February 10, 2018
Dateline 2018-01-02, FMT:
It was reported last month that Petronas had awarded the new field development plan (FDP) of the Beryl gas field off the Sarawak coast in October 2017 to JX Nippon Oil & Gas Exploration (Nippon Oil).
So, the Japanese firm and Petronas Carigali will form another joint venture on the development, production and monetisation of Sarawak’s gas reserves.
It is uncertain how Petros, the newly-formed state entity formed by the Sarawak state government in June last year to participate in oil and gas activities, will participate or enjoy, if at all, any of the returns generated by the production and sale of the gas from the Beryl field development.
Likewise, for the gas produced from the other Nippon Oil and Petronas Carigali fields of Layang and Helang, situated adjacent to Beryl.
The gas produced in these three fields are piped and sold to the Petronas liquefied natural gas (LNG) plant in Bintulu, Sarawak.
Contrary to what the Sarawak state government had been saying earlier, it appears Petros has not announced any interest in this new gas block for development.
January 13, 2018
Dateline 2017-11-21, The Edge:
UP until a few years ago, any state looking to set up its own dedicated oil and gas outfit — and aiming for a larger share of oil revenue from production activities, or any similar plan — would have hit a brick wall in the form of Petroliam Nasional Bhd (Petronas). However, more recently, the situation has changed for various reasons.
In 2014, the Sabah government formed Sabah International Petroleum Sdn Bhd “as a special-purpose entity to support the state’s continuous development in the oil and gas sector and to further strengthen the Sabah government’s position in the oil and gas industry”.
And now, there is Petroleum Sarawak Bhd (Petros), which will seek a larger share of oil revenue from production activities for Sarawak.
December 22, 2017
Dateline 2017-11-08, The Malaysian Insight:
SARAWAK-OWNED petroleum company, Petroleum Sarawak Bhd (Petros), is no nearer to picking its chief executive officer.
Petros board chairman Hamid Bugo said the board was screening the more than 40 applicants that had responded to its advertisement for the post in local and national newspapers.
“It will take some time. This is a very important position and we want to choose the best person,” he said yesterday after attending Chief Minister Abang Johari Openg’s press conference to announce the appointment of Sarawak Energy Bhd (SEB) to spearhead research on hydrogen fuel and hydrogen fuel cell applications in the state.
October 15, 2017
Dateline 2017-09-02, FMT:
Sarawak Chief Minister Abang Johari Tun Openg said for a person to be appointed as a board member of the newly formed Petroleum Sarawak Berhad (Petros), he or she must be very experienced in the oil and gas industry.
He was responding to a question posed by a reporter who asked when he was going to appoint a Dayak representative to the Petros board of directors.
“Actually, there is already a Dayak representative in the board by the name of Mohd Medan Abdullah, who is a Muslim Kelabit,” he said here today.
The Chief Minister’s Office had recently announced the appointment of former state secretary Hamid Bugo, who once served with Malaysia LNG Sdn Bhd in Bintulu, as chairman of Petros. Hamid has also been chairman of oil and gas company Sapura Resources Bhd since March last year.
The other Petros board members announced are Sharbini Suhaili, Zuraimi Sabki and Heng Hock Cheng, whom Abang Johari had described as “experienced industry professionals with very strong and proven track records and had served in key positions in the oil and gas industry”.
October 10, 2017
Dateline 2017-08-29, The Malaysian Insight:
SARAWAK is expected to publicise oil concessions, having settled a legal question over ownership of a continental shelf off its shores, as soon as the general election is called, said a prominent political analyst.
Professor James Chin, director at the Asia Institute at the University of Tasmania, was speaking on newly-formed state oil company Petroleum Sarawak Bhd (Petros), whose board members were announced by the state government last Friday.
“Sarawak recently set up Petros because it is preparing for the day the federal government will recognise that the continental shelf belongs to Sarawak, so there’s a commercial entity ready to take over immediately.
“But the reason why all this is not announced because the election is not yet announced. Once the election is announced, all these concessions will be announced to the public,” he said.
October 8, 2017
Dateline 2017-08-25, FMT:
The Sarawak Chief Minister’s Office has announced the appointment of Hamid Bugo as chairman of the newly formed oil and gas company Petroleum Sarawak Berhad (Petros).
In a statement today, it said the other board members appointed were Mohammad Medan Abdullah, Sharbini Suhaili, Zuraimi Sabki and Heng Hock Cheng.
Hamid is a former state secretary who had served with Malaysia LNG Sdn Bhd in Bintulu.
Chief Minister Abang Johari Openg announced the formation of Petros, a wholly state-owned company, on Aug 6.
He said then that its board members would comprise Sarawakian professionals within the industry.
September 14, 2017
Sovereign wealth fund? Yeah, if that happens, can I ghostwrite “State + Business? Socialism Wins!”
Dateline 2017-08-10, Borneo Post:
The unprecedented step taken by the state administration to incorporate Petros, a Sarawak wholly-owned oil and gas company, as a vehicle to actively participate in the extraction and development of the state’s oil and gas is most welcomed by all Sarawakians, said Batu Lintang assemblyman See Chee How.
See, who is state PKR vice chairman, said Petros should be a sovereign wealth fund, which is a Sarawak-owned investment fund, answerable to the Sarawak Legislative Assembly to invest in, accumulate and manage the funds in the course of its exploration, management and development of all upstream and downstream petroleum-related projects in Sarawak.