July 3, 2012
Dateline 2012-06-05:
Petronas has approved plans to build a floating liquefied natural gas (LNG) plant offshore Malaysia and aims to bring it online in 2015, which, if it were successful, would make it the first such plant in the world.
Petronas’ main competitor in the race to bring the first floating LNG plant online is oil major Royal Dutch Shell which approved its Prelude LNG floating plant last year and has said it intends to bring the plant online by 2017.
The floating LNG plant will allow Petronas to drill and ship gas from fields that were either too small or too remote to be profitable previously, CEO Shamsul Azhar Abbas said at a gas industry gathering in Kuala Lumpur on Monday.
“This is an example where advancement of technology has made it economically feasible to monetise stranded gas in small and scattered conventional fields,” Shamsul said of the project.
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engineering, investment, Malaysia, oil and gas | Tagged: FLNG, Petronas, Shamsul Azhar Abbas | 
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Posted by Wata
June 29, 2012
Dateline 2012-06-01:
A number of companies have expressed interest in using the Petronas Gas Bhd liquefied natural gas (LNG) regasification terminal in Sungai Udang.
Samsudin: ‘We have been approached by a few of them verbally and some have written to us to express interest to use the LNG regasification terminal.’
Petronas Gas managing director and chief executive officer Samsudin Miskon said at a media briefing that the company was in talks with several parties that were interested in using facility.
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Posted by Wata
June 28, 2012
Dateline 2012-05-31:
Malaysia’s state oil firm Petroliam Nasional Bhd (Petronas) posted a 61.7 per cent increase in first-quarter profit today, saying the rise was mainly due to higher margins and the company’s sale of its stake in Centrica Plc.
The unlisted company said its net profit for the three-month period ended March 31, 2012 rose to RM20.7 billion (US$6.5 billion) from RM12.8 billion a year ago.
Revenue in the three months climbed 14.6 per cent to RM75.2 billion year on year.
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Read more: Petronas posts 61.7pc profit rise in Q1 http://www.btimes.com.my/Current_News/BTIMES/articles/20120531174059/Article/index_html#ixzz1xHb6SHrT
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Posted by Wata
June 27, 2012
Dateline 2012-05-28:
Petroliam Nasional Bhd (Petronas) has signed a new production sharing contract (PSC) with Talisman Malaysia Ltd and Petronas Carigali Sdn Bhd.
The PSC, signed on May 23, was for the continuing production, further development and improved recovery of crude oil from the Kinabalu Fields, a number of fields with mature reservoirs located offshore Sabah.
Vice president of petroleum management Ramlan Abdul Malek said the PSC is the first awarded under the new, innovative progressive volume-based (PVB) fiscal terms designed by Petronas to offer value-added incentives for the development and production of mature oil fields in Malaysia.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Kinabalu, PCSB, Petronas, psc, Talisman | Permalink
Posted by Wata
June 26, 2012
I was wondering when the report will come out, as to how you get a fire in a supposedly depressurised, offline platform.
Dateline 2012-05-22:
Petrofac Facilities Management Asia Pacific Sdn Bhd (Petrofac), part of the Petrofac Group, has been awarded a US$220 million contract by PETRONAS Carigali Sdn Bhd, a subsidiary of PETRONAS, the Malaysian national oil company, for the refurbishment of the Bekok-C platform, located in Block PM9 in the south-eastern part of the Malay basin. The project will be executed on an engineering, procurement, construction, installation and commissioning (EPCIC) alliance basis and is valued at US$220 million.
Bekok-C is a manned platform serving as a gas processing and compression hub exporting gas from the Guntong, Tiong and Bekok fields of Block PM9 in addition to production of crude oil and gas from its own wells. Under the terms of the refurbishment project Petrofac will provide EPCIC services to the platform with the overall project expected to be completed in around 15 months.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Bekok C, EPCIC, Petrofac, Petronas, PM9 | Permalink
Posted by Wata
June 23, 2012
This will be really old news once this gets out. Visit the Google links here:
Dateline 2012-05-19:
Gas Malaysia Bhd (Gas Malaysia) the sole licenced distributor of natural gas in Peninsular Malaysia launched its prospectus yesterday pursuant to its initial public offering (IPO) of 333.840 million offer shares, in conjunction with its listing on the Main Market of Bursa Malaysia Securities Bhd on June 11, 2012.
Gas Malaysia’s IPO comprises an offer for sale of 303.315 million offer shares to institutional and selected investors and Bumiputera institutional and selected investors approved by the Ministry of International Trade and Industry (Miti) at the institutional price which will be determined by way of book building.
The remaining 30.525 million offer shares will be offered to the general public in Malaysia, eligible directors and employees of Gas Malaysia at the indicative retail price of RM2.20 per offer share.
Read more: http://www.theborneopost.com/2012/05/19/gas-malaysia-launches-prospectus-aims-to-raise-rm734-45-million/#ixzz1xHXKEqkq
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Posted by Wata
June 15, 2012
Dateline 2012-05-18:
The three major shareholders of Gas Malaysia Bhd will receive a total of RM734mil from the sale of their shares in the former’s impending initial public offering (IPO).
Gas Malaysia’s IPO will entail only an offer of sale of 333.8 million shares at RM2.20 a piece.
The three main owners of Gas Malaysia stock are MMC-Shapadu (Holdings) Sdn Bhd (55%), Tokyo Gas-Mitsui & Co Holdings Sdn Bhd (25%) and Petronas Gas Bhd (20%). The three will rake in RM403mil, RM183.6mil and RM146.8mil respectively from the sale of Gas Malaysia shares.
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Leave a Comment » | business opportunity, Malaysia, oil and gas | Tagged: Gas Malaysia, MMC, Petronas, Shapadu, Tokyo Gas | Permalink
Posted by Wata
June 5, 2012
Dateline 2012-05-15:
Petronas Gas Bhd will spend some $324.6 mil (1 billion ringgit) to build its regasification terminal in Lahad Datu, Sabah.
Managing director and chief executive office Samsudin Miskon said the capital expenditure (capex) for the facility, which will convert liquefied natural gas (LNG) into gas, includes land and construction expenses.
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Leave a Comment » | Malaysia, oil and gas | Tagged: Lahad Datu, Petronas, Samsudin Miskon | Permalink
Posted by Wata
May 27, 2012
And why would share prices go down? Plant has not been taken offline, we don’t have another supplier of gas…
Dateline 2012-05-11:
Petronas Gas Bhd (PGB)’s share price remained flat at RM17.28 at the end of the morning session today despite the fire at its gas processing plant (GPP) in Kerteh, Terengganu.
The stock hovered between RM17.18 and RM17.28 throughout the morning session.
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3 Comments | business opportunity, Malaysia, oil and gas | Tagged: GPP, Petronas, petronas gas, stock | Permalink
Posted by Wata
May 26, 2012
I do like this picture…
In case you don’t know, this is at GPP3. Anyone have the inside scoop? Well, maybe I do, and prefer not to be sued.
Dateline 2012-05-10:
A gas processing plant of Petronas Gas Bhd in the north-eastern Malaysian state of Terengganu caught fire on Thursday afternoon, causing one fatality with two others hospitalised, the company said.
The natural gas processing arm of state oil firm Petroliam Nasional Bhd (Petronas) said employees of Hyundai-PFCE Consortium (HPC), which is the contractor servicing the gas processing plant during shutdown maintenance, were affected.
“The remaining affected personnel have received appropriate medical treatment,” Petronas Gas said in a statement late on Thursday, without disclosing the exact number of employees affected by the fire.
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Leave a Comment » | Malaysia, oil and gas | Tagged: accident, fatality, GPP, Petronas, PFCE | Permalink
Posted by Wata
Wata - Malaysian Oil and Gas Engineer 
