TotalEnergies, Petronas Carigali, and Shell Sign PSC for Ultra-deepwater Offshore Block in Malaysia

January 17, 2023

Dateline 2022-10-13, Offshore Engineer:

Malaysia’s Petronas has signed a Production Sharing Contract (PSC) with TotalEnergies, Petronas Carigali, and Shell for Block 2K, an ultra-deepwater block off the coast of Sabah, Malaysia.

According to Petronas, Block SB 2K, with a depth of up to 3,000 meters, covers an area of 1,952 sq km and is located in the prolific north-west ultra-deepwater area within a proven hydrocarbon basin with promising hydrocarbon potential.

Under the PSC terms, TotalEnergies will be the operator with a 34.9 percent stake. Petronas Carigali will hold a 40 percent stake, and Shell the remaining 25.1 percent.


Petronas advances first gas offshore Sarawak, Malaysia

January 13, 2023

Dateline 2022-10-13, Upstream:

Malaysia’s national upstream company Petronas Carigali is edging nearer to production start-up at the next phase of its Bayan redevelopment project offshore Sarawak.

The project’s mobile offshore production unit (MOPU) is scheduled to start its tow this week from Labuan Shipyard & Engineering for installation on Bayan field sub-block 4Q-21.

The tow and installation, which is expected to take around 12 days to complete, is being supported by four vessels — the Malaysia-flagged Executive Pride and Bridgewater 132 plus the Singapore-flagged Bridgewater 130 and the MP Prowess.


PETRONAS SIGNS PSCS FOR FIVE OFFSHORE BLOCKS

April 29, 2022

Dateline 2022-03-24, Natural Gas World:

Petronas has signed production sharing contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W and X located off the coast of Sabah, and SK439/SK440 located off the coast of Sarawak, the company said on March 23. The contracts were awarded in the Malaysia Bid Round (MBR) 2021.

Block SB412 in Sabah was signed between Petronas, PTTEP HK Offshore and SapuraOMV Upstream, while the PSCs for ultra-deepwater Blocks 2W and X were signed between Petronas, Sabah Shell Petroleum Company, Shell Sabah Selatan and Petronas Carigali.

The PSC for Sarawak’s Block SK439/SK440 was signed between Petronas, Sarawak Shell and Petroleum Sarawak Exploration & Production.


Court affirms fine against Petronas Carigali over unsafe work system

April 3, 2022

Dateline 2022-02-15, FMT:

The Court of Appeal today affirmed a RM50,000 fine imposed on Petronas Carigali Sdn Bhd for failing to secure a safe work system which had caused the death of a worker in Kemaman eight years ago.

A three-member bench chaired by Hanipah Farikullah said there was no appealable error by the High Court, which confirmed the decision of the sessions court.

She said the company did not comply with its own internal guidelines and failed to ensure a contractor complied with the job method statement.


POSCO International wins right to explore gas fields off Malaysian Peninsula

September 3, 2021

Wait,

PM524 minefield?

Dateline 2021-08-10, Aju Business Daily:

 POSCO International, a trading arm of South Korea’s steel group, will work with Petronas, a Malaysian state oil and gas company, to explore gas fields in waters of the east coast of the Malaysian Peninsula.

In an international bid, POSCO International said it has won the right to explore and operate the PM524 minefield where Petronas already operates a gas field. The South Korean company aims to sign a product distribution contract within this year after coordinating with Petronas on detailed conditions.

POSCO International has picked promising mining areas by checking seismic waves and drilling data. The company will hold an 80 percent stake, along with the right to operate, while the remainder will be controlled by Petronas’ subsidiary, Petronas Carigali Sdn Bhd, a subsidiary of the Malaysian state company.


Petrofac Brings Online East Cendor Offshore Field in Malaysia

August 6, 2021

Dateline 2021-07-30, Offshore Engineer:

Malaysian oil and gas firm Petronas said Friday that Petrofac had brought online the East Cendor field in Block PM304, 40 kilometers offshore Peninsular Malaysia.

The field was developed by Petrofac as the operator and Kuwait Foreign Petroleum Exploration Company and Petronas Carigali as partners.

East Cendor is the fourth in the series of development in Block PM304, after Cendor, West Desaru, and Irama. 


PETRONAS Carigali, Shell and PETROS EP awarded exploration acreage offshore Malaysia

August 5, 2021

A bit more clarity for yesterday’s post.

Dateline 2021-07-28:

PETRONAS has awarded Block SK437 offshore Sarawak, Malaysia to PETRONAS Carigali Sdn Bhd (PCSB), Sarawak Shell Berhad (SSB), and Petroleum Sarawak Exploration and Production Sdn Bhd (PSEP), a wholly-owned subsidiary of Petroleum Sarawak Berhad (PETROS).

Block SK437 is located to the southwest of the prolific Central Luconia province, measuring 2015 km2 in size and in water depths of up to 50 m.

SSB is the operator for Block SK437 PSC, with a 85% participating interest, while PCSB and PSEP hold 7.5% each. Both PCSB’s and PSEP’s interests are carried during the exploration phase. SK437 is a new addition to Shell’s existing interests in 15 production sharing contracts in Malaysia, of which eight are located off the coast of Sarawak, whilst the remaining seven are located off the coast of Sabah.


Shell launches sale of stakes in Malaysian oil and gas fields -document

July 31, 2021

Dateline 2021-07-22, Reuters:

Royal Dutch Shell (RDSa.L) launched the sale of its stakes in oil and gas fields it does not operate off the coast of Malaysia, according to a document seen by Reuters.

The Anglo-Dutch company announced in March that it was considering selling its stakes in the Baram Delta EOR and the SK307 production-sharing contracts which are operated by Petronas Carigali Sdn Bhd, a unit of state energy firm Petronas.

The sale process for the two stakes, launched this month, is being run by investment bank J.P. Morgan, according to the sales document.


Hibiscus Petroleum receives waiver of pre-emption rights on Repsol assets, comes closer to concluding US$212.5m acquisition

July 29, 2021

Dateline 2021-07-14, The Edge:

One of the conditions precedent in Hibiscus Petroleum Bhd’s acquisition of upstream oil and gas assets from Spanish oil major Repsol has been fulfilled, which brings the oil explorer one step closer to concluding its acquisition of the latter’s upstream assets in Malaysia and Vietnam.

In a statement, Hibiscus said that it has been informed by Repsol Exploración S.A that the waiver and/or expiry of pre-exemption rights held by Petronas Carigali Sdn Bhd and PetroVietnam Exploration Production Corp under each of the relevant joint operation agreement for the assets had been satisfied.


Petronas chases new gas reserves as it gears up Malaysia drilling campaign

July 11, 2021

Dateline 2021-06-01, Upstream:

Malaysia’s national upstream company Petronas Carigali is forging ahead with field development work offshore East Malaysia, where it will bring on stream new gas reserves later this year.

Petronas as early as this week is set to start the development drilling campaign for its Bakau non-associated gas (NAG) development offshore Sarawak.