Petronas Sets Aside RM10b For Enhanced Oil Recovery Projects In Sarawak

August 29, 2017

Dateline 2017-08-03, MalaysianDigest:

Petroliam Nasional Bhd’s upstream subsidiary, Petronas Carigali Sdn Bhd (PCSB), has set aside RM10 billion for its enhanced oil recovery (EOR) projects located offshore Sarawak.

Expected to be completed by the year 2020, the EOR in the Bakor and Baronia fields, would be jointly carried out with Sarawak Shell Bhd.

PCSB Sarawak Oil-Malaysia Assets head, Anuar Ismail, said the company is upbeat that the investment will yield return despite uncertainties in the global oil prices.

“It is business as usual for Petronas although we are adopting prudent spending. We are trying to reduce our operating cost as much as possible to maximise our income,” he told reporters when met the PCSB headquarters here today.

Anuar also gave his assurance that retrenchment is not in the cards although Petronas is trying to control its operating cost from increasing.

He said there are a total of 1,200 employees stationed at oil rigs in the state.

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Now Petronas subsidiary is leaving Labuan

February 4, 2017

Dateline 2017-01-08, Daily Express:

A long-time big player in the oil and gas industry here – Petronas Carigali Sdn Bhd (PCSD) – has moved its operations to its own supply base at Bintulu Port, Sarawak, effective January 1.

A notice issued by the company advised its service providers and vendors that the delivery point for its materials would now be the East Logistics Command Centre (ELCC) at the Bintulu Port.

Industry sources reacting immediately to the latest development said it was certainly bad news for Labuan but good news for Sarawak which, not long ago, had acted firmly on Petronas to increase Sarawak’s opportunities in its employment.

PCSD had a strong presence here and had helped to raise the profile of the island as a significant oil and gas hub.

The company had been serving as an anchor tenant at the Asian Supply Base (ASB) which has often been described as a fully integrated logistics hub for oil and gas. ASB is a fully Sabah-owned entity and was established in 1985 when Tan Sri Harris Salleh was the Chief Minister of Sabah.

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Hibiscus to buy Shell’s operatorship of four oil fields offshore Sabah

November 25, 2016

And that settles my thoughts as to when Hibiscus was going to spend its money, and who would want to buy the Shell Sabah blocks.

Dateline 2016-10-12, The Star:

Shell has reached an agreement to sell its 50% equity interest in the 2011 North Sabah enhanced oil recovery (EOR) production sharing contract (PSC) to Hibiscus Petroleum Bhd’s indirect unit SEA Hibiscus Sdn Bhd for US$25mil (RM104.8mil).

The amount excludes post completion adjustments and reimbursements to Shell.

Currently, Sabah Shell Petroleum Co (25%) is the operator, partnering with Shell Sabah Selatan (25%) and Petronas Carigali Sdn Bhd (50%) in the PSC, which includes the Labuan Crude Oil Terminal, and the fields of St Joseph, South Furious, SF30 and Barton, all located offshore Sabah.

Total oil production (on a 100% PSC basis) averaged 18 kilobarrels (kbbls) per day last year, according to statements from Shell and Hibiscus.

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Joint efforts result in Malaysia’s first Tension Leg Platform

August 3, 2016

Dateline 2016-06-25, NST:

Malaysia’s first Tension Leg Platform (TLP), which was completed in April, is a result of a collaboration among major oil players — a signal that joint efforts are needed to remain sustainable during the “lower for longer” period. The Malikai deep-water platform was designed and built and will be operated by Malaysians. It was completed on time after 23 million man-hours, including 10 million work-hours, without a loss time injury recorded. The platform was a joint venture between Shell Malaysia as the operator (with a 35 per cent stake), ConocoPhilips Sabah (35 per cent) and Petronas Carigali Sdn Bhd (30 per cent). It was designed and engineered by Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) and Technip. It is a major milestone on what was once deemed difficult to achieve and is a national accomplishment.

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PETRONAS Carigali Bars THHE’s Unit from Participating in Tenders

May 20, 2016

I think this is the first time that complaints about the quality of service providers moved from the whining stage to black and white. In case you didn’t know THHE is a subsidary of Tabung Haji.

Dateline 2016-04-05, Rigzone:

TH Heavy Engineering Berhad (THHE) reported Monday that its 70-percent owned unit THHE Fabricators Sdn. Bhd. (TFSB) had received a letter from PETRONAS Carigali Sdn Bhd in connection to TFSB’s ongoing contract for the procurement, construction and commissioning (PCC) of KNPG-B Topside PH II for the Kinabalu Non-Associated Gas (NAG) Development Project (Kinabalu Project) offshore Malaysia that was awarded Jan. 28, 2014.

PETRONAS Carigali stated in the letter that “due to performance related issues pertaining to the execution of the Kinabalu Project, TFSB will be excluded from participating in future PETRONAS Carigali’s tender for a duration of 2 years,” TTHE said in a filing with local stock exchange Bursa Malaysia.

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Marketing Rounds – PCSB Side business

May 6, 2015

Ever since the leaked letter about PCSB staff pay cuts (thrust and counter news articles), I assume the Management eventually had to find other income pipelines.

Disclaimer: I did not freaking set up this shot.

IMG_20150417_151315_HDR IMG_20150416_180443_HDR

 

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Petronas to spend US$1 bln to develop gas field

March 1, 2015

Before or after the oil crash of ’14?

Dateline 2014-12-12, Borneo Post Online:

Petronas, through its upstream arm, Petronas Carigali Sdn Bhd, will invest between US$500 million and US$1 billion to develop the K5 high carbon dioxide (CO2) concentration gas field off the coast of Sarawak until 2018.

For this purpose, Petronas Carigali has entered into an agreement with four companies, namely Technip Consultant (M) Sdn Bhd, UOP Malaysia Sdn Bhd, Twister BV and Generon Asia Sdn Bhd to provide the technology for the gas extraction.

Petronas Carigali head technology, technical global (sic) Dr Nasir Darman said Petronas would develop the world’s first offshore CO2 cryogenic distillation facility to enable it to recover four trillion square cubic feet (TSCF) of hydrocarbon gas from the 21 TSCF gas reserve at the field.

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