Better performance expected in 2H for Malaysia O&G sector

September 21, 2014

Dateline 2014-07-07, Borneo Post:

Oil and gas (O&G) companies in Malaysia will continue to see excitement ahead in the second half of 2014 (2H14).

The research team at Kenanga Investment Bank Bhd (Kenanga Research) expect to see mergers and acquisitions (M&As) for non-stop exploration and production in the near future.

“We were pleasantly surprised by Dialog Group Bhd’s (Dialog) recent announcement that it had entered into a Letter Of Intent (LOI) to farm into 20 per cent of ROC Oil’s participating interest in the Production Sharing Contract (PSC) for the three fields D35, D21 and J4 fields, located offshore Sarawak, Malaysia.

“No purchase price has been revealed as yet but we will not be surprised if the consideration mirrors ROC oil’s farm-in terms (US$25 million plus a carry with a 50 per cent participating interest of US$80 million for the project spread over Phases 1 and 2).”

BC Petroleum Gets Nods to Develop Bentara Oil Field Offshore Sarawak

May 4, 2014

Rigzone, dateline 2014-03-26:

Roc Oil Company Limited (ROC), announced Tuesday that BC Petroleum Sdn Bhd (BCP) the 48 percent owned company incorporated to operate and manage the Balai Cluster Risk Service Contract (RSC), has received approval of the FDP (field development plan) from Petronas for the initial phase in the development of the Bentara Oil Field within the Balai Cluster offshore Sarawak, Malaysia.

Commenting on the FDP approval ROC’s CEO Alan Linn said: “Approval for the initial phase of the Bentara oil development is a direct outcome of the risk managed and staged pre development approach implemented by BCP to appraise and accelerate oil production from the Balai Cluster. In the process, we have also identified additional potential within the cluster area and will be proposing further study and appraisal activity in support of the next stage of potential development from Bentara and associated fields”.

ROC Oil eyes more projects in Malaysia

December 8, 2011

Dateline 2011-11-29:

Australia’s ROC Oil Co Ltd is keen to bid for more Malaysian projects after clinching a deal to develop the Balai cluster marginal oilfield, offshore Sarawak, with partners Dialog Group Bhd and Petronas Carigali Sdn Bhd.

ROC general manager for corporate affairs and planning Mathew Gerber said Balai is an initial entry and the company aims to increase its presence in Malaysia’s oil and gas sector, if given the opportunity.

“We have a lot more to offer,” he said, adding that the project award is a vote of confidence in ROC’s abilities as an operator of small fields.