December 13, 2012
Dateline 2012-11-27:
Shell Malaysia has signed a new production sharing contract (PSC) with Petronas to explore for oil and gas offshore Sarawak.
In a statement on Tuesday, Shell said under the SK319 PSC, it would undertake an initial three-year exploration programme covering 2,727 sq km within block SK319 in Central Luconia, offshore Sarawak.
Sarawak Shell Bhd is the operator while the partner is Petronas Carigali with a 50:50 participating equity split, it said.
The new PSC forms part of Shell’s low-cost exploration and development focus would enable it to carry out a multi-well exploration campaign to further explore and de-risk the mature carbonate pinnacle play in Central Luconia.
…
Leave a Comment » | 
Malaysia, oil and gas | Tagged: PCSB, Shell, SK319 | 
Permalink
Posted by Wata
December 7, 2012
Dateline 2012-11-20:
Oil field service major Halliburton (NYSE:HAL) is making progress into Malaysia’s oil and gas industry. Earlier this month, the firm’s subsidiary Halliburton Bayan Petroleum (HBP) signed a deal with Petronas Carigali Sdn Bhd, the exploration and production arm of state-controlled oil giant Petronas, to provide services to boost production from mature wells in the Bayan Field off the coast of Malaysia. The deal is estimated to be worth $1.2 billion and will span over 24 years. Dialog, a Malaysian oil and gas engineering services firm, has picked up 50% equity stake in HBP and will partner with Halliburton to provide services in these fields.
…
Leave a Comment » | Malaysia, oil and gas | Tagged: Bayan, Halliburton, PCSB | Permalink
Posted by Wata
November 17, 2012
Note the “opposite the state of Pahang” jibe.
Dateline 2012-10-30:
Prime Minister Datuk Seri Najib Razak today announced that PETRONAS Carigali Sdn Bhd and Lundin Oil have jointly discovered additional oil reserves, under a production-sharing contract (PSC), at Block PM 307 of the Bertam oilfield.
He said the oil field, located 160 kilometres offshore Peninsula Malaysia, is opposite the state of Pahang at the depth of 76 metres.
PM 307 PSC is operated by Lundin Malaysia which holds a 75 per cent interest and Petronas holds the remaining equity.
…
4 Comments | Malaysia, Malaysian election, oil and gas | Tagged: Bertam, Lundin, PCSB, Petronas | Permalink
Posted by Wata
June 27, 2012
Dateline 2012-05-28:
Petroliam Nasional Bhd (Petronas) has signed a new production sharing contract (PSC) with Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.
The PSC, signed on May 23, was for the continuing production, further development and improved recovery of crude oil from the Kinabalu Fields, a number of fields with mature reservoirs located offshore Sabah.
Vice president of petroleum management Ramlan Abdul Malek said the PSC is the first awarded under the new, innovative progressive volume-based (PVB) fiscal terms designed by Petronas to offer value-added incentives for the development and production of mature oil fields in Malaysia.
…
Leave a Comment » | Malaysia, oil and gas | Tagged: Kinabalu, PCSB, Petronas, psc, Talisman | Permalink
Posted by Wata
April 4, 2012
Dateline 2012-03-17:
Petronas Carigali Sdn Bhd’s (Petronas Carigali) agreement to buy natural gas from Natuna at a revised price of US$6 per million British thermal units (mmBtu) will expedite the process of raising domestic gas selling prices, which are heavily subsidised at present.
Theoretically, the adjusted Natuna price was 31 per cent higher than the price currently paid by the power segment (US$4.57 per mmBtu) but two per cent lower than industrial segment’s of US$6.12 per mmBtu, said Maybank Investment Bank Bhd (Maybank IB) in its report yesterday.
“While a hike in gas prices is inevitable, policymakers have yet to come out with a concise gas price blueprint,” it highlighted.
…
Leave a Comment » | Malaysia, Malaysian election, oil and gas | Tagged: Natuna, PCSB, Petronas | Permalink
Posted by Wata
November 27, 2011
Dateline 2011-11-15:
- Reserves of 227 mln boe, oil output rate of 8,200 bpd
- Estimated reserves have upside potential – PETRONAS
- Sabah has 12 pct Malaysia’s gas reserves, 25 pct of oil-analyst
Malaysia’s Petronas discovered oil offshore Sabah in the latest “significant” find this year in the hydrocarbon-rich state on Borneo island, as the national oil company sets to boost reserves and output amid easing production costs.
Initial estimates put the well’s reserves at 227 million barrels of oil equivalent (boe) and tests in three different reservoirs yielded a maximum output rate of 8,200 barrels per day (bpd), Petroliam Nasional Bhd (Petronas) said on Tuesday.
Petronas’ exploration and production arm, Petronas Carigali Sdn Bhd, is the sole equity holder of the production-sharing contract (PSC) for the block. Wakid-1 is the second well drilled in the block. The first, Tambuku-1, yielded only minor gas discovery, Petronas said in a statement.
…
Leave a Comment » | engineering, Malaysia, oil and gas | Tagged: PCSB, Petronas | Permalink
Posted by Wata
November 24, 2011
I’m sorry, 53 jobs?
Dateline 2011-11-10:
BC Petroleum Sdn Bhd will invest up to RM2.55 billion in the small field risk service project of the Balai Cluster Field, offshore Sarawak.
The project, which will be carried out in two phases, is awarded by Petronas.
BC Petroleum is a joint-venture company between Roc Oil Malaysia (Holdings) Sdn Bhd, Dialog D&P Sdn Bhd and Petronas Carigali Sdn Bhd.
The project is projected to contribute RM4.95 billion to the country’s gross national income (GNI) and create 53 jobs by 2020.
…
Leave a Comment » | engineering, investment, Malaysia, oil and gas | Tagged: Balai, BC Petroleum, Dialog, PCSB, Petronas, Roc Oil | Permalink
Posted by Wata
June 11, 2010
There’s a title you never expected to see. It’s interesting that Lundin is implicated as well, as it is also a Malaysian PSC. Kinda reminds one of the time ExxonMobil was accused of supporting violence against the local Sumatran populace.
Taken from the AFP, dateline 2010-06-08:
Report blames Swedish oil firm for Sudan war crimes
STOCKHOLM — A consortium led by Swedish Lundin Petroleum is partly to blame for war crimes committed in Sudan between 1997 and 2003, a report by the European Coalition on Oil in Sudan (ECOS) charged Tuesday.
ECOS, an umbrella group of European organisations “working for peace and justice in Sudan”, said it believed Lundin and its consortium partners Petronas Carigali Overseas from Malaysia and OMV Exploration from Austria “may have been complicit in the commission of war crimes and crimes against humanity” in Sudan.
Lundin Petroleum, previously called Lundin Oil, denied the allegations.
…
2 Comments | oil and gas | Tagged: PCSB | Permalink
Posted by Wata
October 15, 2009
Dropping by at the Kompleks Operasi Petronas (KOP) on Sunday, 11th Oct, 2009 (yes, I do work on Sundays), I noticed that PCSB has quite the community spirit.
1 Comment | Malaysia, oil and gas | Tagged: Carigali, KOP, PCSB, Petronas, PMO | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 