Clarity on Petros vital

May 9, 2018

Especially for us boutique service providers:

Dateline 2018-03-09, NST:

SARAWAK’s state oil corporation, Petroleum Sarawak Bhd (Petros), was officially launched earlier in the week by Chief Minister Datuk Patinggi Abang Johari Abang Openg in Kuching.

With a symbolic digital signature, the state chief executive finally made concrete a collective state aspiration to be an active player in the oil and gas sector, which Abang Johari described as strategically important to the socio-economic development objectives of Sarawak.

He marked the symbolic launch with a significant gesture in handing over to Petros chairman Tan Sri Hamid Bugo a state government licence, granting the new oil corporation the rights to mine oil and gas in Sarawak.

Abang Johari said: “Petros must build on its strategic presence in Sarawak to grow and deliver sustainable economic benefits via its business model, while, at the same time, safeguarding the interests of our state and its resources.”

 


Sarawak gains full control over state’s oil and gas sector as Malaysia election nears

May 1, 2018

Dateline 2018-03-07, The Straits Times:

Sarawak announced yesterday that it now has complete mining rights over its territory, making it the first state in Malaysia to form a state-owned oil and gas company.

Sarawak Chief Minister Abang Johari Openg said the formation of Petros, which was founded last year, was part of the promise made by the federal government to return eroded rights from the Malaysia Agreement 1963 (MA63), signed when the giant state agreed to become part of Malaysia.

“This gives Sarawak full regulatory authority of the upstream, downstream aspects of the oil and gas industry,” said Datuk Abang Johari at an event to launch Petros in the Sarawak capital of Kuching.


Petros up and running by 2020

February 24, 2018

How come SIB isn’t making press statements every week?

Dateline 2018-01-15, Borneo Post:

The state’s wholly-owned oil and gas (O&G) company, Petroleum Sarawak Berhad (Petros), is set to become an active player in the O&G industry within two years.

Chief Minister Datuk Patinggi Abang Johari Tun Openg said the company, established in August last year, aims to exploit all opportunities in the O&G industry once it is fully operational.

“Wait two years for Petros to take active participation in the oil and gas industry,” he said when opening the Parti Pesaka Bumiputera Bersatu (PBB) Miri Zone 10 triennial delegates meeting here yesterday.

The setting-up of Petros was to enable the state government to participate directly in the O&G industry in Sarawak.

Petros chairman Tan Sri Hamid Bugo was reported in November last year as saying the company was expected to start operations in the first quarter of 2018, and was looking for a suitable candidate to fill the post of chief executive officer.

Abang Johari, meanwhile, said Sarawak has the potential to become the strongest state in Malaysia by 2030 with a well-structured development plan based on digital economy, and headed by the state’s backbone party, PBB.


Sarawak left out of new gas deal by Petronas

February 10, 2018

Ah, linkbait.

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.


Will states’ O&G ambition be in conflict with PDA?

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.

 


Petros still far from picking its CEO

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.


Sarawak CM: Petros board members must be very experienced

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”.