Widodo moots JVs of state oil firms with Malaysia

September 17, 2019

Dateline 2019-08-09, Menafn:

The state oil companies of Malaysia and Indonesia could co-operate or even merge to expand their businesses together, Indonesian President Joko Widodo said yesterday during a state visit to Kuala Lumpur.
Asked during an interview if he had considered the prospects of co-operation between Petroliam Nasional Bhd (Petronas) and Pertamina, Widodo said: ‘(It) can be. Petronas and Pertamina could collaborate or be merged as one to become a large enterprise with more capacity, capital and equity.


Oil production at Malaysian block 24,000 bps: Pertamina

June 25, 2015

Apa kabar, bapak2 ibu2? And that’s a high production target, considering the field.

Dateline 2015-05-19, Jakarta Post:

Pertamina International Exploration Production (PIEP), the upstream business unit of state-owned oil and gas company PT Pertamina, has recorded production at its oil and gas block in Malaysia at 24,000 barrels per day (BPS).

PIEP president director Slamet Riadhy said the achievement was part of the company’s total oil and gas target of 42,000 barrels of oil equivalent per day (boepd).

“We have conducted oil lifting activities three times from our Malaysian asset with a volume of between 300,000 and 500,000 barrels per lifting. The oil was sent to Pertamina oil refineries such as in Cilacap,” he said as quoted by Antara during the opening of PIEP’s new branch office in Kuala Lumpur, Malaysia, on Monday.

Slamet said the Malaysian asset’s oil and gas production was targeted to reach 70,000 boepd between 2020 and 2022.

“We are optimistic that our production will continue to increase,” he said.

Pertamina upstream director Syamsu Alam said Pertamina’s efforts to increase both its production and reserves from its lifting activities abroad, including in Malaysia, would bring not only economic benefits but would also help with efforts to attain national energy resilience.

He said Pertamina was prioritizing the purchase of assets abroad, especially oil and gas fields that were already in production.


Murphy Closes Sale of 30% of its Malaysian Oil, Gas Assets to Pertamina

April 3, 2015

Apa khabar, Bapak2 dan Ibu2?

Dateline 2015-01-30, Rigzone:

Murphy Oil Corporation announced Thursday that its wholly owned subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., Ltd. (collectively Murphy), have closed on the second phase of the sale of 30 percent of Murphy’s Malaysian oil and gas assets to PT Pertamina Malaysia Eksplorasi Produksi (Pertamina).

The second phase covers the remaining one-third of the transaction or 10 percent of Murphy’s Malaysian oil and gas assets. The first phase for two-thirds of the transaction closed on Dec. 18, 2014. The total transaction for 30 percent of Murphy’s Malaysian oil and gas assets had an aggregate sale price of $2.0 billion, subject to normal closing adjustments, with an effective date of Jan. 1, 2014.

 


Murphy Oil Corporation Closes First Phase Of Partial Divestiture Of Malaysian Assets

March 7, 2015

Dateline 2014-12-18, Marketwatch:

Murphy Oil Corporation MUR, +2.82% announced today that its wholly owned subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., Ltd. (collectively “Murphy”), have closed on the first phase of the sale of 30% of Murphy’s Malaysian oil and gas assets to PT Pertamina Malaysia Eksplorasi Produksi (“Pertamina”) that was originally announced on September 30, 2014. The first phase covers two-thirds of the transaction or 20% of Murphy’s Malaysian oil and gas assets with the remaining portion scheduled to close in the first quarter of 2015. The transaction has an aggregate purchase price of $2.0 billion and an effective date of January 1, 2014.

 


PT Pertamina to acquire Malaysian assets for $2 billion

December 9, 2014

Date 2014-09-30, Oil & Gas Journal:

PT Pertamina Malaysia Eksplorasi Produksi has agreed to acquire 30% of the Malaysian oil and gas assets belonging to Murphy Sabah Oil Co. Ltd. and Murphy Sarawak Oil, both wholly owned subsidiaries of Murphy Oil Corp., for $2 billion in cash.

The two companies will work jointly in a long-term partnership in which Murphy will remain operator. Murphy says it will continue to execute its development plans and expand through future exploration in both deepwater and shallow-water Malaysia.

Roger W. Jenkins, Murphy president and chief executive officer, commented, “We are excited to strengthen our partnership with Pertamina and look forward to working with them and our other partners in Malaysia.

“We will continue to evaluate all aspects of our portfolio,” Jenkins added. “This transaction allows us to redeploy the proceeds through an individual or combination of strategic and financial initiatives such as increased drilling capital in the Eagle Ford shale, acquisition opportunities, debt reduction and share repurchases.”

The deal, subject to approval from Malaysia’s state owned Petronas, is effective Jan. 1. The first and second phases are expected to close in fourth-quarter 2014 and first-quarter 2015, respectively.


Govt Shuts Door on Pertamina Taking Over BPMigas’s Responsibilities

December 4, 2012

Shocker, this. First we had this news, then this. Yes, I know it’s not Malaysian news, but waiting to see if the splatter from this hits other regional O&G regulators.

Dateline 2012-11-22:

The Indonesian government has shut the door for state-owned energy company Pertamina to assume the role of now-defunct oil and gas regulator BPMigas, two cabinet ministers said.

Energy and Mineral Resources Minister Jero Wacik and State Enterprises Minister Dahlan Iskan briefed Pertamina’s board of directors and board of commissioners in Jakarta on Wednesday, ordering the company to drop its plan.

Pertamina should instead focus on its big plans, the ministers said.


Pertamina wants higher natural gas price from Petronas

October 2, 2012

Dateline 2012-09-15:

Pertamina Hulu Energi (PHE) says it is in talks with Malaysia’s Petroliam Nasional (Petronas) and Petro Vietnam Exploration and Production (PVEP) to raise the price of natural gas from its oil and gas block in Malaysia.

PHE, a subsidiary of state-run oil and gas firm PT Pertamina, started the talks after it realized its concession for the SK-305 block also contained natural gas that it could not sell at what it thought was a good price.

PHE president director Salis S. Aprilian said on Thursday that Pertamina and PVEP agreed to negotiate a gas price that was more economic and competitive.