MPRC helps generate RM3.5b investments in oil and gas storage

September 26, 2014

Thank you, MPRC for actively stimulating Malaysia’s O&G industry. Now, if you can stimulate my income to the level of RM2M tax free… who do I need to ‘seek consultancy services’ from?

Dateline 2014-07-11, the Malay Mail:

Malaysia Petroleum Resources Corp (MPRC) has assisted in generating a total of RM3.49 billion investments in oil and gas (O&G) storage as of 2013.

Another RM3.52 billion investments were attracted in the O&G services, said its president/chief executive officer, Datuk Shahrol Halmi, in the corporation’s inaugural corporate report for 2013.

The report offers an overview of the achievements of the government agency, which was set up in 2011 to make Malaysia the regional O&G services and manufacturing hub.

Asia’s No. 1 hub: Malaysia has ambitious plans for energy sector

May 21, 2013

From the Asahi Shimbun, dateline 2013-05-12:

By SYAHRILAZLI MAHAMMAD/ Executive director, Malaysia Petroleum Resources Corp.

With oil consumption in the Asia-Pacific region increasing more than 30 percent since 2000, Malaysia has been bolstering its role as an energy consumer and regional hub for energy trading. In cooperation with Singapore, with its strong financial and IT sectors, Malaysia–a key exporter of oil and gas to Japan–is striving to become a global center of the energy industry.

* * *

Malaysia is a bridge between the markets of Europe and those of China and the rest of Asia. Until now, Malaysia has developed as an oil and gas producer, but economic growth has pushed domestic demand to the point where supply capacity will probably decline in future, not just in Malaysia, but throughout Southeast Asia.

In fiscal 2011, for example, Malaysia was the largest supplier of Liquefied Natural Gas (LNG) to Japan, but it now has started to import LNG from elsewhere. Malaysia is currently building facilities on the Strait of Malacca for the regasification of imported LNG for distribution across the country.

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 plans to lure storage operators

September 27, 2012

Dateline 2012-09-14:

Malaysia is throwing down the gauntlet to Singapore in its bid to emerge as Asia’s go-to commodity trading hub, according to the Financial Times (FT).

The move, according to the paper’s Singapore-based Asia correspondent Jeremy Grant in an article published on Wednesday, is being spearheaded by a unit in Prime Minister Datuk Seri Najib Tun Razak’s office as part of an ambitious push to position the country as South-East Asia’s centre for oil, gas and petrochemicals.

The FT quoted Malaysia Petroleum Resources Corp (MPRC) executive director Syahrilazli Mahammad as saying Malaysia was embarking on an aggressive plan to attract oil-storage operators by offering zero tax rates as an incentive for companies to build millions of barrels of storage capacity in Johor.

Photos – Launch of MPRC ICC

June 8, 2012

Some unofficial photos of the launch of the Industry Consultative Council (ICC) of the Malaysia Petroleum Resource Council (MPRC) on May 22nd, 2012. We look forward to good things.

Petronas To Award Additional Licenses To Develop Marginal Fields

April 8, 2012

Dateline 2012-04-02:

Petroliam Nasional Bhd (Petronas) will be awarding additional licences this year to develop marginal fields to bolster crude oil and gas production to further stimulate growth in the Oil, Gas and Energy sector.

The additional licenses would also support to maintain production at 650,000 barrels per day, the Performance Management & Delivery Unit (Pemandu) said in the Economic Transformation Programme Annual Report 2011 released today.

This move to develop small fields through innovative solutions is part of the entry point projects (EPPs) in the Oil, Gas and Energy (OGE) industry under the National Key Economic Areas (NKEA).

Having passed the Petroleum Income Tax Act last year to introduce new tax incentives for the oil and gas sector to unlock and monetise stranded O&G resources, the Act would be utilised to incentivise new players to enter the marginal field development segment, the report said.

Among licenses awarded in 2011 were risk service contracts to Sapura Kencana Petroleum Bhd and Petrofac Energy Developments Sdn Bhd.