Malaysia’s Petronas hopes to lure investors to marginal fields with new scheme

February 19, 2021

Dateline 2021-02-05, Energy Voice:

Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.

“I think all the smaller players here – Hibiscus – and many of the service linked companies such as T7, Dialog, Uzma, etc will be bidding. This does not seem like anything foreign firms will want neither does Petronas want them. They are trying hard to keep a domestic oil sector alive and it is on life support so this will be a lifeline to them,” a Malaysia-based industry source told Energy Voice.

SFA aims to attract investors to monetise small or marginal discovered fields with resource size less than 15 million barrels of oil or less than 300 billion cubic feet of gas. It is a straightforward and simplified PSC model which gives the contractor full control over the costs, procurement and operations.


Maritime pilots claim LNG terminal near cruise port dangerous

November 14, 2019

May I suggest that perhaps that the safety report wasn’t read or couldn’t be bothered to be read by some stakeholders?

Dateline 2019-09-13, Malay Mail:

The Maritime Pilots of Malaysia (MPM) organisation is concerned that the planned Liquefied Natural Gas (LNG) terminal at Pulau Indah, Port Klang is a violation of public and port safety due to its location near a cruise ship terminal.

Its president and chairman Martin Lim said that while it lauded the government’s efforts in bringing in investment of the LNG terminal and storage facility, the nature of the development needed more consideration due to its hazardous nature.


Petronas to continue aggressive exploration

November 20, 2015

And they will be exploring using offshore standby vessels?

Dateline 2015-10-13, The Star:

Petroliam Nasional Bhd (Petronas) will continue to undertake aggressive exploration and appraisal activities despite the global low oil price environment.

General Manager, Malaysia Petroleum Management, Mohd Redhani Abdul Rahman said Petronas feels that this is one of the main strategic thrusts that has been working for Malaysia for the past five to 10 years.

“In the last five years, 970 exploration wells were drilled in South-East Asia and about one fifth of them, or 171 wells, were drilled in Malaysian waters.

“The 970 wells drilled have brought in an additional 10 billion barrels of oil equivalent, with Malaysia contributing half of the new addition,” he said at the Asia Petroleum and Geoscience Conference and Exhibition (APGCE) 2015 here yesterday.

 


20% royalty will harm O&G industry

October 18, 2014

Dateline 2014-08-07, Borneo Post Online:

An increase in cash payments, which some people prefer to call royalty, by Petronas to the state and federal governments would have an adverse impact on the project viability and the industry at large, according to the vice president of Malaysia Petroleum Management, Adif Zulkifli.

He said that if the cash payments were to be increased to 20 per cent for Sabah, some projects undertaken by Petronas may be in jeopardy.

The immediate impact would be projects being dropped by foreign investors, investors’ confidence will be eroded and the country’s energy security will be at risk, he said.

Adif said the mid-term impact would be contract and opportunity losses for supporting industry, no further exploration activities and retrenchment.