Malaysia’s Petronas offers 14 exploration blocks, discoveries, late-life assets

March 20, 2022

How about giving them to local communities and coops?

Dateline 2022-01-27, Reuters:

Malaysia’s state energy firm Petronas said it was offering 14 offshore exploration blocks, six clusters of discovered resource opportunities (DRO), and one cluster of late-life assets (LLA) in its annual bid exercise launched on Thursday.

The exploration blocks offered in the Malaysia Bid Round (MBR), aimed at attracting investors to undertake exploration activities, mostly contain existing oil or gas discoveries.

Those are located in prolific geological provinces within the Malay, Sabah and Sarawak basins, Petronas said in a statement.

…

Leave a Comment » | Malaysia, oil and gas | Tagged: , , | Permalink
Posted by Wata

Malaysia’s Petronas makes 3rd gas find off Sarawak’s Balingian province

March 11, 2022

Dateline 2022-01-07, Channel News Asia:

Malaysia’s state oil firm Petronas has made a new gas discovery at the Hadrah-1 wildcat exploration well off the coast of Sarawak state, the firm said on Friday.

The discovery by subsidiary Petronas Carigali Sdn Bhd was made at Block SK411k located in the shallow waters of Balingian Province.

Petronas said Hadrah-1 is the company’s third gas discovery in this province, after Sirung-1 and Kulintang-1 in March and May respectively.

…

Leave a Comment » | oil and gas | Tagged: , , , , | Permalink
Posted by Wata

Petronas sees positive outlook for next three years on oil price recovery, pandemic SOP relaxation

March 10, 2022

Ah, what about the effect of Malaysia’s shrinking population to pandemic kills? And this is just the NOC? How about paying industry living wages? Seen the pay of your (and mine) cleaning staff lately?

Dateline 2021-12-28, The Edge:

Petroliam Nasional Bhd (Petronas) said on Tuesday (Dec 28) it expects a positive outlook for 2022 to 2024 for the national oil company on a recovery in crude oil prices, as well as relaxation of Covid-19 standard operating procedures (SOPs) and directives besides an increase in plug and abandonment projects for planned retirement of oil and gas wells.

Petronas said the information in its latest activity outlook report, which covers 2022 to 2024, is accounted for when a specific activity begins and not by contract award.

…

Leave a Comment » | oil and gas | Tagged: | Permalink
Posted by Wata

Malaysia’s Petronas, Sabah state launch masterplan for gas development

March 5, 2022

Dateline 2022-01-04, Channel Asia:

Malaysia’s state oil firm Petronas and the resource-rich state of Sabah on Tuesday (Jan 4) launched a masterplan to develop the state’s natural gas resources, including the construction of a liquefied natural gas (LNG) plant.

The Sabah Gas Masterplan is the result of a joint study between the state and Petronas, both parties said in a joint statement.

It entails the construction of an LNG plant with a capacity of 2 million tonnes per annum (MTPA) at the Sipitang Oil and Gas Industrial Park, which will provide opportunities for Sabah to expand its LNG distribution across the state, they said.

…

Leave a Comment » | oil and gas | Tagged: , | Permalink
Posted by Wata

Malaysia’s Petronas says COVID-19 variants to keep oil demand uncertain

February 27, 2022

What are we recovering from? Are we O&G supplicants hoping that the world will continue consuming carbon based fuels like there is no Kyoto Protocol?

Dateline 2021-12-28, Reuters:

Malaysia’s state energy firm Petronas said on Tuesday that it anticipates recovery in oil demand from the impact of the coronavirus pandemic to remain fragile and uncertain in the next few years.

The industry was optimistic about economic recovery but remained cautious and needed to be ready to face oil price volatility, Petronas said in its activity outlook report for 2022-2024.

“The path towards sustained oil demand recovery remains fragile and uncertain due to the emergence of new COVID-19 variants that trigger fresh waves of lockdowns,” the custodian of Malaysia’s petroleum resources said.

…

Leave a Comment » | oil and gas | Tagged: | Permalink
Posted by Wata

PETRONAS spearheads ESG journey in Malaysia

February 26, 2022

Dateline 2021-12-27, The Edge:

Globally, PETRONAS’ leadership takes progressive steps to position the organisation forward in the environmental, social and governance (ESG) and sustainability fronts. These have become the key considerations in business investment and portfolio decisions alongside cash flows and profitability.

Where many corporations are still formulating their paths ahead in this regard, Malaysia’s only Fortune 500 company, Petroliam Nasional Berhad has announced its aspiration to achieve Net Zero Carbon Emissions by 2050 (NZCE 2050) in November 2020.

It certainly speaks volume for the national energy company to announce this aspiration, due to its nature of business in the oil and gas (O&G), one of the hard-to-abate sectors — which, to the unawares, is typically seen as a huge challenge in the journey towards environmental sustainability.

…

Leave a Comment » | Renewable Energy | Tagged: | Permalink
Posted by Wata

Storm delays Petronas’ MRU work at Pegaga gas field

February 25, 2022

Dateline 2021-12-21, Argus Media:

Malaysia’s state-owned Petronas has delayed the installation of an interim mercury removal unit (MRU) at the Pegaga gas field offshore Sarawak to 21 December because of stormy weather, according to some term offtakers of the 30mn t/yr Bintulu liquefaction and export project.

But Petronas is still targeting a 20 January start to gas production at the Pegaga field, unchanged from expectations last week, the offtakers said. The Pegaga field will supply feedstock gas to the Bintulu plant.

…

Leave a Comment » | oil and gas | Tagged: , , | Permalink
Posted by Wata

Malaysia’s Pegaga field may start gas output in January

February 22, 2022

Dateline 2021-12-16, Argus Media:

Malaysia’s state-owned Petronas may be targeting a 20 January start to production at its Pegaga gas field offshore Sarawak, after the detection of high mercury levels at the field in September delayed the start to operations.

Petronas has set up an interim mercury unit (MRU) at the Pegaga field and will likely start commissioning the unit on 16 December, it told some term offtakers of the 30mn t/yr Bintulu plant early this week. This is in advance of earlier expectations that the MRU would be fixed in the middle of January. The Pegaga gas field supplies feedstock gas to the Bintulu liquefaction and export project.

…

Leave a Comment » | oil and gas | Tagged: | Permalink
Posted by Wata

Petronas to raise supply of natural gas to Sarawak

February 18, 2022

Wasn’t this more like, PETRONAS needed someone to buy the gas, and found a patsy?

Dateline 2021-12-13, The Star:

Petroliam Nasional Bhd (Petronas) will raise the supply of natural gas to Sarawak by more than 250%, or up to 1,200 mmscf (million standard cubic feet) per day from the current 450 mmscf per day to support the implementation of projects under the Sarawak Gas Roadmap (SGR).

Chairman Tan Sri Mohd Bakke Salleh said the staggered increase in the natural gas supply would not only support Sarawak’s aspiration to attract investments from new, higher value-adding industries into the state but also provide the necessary impetus for further downstream exploration that would strengthen the state’s hydrocarbon resource base.

…

Leave a Comment » | oil and gas | Tagged: , , , | Permalink
Posted by Wata

Petronas inks MOU with Petros to increase natural gas supply

February 15, 2022

Dateline 2021-12-11, Malaysian Reserve:

Petroliam Nasional Bhd (Petronas) has inked a memorandum of understanding (MoU) with Petroleum Sarawak Bhd (Petros) to gradually increase natural gas supply to Sarawak to up to 1,200 million standard cubic feet per day (mmscf/d) by 2030.

Sarawak Chief Minister Tan Sri Abang Johari Tun Openg said the MoU would realise firm progress towards Sarawak Gas Roadmap (SGR), a 10-year plan designed for the full potential of the state’s abundant gas resources under the Sarawak Vision 2030.

…

Leave a Comment » | business opportunity | Tagged: , , | Permalink
Posted by Wata

« Previous Entries
Next Entries »