Malaysian government, Petronas form offshore security initiative

May 23, 2019

Dateline 2019-04-05, Offshore:

Petronas has entered a collaboration with the Malaysian Maritime Enforcement Agency to safeguard the country’s offshore oil and gas facilities.

Abdul Jalil Zainul, Petronas’ Head of Strategic Relations said the aim was to avoid incidents such as maritime accidents, encroachment and fish bombings, and potential crises or disasters within the oil and gas operation areas.

“There are close to 300 offshore oil and gas facilities in the South China Sea, with numerous safety and security challenges,” he said, “and most of these threats were found to occur within the safety zone and restricted areas surrounding the offshore upstream installations.”

Malaysia’s Petronas testing polymer units at Pengerang

May 19, 2019

Dateline 2019-04-04, Argus:

Malaysian state-owned oil firm Petronas is continuing test runs of polymer units at its new petrochemical facility in Pengerang in the run-up to the Islamic fasting month of Ramadan.

Petronas has so far produced small quantities of on-specification product.

The facility, a joint venture between Petronas and Saudi Arabia’s state-owned Saudi Aramco, will be able to produce 900,000 t/yr of polypropylene (PP) and 750,000 t/yr of polyethylene (PE).

Petronas is expected to ramp up test runs and increase run rates in the run-up to Ramadan, which starts in early May.

Ramadan is typically a slow period in Malaysia, with working hours reduced in state-owned companies.

Malaysia’s Petronas is Looking Near and Far for Gas and Oil

May 11, 2019

Dateline 2019-04-01, JPT:

As Malaysia’s largest company, chief revenue generator, and primary energy producer, Petronas has a keen interest to develop hydrocarbons wherever it can find them.

This means Petronas is looking within its home country, around Southeast Asia, and to the Americas in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. It is also exploring new partnerships with other global operators that offer regional and technical expertise.

Petronas, whose upstream portfolio consists primarily of natural gas, wants to both accelerate its exploitation of the hydrocarbon and add more oil to the mix.

Back home, the integrated company—the world’s third-largest LNG seller—continues to target domestic gas to leverage its control of the gas value chain all the way to its petrochemical and LNG liquefaction plants. Petronas’ LNG facilities include its 30-million tonnes/annum (mtpa) complex in Sarawak, and the world’s first floating LNG facility, the 1.2-mtpa PFLNG Satu. A second floating LNG facility is expected to be ready for sail away by 2020.

DUBS to hold O&G Seminar and Exhibition

May 9, 2019

DUBStep, official dance?

Dateline 2019-03-28, Borneo Post:

The Sarawak Bumiputera Chamber of Entrepreneurs (DUBS) will hold the Sarawak Oil and Gas Seminar and Exhibition 2019 in collaboration with Suarah Petroleum Group (SPG) and the Malaysian Oil and Gas Services Council at Imperial Hotel here on April 13-14.

Co-organising chairman Hamim Yusuf said the seminar is supported by the Sarawak government, Petros, and Petronas.

“The main theme of the event is ‘Now or Never!’, with a tagline of ‘Sarawak – Able, Capable, Willing’,” Hamim said in a press release yesterday.

Limited output disruption from fire at Malaysia’s Bintulu LNG plant: sources

March 25, 2019

Dateline 2019-02-25, S&P Global:

Malaysia’s Bintulu LNG plant is expected to experience limited production disruptions or cargo loading delays after a fire broke out at the plant on Friday morning, industry sources told S&P Global Platts.
Authorities at the Petronas facility have gotten the situation under control and there is little likelihood of a significant production impact as a result, according to two sources familiar with the matter.

MRO players to gain from rising O&G activities

March 13, 2019

Note that the article is focussing on downstream activities, not us muck in the mud folks.

Dateline 2019-02-07, The Sun:

More of Malaysia’s oil and gas services and equipment (OGSE) companies are expected to set their sights on the downstream sector mainly in the maintenance, repair and overhaul (MRO) segment with the completion of Petronas’ Pengerang Integrated Complex (PIC) in southern Johor said Malaysia Petroleum Resources Corp (MPRC).
According to its “Top 100 OGSE Companies in Malaysia FY2017” report, while volatility of the oil price is expected to persist in 2019 global oil and gas development activities are expected to increase in the coming years, with operators aiming to move forward to develop new offshore fields, particularly those located in deep waters.

Experts divided on special dividend payment from Petronas

February 14, 2019

Dateline 2019-02-04, FMT:

An economist has urged the government to review its special dividend payment from Petronas, saying it may affect the state oil firm’s capital expenditure programmes.

Yeah Kim Leng, a professor of economics at Sunway University, suggested that the government consider other revenue sources such as the monetisation of assets instead of Petronas reserves which may suffer due to the low oil prices.

“If Petronas is unable to carry out its capital expenditure programmes, it may attract negative ratings from international credit rating agencies,” he added.