2 O&G firms yet to pay Sabah RM97mil in SST

November 7, 2022

Dateline 2022-08-18, FMT:

Two oil and gas firms have yet to pay the RM97 million in state sales and service tax (SST) on petroleum products owed to Sabah, says the state’s second finance minister Masidi Manjun.

According to The Borneo Post, the two firms are Repsol Oil and Gas Ltd and SEA Hibiscus Sdn Bhd. Masidi reportedly said there was no problem with the other oil and gas companies operating in Sabah as they had been paying the SST on time.

He added that Sabah would be able to rake in RM1.2 billion annually if all of the firms had paid the SST on time.

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Hibiscus Petroleum receives waiver of pre-emption rights on Repsol assets, comes closer to concluding US$212.5m acquisition

July 29, 2021

Dateline 2021-07-14, The Edge:

One of the conditions precedent in Hibiscus Petroleum Bhd’s acquisition of upstream oil and gas assets from Spanish oil major Repsol has been fulfilled, which brings the oil explorer one step closer to concluding its acquisition of the latter’s upstream assets in Malaysia and Vietnam.

In a statement, Hibiscus said that it has been informed by Repsol Exploración S.A that the waiver and/or expiry of pre-exemption rights held by Petronas Carigali Sdn Bhd and PetroVietnam Exploration Production Corp under each of the relevant joint operation agreement for the assets had been satisfied.

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Repsol Sells E&P Assets in Malaysia, Vietnam to Hibiscus Petroleum

July 13, 2021

Dateline 2021-06-01, Offshore Engineer:

Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.

Repsol said that the sale of its upstream assets in Malaysia and in Block 46 CN in Vietnam supported its plan to reduce its presence from 25 to 14 core countries.

Repsol said it was concentrating its upstream activity on 14 key projects centered around producing basins and executed through lean modular development, prioritizing value over volume.

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Repsol weighs sale of Malaysian assets as part of review

March 17, 2020

Dateline 2020-01-13, The Edge:

Repsol SA is exploring options for its Malaysian upstream operations including a potential sale as the Spanish oil company reviews its global portfolio, according to people familiar with the matter.

The Malaysian assets could attract interest from other energy companies in the region, the people said, asking not to be identified because the matter is private. The asset review comes as Repsol is working on a new strategic plan, which is expected to be presented in the first half of the year.

Repsol owns rights to six development blocks in Malaysia with a net surface area of 3,126 square kilometers (1,207 square miles), according to its website. Its major upstream projects include Kinabalu, a mature offshore oilfield located in the west of the Malaysian basin of Sabah. Repsol holds a 60% stake in the project, while state-owned Petroliam Nasional Bhd, known as Petronas, owns the remaining 40%.

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Repsol Weighs Potential Sale of Malaysian Assets

March 11, 2020

Dateline 2020-01-10, Rigzone:

Repsol SA is exploring options for its Malaysian upstream operations including a potential sale as the Spanish oil company reviews its global portfolio, according to people familiar with the matter.

The Malaysian assets could attract interest from other energy companies in the region, the people said, asking not to be identified because the matter is private. The asset review comes as Repsol is working on a new strategic plan, which is expected to be presented in the first half of the year.

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Repsol giving back to the community

February 17, 2020

Dateline 2019-12-16, Daily Express:

Giving back to the local community has been Repsol Oil and Gas Malaysia Limited’s passion in addition to focusing on upstream sector of oil and gas in the country.“While we are focused on our business growth in Malaysia, we are equally passionate about giving back to the local community in which we operate,” said Government and Community Relations Advisor for Sabah/Labuan, Datuk Eddie Abdullah. He said they take their responsibilities as good corporate citizen seriously and actively organise programmes and activities that promote change and elevate the wellbeing of the local communities with government agencies and non-governmental organisations across Malaysia.

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Bunga Pakma platform starts producing gas

September 23, 2018

Dateline 2018-07-09, NST:

Repsol Oil and Gas Malaysia Ltd is on track to meet the company’s target after starting to produce gas at one of six oil wells in the Bunga Pakma Joint Development Area.

Repsol Malaysia Business Unit director Jorge Milathianakis said the production at Bunga Pakma’s first oil well was the result of collaboration with partners Petronas and PetroVietnam.

He said the first gas production was not only implemented on schedule, but also at a lower cost than expected.

“The main contributing factor of the success of this project is due to the strong support from our two partners,” Milathianakis said, adding that most of the gas produced will be purchased by Vietnam and the balance used in Malaysia.

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Malaysian Kinabalu field’s production ramps up to 14,500 boe/d: operator Repsol

February 17, 2018

Dateline 2018-01-10, S&P Global:

Spanish integrated producer Repsol has ramped up output at the Kinabalu field in Malaysia to 14,500 barrels of oil equivalent per day, after it started production in the fourth quarter of 2017, a company spokesman told S&P Global Platts on Tuesday.

Repsol is the operator of the field, with a 60% stake, giving it a net 8,700 boe/d, and the remainder goes to local state-owned Petronas.

Repsol started operating the offshore field in Malaysia’s Sabah basin in 2012. The companies invested a total of around $150 million to boost output from the mature field — including the installation of a bridge-linked wellhead platform, which was installed during summer.

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Repsol expects increased production from Kinabalu block by June next year

December 30, 2017

They need an allocation and measurement engineer to count those extra drops. Who do I contact?

Dateline 2017-11-09, NST:

Repsol Oil and Gas Malaysia Ltd expects an increased production from its Kinabalu block to an average of 16,000 barrels of oil per day (bopd) from the current 11,012 bopd with the new platform there.

Its director (Malaysia Business Unit) Jorge Milathianakis said they expect to reach this capacity by June next year once all 10 wells from the new bridge-linked wellhead platform (KNDW-D) are operational.

Speaking at the media engagement to announce the first oil production from the Kinabalu Redevelopment project, Milathianakis said they have achieve the first oil production from the new platform on October 29.

KNDW-D was successfully installed on June 8 this year, connected to the existing platform (KNDP-A).

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Repsol works to expand business and CSR in Sabah

October 21, 2017

Dateline 2017-09-09, NST:

Repsol Oil and Gas Malaysia will continue drilling potential wells in Block SB309 offshore Sabah in efforts to expand its business operations in the state.

Stakeholder relations manager Ahmad Fakhrurrazi Arshad said Repsol was focused in the upstream business, adding it currently operates the PM-3 Commercial Agreement Area project which straddles the Malaysia-Vietnam border.

Repsol also runs the PM-305 and PM-314 Blocks in the Peninsular Malaysia since 2002 and the Kinabalu Oil Production Sharing Contract (PSC) in Sabah since 2012.

Ahmad also said an increase its oil production to 18,000 barrels per day is also expected this year following the installation of a new production facility.

“This year represents a milestone year for our operations offshore Sabah when we installed a new production facility next to our current producing platform, Kinabalu.

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