational companies (MNCs) to set up operations in Malaysia.

Under the EPP 1: Rejuvenating Existing Fields, the KPI achieved for 2014 was 37.9 million stock tank barrel (MMstb) from 15 MMstb targeted in addition resources.

ETP: Economy to be driven by large infrastructure projects

March 27, 2013

Ah, MPRC. Dateline 2013-03-19 from the Star:

The Gumusut-Kakap field, which recorded its first oil production in Nov 2012, is expected to reach a maximum of 25,000 barrels per day (bpd) after ramping up two wells.

Located in offshore Sabah as Malaysia’s second deepwater development, the field’s full development comprises 19 subsea wells, a permanent semi-submersible floating production system with a potential to produce a maximum of 120,000 bpd.

As one of the entry point projects under the Oil & Gas National Key Economic Area, the production is an achievement after a 14-month planning and execution process.


Malaysia’s ambitious plan to transform its economy

May 1, 2012

Dateline 2012-04-28, and I’m being paid too low…

The government of Malaysian Prime Minister Najib Razak launched the Economic Transformation Programme (ETP) in September 2010 with the ambitious goal of doubling income per person to $15,000 to reach developed-nation status by 2020.

The ETP aims to consolidate Malaysia’s oil and gas (O&G) offshore fabricators to become more competitive regionally. OSK said this could benefit Kencana Petroleum Bhd (>> Kencana Petroleum Berhad) and Malaysia Marine of Heavy Engineering Bhd (>> Malaysia Marine & Heavy Engnrg Sdn Bhd), the remaining two listed larger fabricators. Offshore services firms such as Bumi Armada (>> Bumi Armada Bhd) are seen gaining from investments in the energy sector.

From Bernama – Success Runs Deep In Malaysia’s Oil & Gas Sector

March 12, 2011

If success runs deep, use some of that money to allow our universities to instill a sense of appreciation of engineering in their students, as opposed to creating automatons that give blank (or panicked) looks when asked a tech question.

Dateline 2011-02-24:

As Malaysia enters a new phase in its oil and gas industry, the country received heartening news in mid-February with a large discovery off the shores of eastern Sarawak.

“This is very good news for a sector that is facing declining annual production and the prospect of running out of hydrocarbons that fuel its economy in a space of 15 years and its Economic Transformation Programme (ETP),” said the Oxford Business Group (OBG), a business intelligence consulting group.

It said the discovery should help to temporarily halt Malaysia’s slow declining oil and gas output, dovetailing nicely with moves to boost exploration and production from marginal and deep-water prospects.