May 16, 2022
Dateline 2022-04-22, The Edge:
Petroliam Nasional Bhd (Petronas) has signed a production sharing contract (PSC) with its new investor SK earthon Co Ltd and Sarawak-owned oil and gas company Petroleum Sarawak Exploration & Production Sdn Bhd (PSEP) for Block SK247 off the coast of Sarawak.
Block SK427 is located within the prolific area of Balingian and Tatau hydrocarbon provinces covering an area of 3,349 sq km, according to Petronas in a statement on Friday (April 22).
“The block is situated in a proven hydrocarbon system and has promising hydrocarbon potential to be unlocked. Several significant hydrocarbon discoveries were made in 2021 in the Balingian province near the block, namely Sirung-1 and Hadrah-1 wells,” Petronas said.
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oil and gas | Tagged: Balingan, Hadrah, Petronas, Sirung, SK earthon, SK247, Tatau | 
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Posted by Wata
May 15, 2022
Who now?
Dateline 2022-04-23, Malaysian Reserve:
PETRONAS has signed a Production Sharing Contract (PSC) with SK earthon Co., Ltd. (SK earthon) and Petroleum Sarawak Exploration & Production Sdn. Bhd. (PSEP) for Block SK427 off the coast of Sarawak.
SK earthon, a wholly owned subsidiary of South Korea’s SK Innovation Co., Ltd is the operator of Block SK427 with 85 percent participating interest while PSEP, the Sarawak-owned oil and gas company, holds the remaining 15 percent.
Signing on behalf of PETRONAS was Senior Vice President of Malaysia Petroleum Management (MPM) Mohamed Firouz Asnan, while SK earthon was represented by its Director and Head of Exploration & New Venture Office, Suntaek Bang, and PSEP by its Director and Chief Operating Officer, Dr James Foo.
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Leave a Comment » | oil and gas | Tagged: James Foo, Mohamad Firouz Asnan, MPM, Petronas, PSEP, SK earthon, SK427, Suntaek Bang | Permalink
Posted by Wata
May 13, 2022
Dateline 2022-004-16, The Edge:
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However, it has come to light that the Malaysia Oil & Gas Services Council (MOGSC) and the Malaysia OSV Association have written to Petronas to air their grouses, chiefly to suggest that Petronas was raking in billions at the expense of the O&G players’ margins. According to MOGSC, Petronas had in 2015 sought their assistance and renegotiated contracts, which is eating into their members’ profits.
There was also a claim that Petronas had been slow in disbursing Covid-19 claims that ran into the hundreds of millions to industry players, leaving them without adequate cash flow.
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Leave a Comment » | oil and gas | Tagged: MOA, MOGSC, Petronas | Permalink
Posted by Wata
May 11, 2022
A junior level executive? Really? And will see people jumping out of MACC headquarters to protect any higher ups?
Dateline 2022-04-09, The Edge:
Petroliam Nasional Bhd (Petronas) has confirmed that one of its junior level executives has been arrested by the Malaysian Anti-Corruption Commission (MACC) for suspected graft.
In a statement on Saturday, the national oil company said it is committed to fully cooperate with the MACC in its investigations, and it staunchly condemns all forms of misconduct among its employees.
“To this end, Petronas has been working closely with the MACC since 2012 and will continue this collaboration to stamp out corruption within the group.
“The group has zero tolerance against corruption and will continue to leverage its internal mechanisms to prevent corrupt behaviour,” it added.
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Leave a Comment » | oil and gas | Tagged: MACC, Petronas | Permalink
Posted by Wata
May 4, 2022
Let’s see if this pans out for the historic record.
Dateline 2022-03-29, Upstream Online:
Malaysia’s national oil company Petronas is not going to be acquiring cash-strapped compatriot contractor Sapura Energy, which would have brought it under the same group as rival contractor Malaysia Marine & Heavy Engineering (MMHE) and shipping giant MISC.
Referencing news reports, comments in the media and recent speculation on its purported “talks with the government on a proposal to take a significant stake” in Sapura Energy, Petronas told Upstream that it “wishes to categorically deny these reports and speculation”.
“We have always been and will continue to be strictly guided by an established framework for any investment or divestment consideration,” said Petronas.
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Leave a Comment » | oil and gas | Tagged: Petronas, Sapura Energy | Permalink
Posted by Wata
April 18, 2022
Dateline 2022-03-11, Reuters:
Exports of Malaysia’s flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday.
Shell , operator of the oilfields that produce Kimanis, declined to comment. Oilfields equity owner Petronas (PETR.UL) did not immediately respond to a request for comment.
The Sabah Oil and Gas Terminal (SOGT), which processes oil and gas produced from the region’s offshore fields, will be shut in mid-May for brief maintenance, a source with knowledge of the matter said.
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Leave a Comment » | oil and gas | Tagged: Kimanis, Petronas, Sabah, SOGT | Permalink
Posted by Wata
April 17, 2022
Dateline 2022-03-08, Petroleum Economist:
The state-owned firm is doing most of the running, but IOCs are also active as the country seeks to sustain both production and LNG exports in particular
Malaysian state-owned Petronas’ policy of pressing on with offshore development despite the pandemic began to reap dividends around the turn of the year, with reports of several new finds and fresh drilling activity off the coast of Sarawak state.
The firm announced another offshore gas discovery in the area in January, at Hadrah-1in Balingian province. The success of the wildcat followed similar finds at Sirung-1 and Kulintang-1 last year.
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Leave a Comment » | oil and gas | Tagged: Balingian, Hadrah, Kulintang, Petronas, Sirung-1 | Permalink
Posted by Wata
April 9, 2022
Dateline 2022-02-18, Upstream:
Petronas awarding parallel front-end engineering and design contracts for its Kasawari carbon capture and storage project offshore its native Malaysia serves as a timely reminder that the increasingly global decarbonisation drive is continuing to build momentum.
But it also highlights the ability of conventional oil and gas projects to continue to attract billions of dollars’ worth of capital expenditure, with demand for hydrocarbons looking set to prevail until at least 2050 and likely well beyond.
The Malaysian national oil company appears to be on track — as intended — to take the final investment decision later this year on Kasawari CCS (Kasawari phase two), which is being touted as the world’s largest offshore CCS project.
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Leave a Comment » | engineering | Tagged: Kasawari, KUFPEC, Petronas, PTTEP | Permalink
Posted by Wata
April 3, 2022
Dateline 2022-02-15, FMT:
The Court of Appeal today affirmed a RM50,000 fine imposed on Petronas Carigali Sdn Bhd for failing to secure a safe work system which had caused the death of a worker in Kemaman eight years ago.
A three-member bench chaired by Hanipah Farikullah said there was no appealable error by the High Court, which confirmed the decision of the sessions court.
She said the company did not comply with its own internal guidelines and failed to ensure a contractor complied with the job method statement.
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Leave a Comment » | Safety | Tagged: Hanipah Farikullah, PCSB, Petronas | Permalink
Posted by Wata
March 31, 2022
Dateline 2022-02-11, Energy Voice:
Malaysia’s national oil company Petronas is setting up a business unit focusing on clean energy solutions as part of a global operational shuffle.
Petronas chief executive Tengku Muhammad Taufik announced the changes in a two-hour long internal townhall on Tuesday, according to recording of the meeting reviewed by Bloomberg. He said the launch of the clean energy solutions business is aimed for as early as the middle of this year. Petronas is also divesting assets in Myanmar, Chad and Azerbaijan, according to the people.
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Posted by Wata
Wata - Malaysian Oil and Gas Engineer 