March 17, 2021
Deadline 2021-03-01, The Bono:
Petroliam Nasional Bhd (Petronas) has launched the Malaysia Bid Round (MBR) 2021, under which the company is offering 13 oil and gas exploration blocks to open up more investment opportunities for investors to explore and monetise hydrocarbon resource potentials in Malaysia.
Petronas said in a statement today that out of the 13 offshore blocks, three are situated in the Malay basin in Peninsular Malaysia, four in the Sabah basin and the remaining six are located in the Sarawak basin. The Malay basin blocks are known as PM340, PM327 and PM342, the Sabah basin blocks are indicated as SB409, SB412, 2W and X, while the Sarawak basin blocks are specified as ND3A, SK4E, SK328, SK427, SK439 and SK440, according to Petronas.
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Posted by Wata
March 15, 2021
Dateline 2021-02-26, The Straits Times:
Malaysia’s Petronas on Friday (Feb 26) delayed the launch of its Pengerang Integrated Complex until the second half of the year from the first, but dismissed rumours partner Saudi Aramco was looking to exit the US$27 billion (S$36 billion) project.
The state oil firm Petronas said it faced another challenging year after booking a RM1.1 billion (S$361 million) loss for the final quarter of 2020, its third quarterly loss in a row, though higher prices and demand for liquefied natural gas (LNG) helped.
The world’s fourth-biggest LNG exporter had earned a profit of RM4.1 billion for the October-December quarter a year earlier.
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Posted by Wata
March 14, 2021
Dateline 2021-02-24, Reuters:
Malaysia’s state energy firm Petroliam Nasional Bhd, or Petronas, said on Wednesday that it had discovered gas in the Dokong-1 wildcat exploration well in the Block SK417 production sharing contract (PSC).
The firm said the contaminant-free gas find in Dokong-1 in the shallow waters of Baram Province off the coast of Sarawak, revives the Baram shallow clastics play.
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Posted by Wata
March 12, 2021
Dateline 2021-02-23, Upstream Online:
Malaysia’s national upstream company Petronas Carigali is forging ahead with its Kasawari giant sour gas field development offshore Bintulu, Sarawak.
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Posted by Wata
March 11, 2021
Historical news.
Dateline 2021-02-22, Energy Voice:
Malaysia will offer 13 offshore exploration blocks, including discovered fields and deep-water opportunities, as part of its Malaysia Bid Round (MBR) 2021 due to launch on 26 February.
Included in the round are six discovered fields to incentivise investors to undertake more extensive exploration activities within those blocks, Malaysian national oil company (NOC) Petronas said Friday. This year’s round also features four deep-water blocks next to the coast of Sarawak and Sabah, which saw prominent exploration discoveries in recent years, added Petronas.
The round will be launched virtually in Kuala Lumpur, Malaysia and live-streamed to three different markets in North America, UK and Europe, as well as Asia Pacific. Themed ‘Grow your Energy Portfolio with Us’, MBR 2021 aims to attract investors with unique capabilities to unlock the full potential of the hydrocarbon resources in Malaysia.
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Posted by Wata
March 9, 2021
Hey, it’s a shallow water block.
Dateline 2021-02-22, Energy Voice:
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
The award is expected to help bolster interest in exploration activities offshore Sabah with more block investment opportunities on offer, Malaysian national oil company (NOC) Petronas said Friday.
ConocoPhillips will operate Block SB405 with an 85% interest. Petronas Carigali, the upstream division of the NOC, will hold the remaining 15% stake. ConocoPhillips already holds interests in five production-sharing contracts (PSCs) in Malaysia; Block J, G and Kebabangan offshore Sabah, as well as SK304 and WL-00 offshore Sarawak.
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Posted by Wata
February 19, 2021
Dateline 2021-02-05, Energy Voice:
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
“I think all the smaller players here – Hibiscus – and many of the service linked companies such as T7, Dialog, Uzma, etc will be bidding. This does not seem like anything foreign firms will want neither does Petronas want them. They are trying hard to keep a domestic oil sector alive and it is on life support so this will be a lifeline to them,” a Malaysia-based industry source told Energy Voice.
SFA aims to attract investors to monetise small or marginal discovered fields with resource size less than 15 million barrels of oil or less than 300 billion cubic feet of gas. It is a straightforward and simplified PSC model which gives the contractor full control over the costs, procurement and operations.
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Posted by Wata
January 11, 2021
Dateline 2021-01-04, Market Screener:
Malaysia’s state energy firm Petronas said on Monday it expects to resume full production at its Baram facilities, off the state of Sarawak on Borneo island, in the third quarter after halting output in October following an accident.
Petronas declared force majeure at its Miri crude oil terminal on Oct. 29 as a result of the ship collision on Oct. 27 at the Baram field, a company spokesman told Reuters.
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Posted by Wata
December 30, 2020
I didn’t know you could do force majare on a grade. 2020 Uni grads, go find a lawyer!
Dateline 2020-12-24, The Edge:
Malaysia’s Petroliam Nasional Bhd (Petronas) has declared force majeure on two crude oil grades following production issues, four trade sources said yesterday.
The disruption to Miri and Cendor crude supplies has reduced Malaysia’s oil exports this month and supported spot prices in the region.
Miri crude production was reduced after a ship hit an oil production platform off Sarawak in late October, the sources said.
It was not immediately clear when Miri’s output could return to normal.
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Posted by Wata
December 24, 2020
Dateline 2020-12-08, Straits Times:
Sabah will follow Sarawak in pursuing its rights, particularly where oil and gas are concerned.
Deputy Chief Minister Datuk Seri Jeffrey Kitingan congratulated Sarawak for reclaiming its rights, adding that the Sabah government would ensure the same for the state.
He was referring to the Sarawak government signing a commercial agreement with Petroliam Nasional Bhd (Petronas) on Monday which allows the state, through its subsidiary Petroleum Sarawak Bhd (Petros), to play a bigger role in the oil and gas industry through cooperation with Petronas.
“Kudos to the Sarawak government for reclaiming their rights. It is no secret that the Sarawak government had been doing all the heavy lifting in this fight and we are grateful for their efforts.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 